DALLAS: A nonprofit is one step closer to building its first “sweat equity” affordable housing project for seniors after the acquisition of a city property. The charity proposes six to eight townhouses on the half-acre lot.
The charity obtained the lot for a token price of $1, contingent upon successfully developing the property.
Construction will start next year through a sweat equity or “self-help” process where future homeowners help build the houses themselves, under a contractor’s guidance. The roughly 2,600 hours of labor provided by each senior – about 40 hours per week – reduces the cost of the homes, enabling home ownership for those who would otherwise have to rent…