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The Real Deal Miami

First of federally funded Lake Worth homes to be complete this month

October 17, 2011 05:53PM

The first of the Lake Worth houses erected from a $23.2 million federal grant to the city last year is scheduled to be dedicated Oct. 28, the Palm Beach Post reported. The house, a two-story structure at 524 S. E Street was refurbished by volunteers and the future homeowners, Michael Phillips, his wife and two children, through Habitat for Humanity and the Lake Worth Community Redevelopment Agency.

The grant hoped to help stabilize Lake Worth neighborhoods that were tattered by the foreclosure crisis and left without an active community thanks to the prevalence of rentals by taking over foreclosed houses. Twenty homes and apartments are currently being worked on and 110 more are set to be redeveloped by 2013. The CRA is also building 11 townhouses for artists near Lucerne Avenue and F Street.

The CRA is seeking qualified buyers for the homes, which will be priced between $80,000 and $120,000. [Palm Beach Post]