Sunday, Nov. 08, 2009

Program builds condos for poor

ATHENS, Ga. -- A new nonprofit agency in Athens will transform aging apartment buildings into condominiums for the working poor.

The new project, called ReNew Athens, will roll out later this month. Its founders are state Rep. Doug McKillip, D-Athens, and Athens Area Habitat for Humanity Executive Director Spencer Frye.

The pair will buy up apartments in run-down complexes, use volunteer labor to gut and renovate them, then sell the fixed-up units to families who earn close to minimum wage.

The project targets families whose only option now is public housing or Section 8 subsidized housing.

Organizers say ReNew Athens condos will cost about $45,000 to $55,000 and monthly payments will be about $130 to $150.