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“We’re really setting up those buyers for success,” said Assistant City Manager Jared Jones. “You’re getting an additional $70,000 in savings for a house that typically if you build, that builder would release the house and what it appraises for, it sells for.”  The savings Jones referred to was the $25,000 to $50,000 in down payment and closing cost assistance made available through RehouseBay, which was formed as a response to critical housing needs following Hurricane Michael in 2018. He listed flooring, granite countertops and stainless-steel appliances as an additional $20,000 built-in equity.   “We were able to keep prices steady throughout construction of this, and we’ve really insulated our future buyers  against the labor, materials, fuel, everything that has seen drastic increase in prices over the last six months,” Jones said. “This is a really good deal because if you were to appraise them next month, they would be at an even higher value.”

United statesPanama cityJacqueline bostickTommy hammJared jonesCypress community development corpPanama city runHorizon parkBlack glenwoodAssistant city manager jaredHurricane michaelWinterfell constructionBay county commissioner tommy hammCommunity developmentWilson avenueHurricane katrina