Exciting Developments in Affordable Housing Options at Compass
INHS became the first affordable housing nonprofit organization to own and operate a manufactured housing community (MHC) in 2021 with the purchase of Compass in Trumansburg, investing over $10 million in the property. These investments have enhanced infrastructure, amenities, and housing opportunities, reflecting INHS’s commitment to affordable housing throughout its seven-county service area. INHS values manufactured housing as a key affordable resource and collaborates with Compass residents, funding partners, and the community to promote responsible, community-oriented management, countering the trend of predatory out-of-state manufactured community investors.
New Home Development and Infill
Using a combination of State, Federal, and County funding, INHS plans to develop additional for-sale homes at Compass. Current awards include $784,710 from NYS HCR and $120,135 from the Tompkins County Community Housing Development Fund, supporting the development and sale of up to six new homes. These homes will be sold at affordable, subsidized prices to individuals and families earning less than 80% of the Area Median Income (AMI). This ongoing initiative is part of a broader effort to increase affordable housing options and support community development.
Increased Rental Opportunity
In February, INHS will open eight new all-electric, three-bedroom, two-bathroom rental homes at Compass. This $1 million project, financed through the Manufactured Home Advantage Program, aims to provide affordable rental housing for those earning less than 80% of the Area Median Income (AMI). The homes will be ready for occupancy by the end of February, helping to meet the high demand for affordable rental housing in the area.
Replacement of Substandard Homes
INHS has completed three new homes for existing Compass residents under the Manufactured Home Replacements (MHR) program, part of the HUD-funded HOME program operated by HCR at the state level. This grant program provided $420,000 to replace sub-standard homes. Program clients continue to own their homes after replacement and are subject to a period of affordability, ensuring the homes remain an affordable housing resource for the community, even if sold.
Looking ahead, subsequent MHR Awards have been secured that will allocate $1,493,000 to replace nine additional homes over two years. This program aims to improve living conditions and provide high quality sustainable housing options for low- and moderate-income families.
These projects exemplify INHS’s ongoing commitment to affordable housing and align with efforts to improve infrastructure, maintenance capacity, amenities, and overall property management at Compass. In total, INHS has directed more than $12 million in investments to ensure this valuable affordable housing resource serves as a safe, stable, and affordable foundation for generations of Trumansburg residents. Stay tuned for more updates as these projects progress!
