Over the past 30 years, INHS has acquired or constructed these units within the City of Ithaca. The properties are located in the Southside, West Hill and Northside Neighborhoods.
In 2018, INHS completed phase 1 of the project which included renovations of 98 units. This next phase will include the rehab or new construction of the remaining 29 efficiency, 1, 2 and 3 bedroom apartments and two commercial spaces in the portfolio.
Twenty-eight of the 29 units target families earning between 25% and 60% of the Area Median Income (AMI). While this housing serves those most in need it also is home to one moderate-income family.
A consequence of maintaining low rents and keeping the Portfolio affordable is that there is often not enough money to do the repairs that are needed. Over the years, the portfolio has grown and the structures have aged, the buildings have become difficult to manage. In many cases only the most pressing maintenance needs are addressed while the more critical large capital expenditures like roofs, siding and energy efficiency upgrades delayed.
Renovations and upgrades will include new roofs, heating systems, siding, flooring, kitchens, baths, landscaping, energy efficiency upgrades, and more.