Rejuvenate Housing is a local nonprofit organization whose mission is to revitalize neighborhoods and create home ownership opportunities that promote the health and welfare of the community. They identify and acquire residential properties that can be restored as quality single-family homes, secure financing to renovate properties, and secure qualified buyers.
In a Wednesday announcement from the credit union, Ascentra president/CEO Linda Andry said when Gwen Tombergs from the Rejuvenate Housing board of directors presented them with this unique opportunity, “we quickly realized it was a perfect alignment with our mission to support and help underserved areas in our community,” Andry said in the release.
“Helping to restore neighborhoods to their former glory is important to the future revitalization and health of our towns and cities.”
The home due for renovation — 527 W. 15th St. in Davenport — has been vacant for several months and has severe code violations, which makes it eligible for Davenport’s Extreme DREAM program. This program is designed to rehab vacant and abandoned homes into owner occupied residences along the Gaines Street corridor and offers a dollar for dollar match up to $100,000 for qualifying expenses.
Rejuvenate Housing purchased the house for $58,000 and plans to convert the two-apartment, two-story house into a single-family dwelling by completely renovating it with new materials and furnishings, while keeping its period character with antique trim and casing, the release said.
“This house is structurally sound but in need of major updates and repairs,” said Scott Dahlke, executive director of Rejuvenate Housing, Inc. “Through the Extreme DREAM program, the generous donation from Ascentra and a grant from the Scott County Regional Authority through the Quad Cities Housing Cluster, it’s financially feasible to make this house into a valuable asset for a family and the neighborhood – a win-win situation.”
Once the house is finished, the nonprofit will sell the house to a family who falls within low to median income levels, which is less than $70,000 annually for a family of four.
For more information, visit Rejuvenate Housing’s website HERE.