Housing Lottery Held for Below-Market Townhouses on Route 9

Community Housing Innovations, a nonprofit organization which specializes in making housing accessible and affordable, announced last week that it is administering a housing lottery, through which 10 qualified homebuyers will win the opportunity to purchase below-market townhouses at the brand new Quarry Pond Community, located on Route 9 in Cold Spring. The nonprofit agency was selected by the developer, Wilder Balter Partners, to manage the housing lottery, and has started to accept applications. The deadline to apply is September 1, 2008.

The new homes will be both Energy Star® and LEED Certified, offering homeowners at least a 30% savings on energy, improved indoor air quality, and reduced water consumption. LEED stands for Leadership in Energy and Environmental Design and is a prestigious designation conferred by the U.S. Green Buildings Council.

The 10 townhouses, which would normally sell for $400,000 or more, are being offered to eligible families for $285,000. To qualify, however, families must earn less than $100,000 a year. At the end of the marketing period, all names of interested purchasers will be placed in a lottery and drawn by the Town Supervisor through a public lottery process. While the lottery features a preference system that awards extra points for volunteer firefighters, police officers, municipal workers, teachers, employees of the Garrison and Haldane School Districts, and Town of Philipstown residents, the lottery is open to all.

"This is a wonderful opportunity for moderate income families to qualify for a beautiful home." said Alexander Roberts, Executive Director of Community Housing Innovations. "Given the escalating cost of fuel and the concern for our environment, having an energy efficient home is very important."

"As Philipstown Supervisor, I am thrilled that these 10 below-market townhouses are available for families who have contributed to our community through their volunteerism," said Bill Mazzuca, Philipstown Supervisor. "I am especially pleased that the homes will be Energy-Star and LEED Certified. Wilder Balter Partners, Inc. has worked with our community to build quality houses that are not only affordable but are energy efficient. I encourage all those families who are eligible to apply to this wonderful opportunity!"

The homes are built by Wilder Balter Partners, Inc., a leading developer and the Hudson Valley's first community builder to commit to all LEED-Certified and Energy Star® construction. They will each feature 2-car garages, master bedroom suites with walk-in closets, and state-of-the-art kitchens. The Westchester-based builder is currently developing Barrett Hill in Southeast, Glassbury Court at Cold Spring in Philipstown, Glassbury Court at Hunterbrook in Yorktown, and Riverton in Upper Nyack.

For more information, and a free application for the lottery, visit the Wilder Balter website at www.wbhomes.com or call 877-333- wbhomes. Applications will be accepted until September 1, 2008. To find out more about Community Housing Innovations, Inc., visit the organization's website at www.chigrants.org or call (914) 683-1010 ext. 225.