YELLOW SPRINGS — Two families dreamed of making a life within the village of Yellow Springs and with the help of the Yellow Springs Home Inc. their dreams will come true.
“We’re a community land trust and we build permanently affordable housing to benefit the community for generations,” Yellow Springs Home Inc. Executive Director Emily Seibel said. “… The support of the community and village has made this possible.”
The families were both fans of the Yellow Springs community and sought housing options within the village, which is when they found Yellow Springs Home Inc. Upon doing so, Yellow Springs Home Inc. officials started walking them through the home buying process.
Matthew and Elizabeth Schaade have four children all under 5 years old and currently reside in the City of Piqua. Matthew was previously investigating jobs on the other side of the country, but the couple ultimately decided to stay local as their family members are based in Ohio. They are hoping to move into their new home in the village by late summer.
“When we started building our family, the things that are important to us are [in Yellow Springs],” Matthew Schaade said. “We’ve always loved Yellow Springs and when we started having kids, it just made sense to start bringing them here.”
Patrick and Brandy Hange have a 2-year-old son and daughter on the way. They currently live in West Chester and started visiting the area about a year ago.
“We’re excited and feel grateful to be able to move to such a great place,” Brandy Hange said. “Everybody is so welcoming and we can’t wait to make it our home … Once we came here, we checked out all the parks and walked around and fell in love. When we started to drive back home, it felt like we were leaving home.”
Construction will start as this week draws to a close, which Seibel said will create jobs and generate revenue for the village. Yellow Springs assisted in the project by selling lots at a reduced cost, installing water lines and waving fees. Village Council Member Judith Hempfling expressed excitement to see new homes going up and happiness in welcoming the new families to the village.
“Not only are these going to be beautiful homes, but this is a type of economic development that the village supports,” Hempfling said. “… Each of these homes will generate about $2,500 in taxes for the village.”
Melissa Dallas, vice president of the Federal Home Loan Bank of Cincinnati, said the FHLB lends funds to other banks and acts as a cooperative. It sets 10 percent of its profits aside each year for affordable housing through a grant program with banks it’s partnered with.
For this project, Huntington Bank landed a $50,000 grant, which will go toward the two new homes. Dallas said the FHLB has given more than $60 million toward affordable housing, which put up 75,000 units of housing since the program first started 26 years ago.
Whitney Vickers can be reached by calling her directly at 937-502-4532. For more content online, visit our website or like our Facebook page.