Non-profit group turns home ownership dream into reality for BK renters

A non-profit group is making the dream of home ownership a reality for long-time Brooklyn residents at a fraction of the cost.The Pratt Area Community

BEDFORD-STUYVESANT - A non-profit group is making the dream of home ownership a reality for long-time Brooklyn residents at a fraction of the cost.

The Pratt Area Community Council purchased 10 homes in the Bedford-Stuyvesant and Clinton Hill areas from the Department of Housing and Urban Development for $1 and renovated them for $2.6 million. The organization sold the homes below market value to people who have an established history in those neighborhoods.

Alfred Faber rented at a Bed-Stuy brownstone for about 33 years. The non-profit group renovated the home and sold it to Faber for $400,000 when it was appraised at almost $750,000. The Pratt Area Community Council has purchased 13 other buildings in the two areas and hopes to keep enriching the lives of Brooklyn residents.

Related Information Pratt Area Community Council 718-522-2613

advertisement | advertise on News 12

Trending Video

Dozens of people were arrested across the borough 1 Dozens arrested in 'Operation Hardball' drug takedown
Dozens of senior citizens at an East New 2 Mini horses stir up spirits at nursing home
The tree fell on tracks that carry the 3 Tree falls on tracks at Parkside Avenue train station
4 Word on the Street: 'As Young As You Feel Day'
The incident happened as Pope Francis was blessing 5 Little girl swipes cap off Pope during blessing

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE