By Jay Lawrence
Local community activist and Atlanta BeltLine advocate Angel Poventud’s home will be part of the upcoming Committed to Communities Home Tour on Aug. 17.
“I have 1,200 square feet and 21 windows and the light in here is unbelievable,” said Poventud, speaking of his historic bungalow in Adair Park.
The project took 20 months of hard work to complete, but the totally rehabbed two-bedroom, two-bath home – which backs up to the BeltLine – is complete. The home tour is sponsored by a group of realtors, nonprofits and lenders who work together under the banner of Committed to Communities.
The tour will focus on what can be done with the type of HUD loan that Poventud received to redo his house, known in the industry as a 203(k). Houses will be shown before, during and after the use of these renovation loans.
“Without these loans the work my neighbors and I have done on our houses just wouldn’t be possible,” said Poventud. His bungalow, built in the 1920s, had been vacant for 10 years when he bought it for $14,000. It had to be stripped down to the studs.
Even with the renovation loan, he didn’t have all the money to finish the job, but with crowd-funding and help from friends he was able to get the job done. “I kicked over every rock I could,” Poventud said.
As the Atlanta housing market has started to heat up, renovation home loans have become an even more important option. By considering them a homebuyer’s options expand greatly, said Derrick Duckworth, organizer of the Committed to Communities tours.
“Sustainability is a hugely important principle,” said Duckworth, “and renovation of existing houses fits right in with that.”
To further that idea, Duckworth invited the non-profit Lifecycle Building Center to demonstrate the use of recycled building materials in a home to be shown on the tour. The group’s aim is to make buildings more sustainable through the reuse of materials – rather than just disposing of them.
The tour will also highlight the availability of up to $15,000 in assistance to homebuyers from the NeighborhoodLIFT program, which has allowed more than 200 families and individuals to become homeowners in the City of Atlanta. Administered by Invest Atlanta and made possible by a grant from Wells Fargo, the program still has more than $2 million available. Those who qualify must buy and live in a house in the city of Atlanta and make no more than 120 percent of the area median income, which for a family of four is $79,550.
Homebuyers may use the money from NeighborhoodLIFT for one of the HUD renovation home loans.
This will be the sixth Committed to Communities home tour of 2013 hosted by The Beltline Team of Area West Realty. Other participants are Resources for Residents and Communities (RRC), Invest Atlanta, Loan South Mortgage, EpiCity, Atlanta Neighborhood Development Partnership, J.P. Morgan Chase, First Community Mortgage and Wells Fargo.
Poventud, whose issues with city inspectors and difficulties in obtaining funding have been well-chronicled in local media, is looking forward to showing attendees firsthand what his “love and passion” for his home have wrought. “At no point was it an option not to finish this,” he said.
For more information about the free tour, visit CommittedtoCommunities.com.