Quote of the day: Rebuilding buyer confidence

“We need to keep it going. We need every kind of resource we can get to build the confidence back in people’s minds that they can buy a house.”

– Granite Development president Joseph Williams, on the offer of $10,000 grants for the first 100 people who buy homes through the Find Your Place in Chicago initiative. According to the Tribune, four people have closed on homes and another 19 have secured financing for a purchase in the four months since The Partnership for New Communities rolled out the grants offer.

Many of the developments participating in the Partnership are multi-phased, mixed-income projects like Oakwood Shores and Lake Park Crescent. In the case of the former, 10 condos are still for sale, and construction continues on 191 second-phase units, but plans for 159 more for-sale units are currently on hold.

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