Hatch breaks ground on rent-to-own housing project
Hatch Development Group broke ground Friday on Greystone Homes, a project consisting of 26 single-family “rent-to-own” homes east of Drake University. Tenants will be able to purchase the houses following a 20-year compliance period. “It’s really getting them on the path to home ownership; that’s the real motivation,” developer Jack Hatch said. “A lot of low-income families believe they can never own a house. The fact that we’re moving them onto that pathway is substantial.” The 2,300-square-foot, four-bedroom homes are designed after the Chicago “Greystone” architectural style and will have geothermal heating and cooling. The infill housing will vary from single-family to multi-family attached houses on 12 sites extending from Forest Avenue and Martin Luther King Jr. Parkway to 19th and High streets.