WASHINGTON, D.C. – May 20, 2013 – (RealEstateRama) — A new home built by students is near completion and has a sale pending with a home buyer in West Valley City as a result of a partnership between Utah Housing Corporation and Granite Technical Institute.
The ECHO program (Educationally Constructed Housing Opportunities) was created by Utah Housing to provide financing to build affordable homes and prepare students for jobs in the construction industry by using a student workforce. The well-built homes are sold to moderateincome households. The school receives a builder’s fee for building the home.
An open house will be held:
Wednesday, May 22nd, 3:00 pm: 3456 W Ryan Bennett Ln, West Valley City, UT
Since 1998, Utah Housing has invested over 13 million dollars by building over 100 ECHO homes and funding over $950,000 in profits to school programs. Currently, two ECHO homes are under construction. Granite Technical Institute has already built three homes, and 99 students were enrolled in the program to build this three bedroom, two bath home. The contributing students consisted of 35 in general building, 15 in electrical, 15 in plumbing, 12 in cabinetry, and 10 in interior design.
“The Granite Technical Institute is thankful for its partnership with Utah Housing. The educational benefit to our students is invaluable as they learn job skills that can benefit them long after high school. We hope to continue this partnership with Utah Housing and continue to help our community and students,” said Devon Hartley, Principal of Granite Technical Institute.
ECHO homes are sold to households earning 80 percent (or less) of the area median income in their community or $56,240 for a family of four in Salt Lake County. Utah Housing provides financing for purchasing the land, materials and supplies, and pays for licensed subcontractors. For more information, contact Scott Harmon, Housing Program Manager at 801-902-8235. “We’re happy to contribute to the community in this way. ECHO homes really make a difference. Young people get a chance to leave their mark on the community and families with modest incomes are able to achieve home ownership,” said Jonathan Hanks, Senior Vice President of Utah Housing Corporation.
About Utah Housing Corporation
Established by legislation in 1975 as an independent public corporation, Utah Housing Corporation is the leader in serving Utah’s affordable housing needs. Working with the private sector, Utah Housing provides mortgages and down payment assistance to low and moderateincome home buyers, finances affordable rental properties, and develops special needs housing. At no cost to the state, Utah Housing has provided financing for more than 65,000 Utah home buyers, 22,500 affordable rental units, and over 7,200 special needs units of housing. Utahns can visit the Utah Housing website at www.utahhousingcorp.org, call 801.902.8200, or talk to your realtor or lending institution about homes in your community or Utah Housing mortgage options.
Susan Van Arsdell: 801-902-8233
Jonathan Hanks: 801-902-8221