Restore or construct a single family-home for resale with a grant to cover the gap between the cost of the improvements and the resale value.
If you’ve had your eye on that dilapidated house down the street, this could be the program for you. Invest DSM helps buyers acquire and rehabilitate property in the neighborhood. Restore the charm of a historic home or construct a modern building on the property from scratch.
With this program, you can feel good about investing in an improving neighborhood for hardworking families and delivering a high-quality home you’re proud of.
PROGRAM DETAILS
For Rehabbers, Investors, and Developers
Grant Amount: The gap between the cost to build or renovate and the resale price
- Designed for those purchasing a property for rehab or new construction. — with the goal of selling to a new homebuyer
- Property must be located within a Special Investment District — check your property’s eligibility here.
- Gap funding for renovation or new construction.
- Intended to enable high-quality projects that don’t pencil out on their own.
Eligible Projects
- New construction of single-family home(s)
- Rehabilitation of single-family home(s)
- Acquisition of a single-family home, as part of the total project costs
- Demolition of a single-family home, as part of the total project costs
- Properties must be located within the designated Special Investment Districts.
- Project budget must show a need for a grant by Invest DSM to reduce or eliminate the gap between the total project costs and the estimated post-project value (the “Appraisal Gap”).
2022 Results
6
projects completed:
2 rehabs and 4 new-construction homes
$598,885