A dream is about to come true for a Chattanooga family, being able to purchase their first home at an affordable price.
The Chattanooga Land Bank Authority broke ground on its first affordable home, Wednesday Nov. 12, in the Oakland Avenue project in Alton Park. The house is being built in partnership with Wind River Built, which received the property as a donation through the Land Bank’s affordable housing initiative.
“The groundbreaking is more than the start of a new construction on a single home,” Chattanooga Mayor Tim Kelly said. “It really marks the beginning of a new chapter in Chattanooga's housing sector. The Chattanooga Land Bank is now delivering on its promise to create affordable homeownership opportunities for Chattanoogans.”
Travis Pyke, CEO of Wind River Built, said the home will be a 2-bedroom, one bath, 700 square foot modular home.
“We've been super blessed to have been in business working on some amazing projects and homes and shipping them all over the country to homeowners and developers alike,” Pyke said. “But this particular project today, in our backyard, here in Chattanooga and the housing initiative that is supporting this project is one that we are truly passionate about and really gets our team excited about the work that we're doing. It started with just a handful of us building tiny homes in a pool barn over 11 years ago to now employing nearly 100 incredible individuals that are dedicated to their craft. We're finally able to make a considerable impact on efficiently bringing new homes to the market.”
Wind River Built Director of Strategic Partnerships and Market Development Stratton Tingle said he had been looking for ways to expand the company into new markets.
“When we started, we just built tiny homes on wheels, primarily for individuals and hospitality,” Tingle said. “We then started building modular homes, normal residential as well as commercial applications. And so, part of my job was to be on the lookout for any affordable housing initiatives that were coming out of the city of Chattanooga and other municipalities.”
Tingle said they saw a request for proposals from the Chattanooga Land Bank Authority, applied and managed to secure the opportunity by working closely with the Land Bank team.
“Today’s milestone is just the beginning,” said Megan Miles, Executive Director of the Chattanooga Land Bank Authority. “We are working to scale this model so more Chattanoogans have the opportunity to build wealth, stability and a future through homeownership. I want to thank our partners at Wind River Built for helping us turn possibility into reality. They have such an attention to detail and craftsmanship. I'm really excited that they are our first partner on this project. We're transforming an empty lot into a high-quality, affordable home for a first-time homebuyer.”
The groundbreaking marks the first of more housing opportunities expected to move forward in the coming year. The Land Bank Authority will launch a competitive application process on November 17 to make six additional properties available for affordable homeownership development. Eligible nonprofit and for-profit developers are encouraged to apply through the Land Bank’s website.
Pyke said it would take approximately 25 working days to complete the modular sections. Tingle said while that is taking place in their Cleveland factory, work crews will be at the home site preparing the water and sewer lines and constructing the foundation.
“All our homes are intentionally designed, low-waste, high-performance homes,” Pyke said. “From the windows to the insulation.”
The entire construction should be completed within 3-6 months, Tingle said.
According to the city’s press release this helps ensure faster delivery and lower costs for homeowners. The two-bedroom home, designed for a first-time homebuyer, will be sold for $200,000 at a time when rising construction and land costs are making this price point increasingly difficult to achieve.