Bluffton estimates sale-price ranges for Wharf Street homes

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Bluffton estimates sale-price ranges for Wharf Street homes

By GRANT MARTIN
gmartin@islandpacket.com
Published Wednesday, August 8, 2012   |  206 Words  |  

Bluffton planners intend to sell homes in the town's Wharf Street Redevelopment Project for less than their appraised value, but one member of the Affordable Housing Committee remains concerned the prices are still too high for their intended buyers.

Applicants for the subsidized homes must meet Bluffton's Affordable Housing Homeownership Program requirements and complete a homebuyer education course. So far, only 11 of more than 50 applicants have been approved to proceed to the next step in the process.

Committee chairman Fred Hamilton said he is concerned the price ranges are more than applicants can afford.

Bluffton mayor and committee member Lisa Sulka disagreed.

"The appraisal rates are great," she said. "We're going to be successful."

The price ranges are estimates, town planners told the committee at a meeting Tuesday, and could change after mortgage appraisals.

A drawing Aug. 30 will determine which six of the town's 11 approved applicants can proceed with the process.

Follow reporter Grant Martin at twitter.com/LowCoBiz.

Related content:

Bluffton planners unveil pricing, timetable for Wharf Street development, Aug. 7, 2012