Housing Initiative Partnership (HIP) buys and substantially rehabs vacant single-family homes in older inner-beltway neighborhoods. Sometimes, HIP will also tear down abandoned and dilapidated homes to build new construction on a large lot.
These “HIP Homes” are then sold to first-time homebuyers earning 80% or less of the area median income. We are expecting to reach the 100th HIP Home milestone during 2021.
Rehabilitated HIP homes typically require extensive work and are practically new when completed. In an average rehab, HIP will replace all major systems (roof, gutters, furnace, central air, hot water heater) and heavy up the electrical system. In addition, we will replace the kitchen and bathroom(s), install all new appliances (garbage disposal, dishwasher, refrigerator, stove, washer and dryer), and replace all electrical fixtures and flooring.
As a green developer, HIP places special emphasis on energy and water efficiency as well as the use of sustainable, healthy materials. HIP’s signature feature is the addition of a front porch with brightly colored front and rear door. Not only does an inviting porch dramatically improve the curb appeal of the home, it also encourages the new owners to enjoy sitting out front of their new home while getting to know their neighbors and the community.