Lighthouse Pontiac rentals nearly full, prices on Ferndale houses cut

Lighthouse of Oakland County is planning to sell and lease out most of its remaining projects this fall.

The Pontiac-based non-profit specializes in creating affordable housing. It does this mostly through renovating existing structures, mainly in its own backyard. The organization is close to have two of its refurbished apartment buildings completely leased and is cutting prices on its three houses in Ferndale.

Lighthouse spent $7.7 million earlier this year renovating the Beacon Square Apartments and the Beacon Town Homes. The apartment building on 101 Mechanic St. went from 50 dilapidated units harboring drug activity to 28 new apartments. The 12 town homes on 449 Whitemore now each feature three bedrooms, two bathrooms, an attached garage and a full basement.

Both projects are in Pontiac's Unity Park neighborhood where Lighthouse built 98 new owner-occupied homes and renovated another 180 existing houses over the last decade. Both buildings are expected to be fully leased by the end of the month.

Lighthouse has also cut the price of the three homes it renovated last year on the east side of Ferndale between 8 and 9 mile roads. The prices now range between $89,900 and $110,000.

"We have had a lot more interest since we have lowered the price," says Karen Staley, spokeswoman for Lighthouse of Oakland County. She adds that her organization has noticed more activity in the lower-price-range of the housing market recently.

Source: Karen Staley, spokeswoman for Lighthouse of Oakland County
Writer: Jon Zemke

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Housing, Oakland County, Redevelopment, Sustainability

Lighthouse Pontiac rentals nearly full, prices on Ferndale houses cut

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