The Rewards of Home Ownership

Build Up Duluth offers financial incentives for new construction and multifamily homes in the Central and East Hillside neighborhoods. The program, which is offered through the Housing & Redevelopment Authority (HRA) of Duluth, is designed to promote home ownership, create new housing and increase home values.

Single-family home construction

Details: New custom home on an available lot in Central or East Hillside
Incentive: $50,000 over a 10-year period

HRA will provide a buildable lot worth up to $25,000 and contribute $25,000 in cash toward construction in the form of an interest-free down payment loan.

For every year lived in the home, the debt to HRA will be reduced by 10 percent.
After 10 consecutive years of home occupancy, the entire amount of the loan will be forgiven. In many cases, the $50,000 can be counted as part of a down payment.

There are no restrictions or income qualifications. However, buyers must qualify for a mortgage at a local bank or credit union for the cost of the home.

Multi-family home ownership

Details: Redevelopment of properties comprising two to four units
Incentive: $50,000 over a 10-year period

HRA will provide up to $10,000 per unit in cash toward the renovation of older, multifamily housing.

For every year the owner lives in one of the property’s units, the debt to HRA will be reduced by 10 percent. After 10 consecutive years of property occupancy, the entire amount of the loan will be forgiven.