PEORIA — There is a goal in South Peoria to renovate 500 homes, sparking new homeownership and the creation of more affordable rentals in the 61605 ZIP code.
Peoria Opportunities Foundation director Irina Riggenbach said Tuesday at a news conference with U.S. Rep. Eric Sorensen, D-Moline, that her organization hopes to see 500 homes in South Peoria renovated and then either sold or rented at affordable prices.
Riggenbach and Sorensen touted the efforts that have occurred so far that have seen five homes renovated in South Peoria using just under $1 million in federal grant dollars. Each renovated home, Riggenbach said, is acquired for between $30,000 and $40,000 and costs around $130,000 to $140,000 to renovate. The homes are then sold for $75,000.
“Five hundred is our larger vision. We have the funding for five homes, and that’s why we’re building up and organizing a strategy group of neighbors, pastors and residents in the south side so that we can advocate and get the additional funds to continue that larger vision,” Riggenbach said.
Sorensen said you cannot ramp up from zero homes to 500 homes, but you can ramp up from five to 500.
“You figure out how to do it, you get the buy-in from all sorts of people. From neighbors to churches from those in civic organizations, from the food bank. Everybody comes together with the same vision and that’s how you can drive yourself toward that goal of 500,” Sorensen said.
Riggenbach said low-income families are the targets for these renovated homes, and they will have to qualify, get a mortgage and make an offer on the house.
Sorensen touts housing bill Trump refused to sign
Sorensen toured one of the homes renovated by the Peoria Opportunities Foundation, which has partnered with Neighborhood House, on Tuesday and also spoke with reporters to emphasize the importance of a federal housing reform bill passed by the House and Senate last month that President Donald Trump has refused to sign.
“Today we’re here because one of the biggest challenges facing working families is the cost of housing,” Sorensen said. “Too many people are working as hard as they can, they’re doing everything right, but they still can’t grasp the good life because an affordable home is out of reach. That’s not the future our neighbors deserve in Peoria.”
That federal housing bill, which passed with broad support from both Democrats and Republicans in the House and Senate, was pushed aside by Trump, who called it a “big yawn” and said it was “so unimportant.”
The bill aims to make housing more affordable by loosening federal restrictions on factory produced homes and also limit the number of single-family homes large investors can own. It passed the House with a vote of 358-32 and the Senate with a tally of 85-5.
Sorensen on Tuesday said the bill will become law anyway even though Trump is refusing to sign it. House Speaker Mike Johnson, a Louisiana Republican, told USA Today on June 29, the bill would become law in some way without Trump’s signature.
“It cuts red tape, expands help for first time homebuyers, protects renters, speeds up the construction of affordable homes, all part of my plan to keep money in your pocket,” Sorensen said.
This article originally appeared on Journal Star: ‘Larger vision’: Plan aims to renovate 500 homes in South Peoria
Reporting by JJ Bullock, Peoria Journal Star / Journal Star
USA TODAY Network via Reuters Connect
By JJ Bullock, Peoria Journal Star | USA TODAY Network
