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Orchard Village

This 58-unit low- and moderate-income owner development was built on an 8.6-acre tract of vacant land that was owned and assembled by the City of Chattanooga and donated to the developer at no cost. The infill project, which won the Urban Land Institute's 1994 Award of Excellence for Small-Scale Residential Development, was built as part of a larger effort to revitalize a troubled district in south Chattanooga. Home sizes range from 920 to 1,350 square feet, and all owners are members in the Orchard Village Homeowners Association, which is responsible for managing the neighborhood. Initially, each homebuyer received an FHA first mortgage in the amount they could afford (typically $40,000-50,000), a second mortgage forgivable over 15 years to make up the difference in the sales price, and an amortizing third mortgage to cover closing costs (typically $1,000-2,000).