Glory Development Corporation

 


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AFFORDABLE HOUSING

Single Family Housing
Glory Development Corporation is committed to the development of single family affordable housing in a price range under $90,000 for those underserved in the community. Glory Development's target market are those families in the 40%-80% of Area Median Family Income range.

For Glory Development, the process began with the organization of the many fragmented programs, services and development procedures normally associated with affordable housing. With an understanding of the problem, Glory Development developed an affordable housing "system", using current technology and strict business economic feasibility guidelines, and is now moving forward to implement its strategy. Glory Development's goal is to have a significant impact on the number of affordable homes built, purchased and successfully owned in the Tyler and Smith County, Texas area. In doing so, Glory Development is utilizing government programs (where necessary), homebuyer down payment assistance programs, homebuyer education, innovative mortgage products, churches and other non-profits/foundations to help homebuyers realize "The American Dream". The "process" varies from family to family depending on the family's needs and resources. Glory Development's goal is to not only build affordable homes, but to build community - one life at a time!

Section 8 Housing
Glory Development is exploring opportunites with Public Housing Authorities to help Section 8 tenants move into the homeownership program. In order to accomplish this, Section 8 tenants need to understand, believe and trust the opportunity available to them and then have desirable affordable housing stock to choose from.

Elderly Housing
Glory Development recognizes the dire need for elderly affordable housing and is committed to develop small multi-family rental facilities where part of the facility is sold or rented at current market value and then the profit is used to subsidize lower rental rates for the lower income elderly tenants. We will partner with churches to help with transportation and other minor needs the elderly tenants may have.

Self-Help Housing
Glory Development is committed to working with the USDA Rural Self-Help Housing Program, the TDHCA Boot Strap program and individual families needing to create "sweat" equity in order to be able to purchase their home.

 

WE NOT ONLY HAVE AN OPPORTUNITY TO HELP SOLVE THE AFFORDABLE HOUSING PROBLEM, WE HAVE A RESPONSIBILITY TO DO SO!