Our History
Better Homes, Inc. of Bucks County (BHI) was chartered in 1975. BHI is a Community Housing Development Organization (CHDO) and was the first CHDO in Bucks County. The majority of the members of the Board of Directors are representative of the constituents BHI serves. Many of the Board members meet the federal government test of low income families. Over 80% of BHI's Board of Directors have served on the Board for almost 30 years.
BHI's services are available to lower-income residents of Bucks County. Over the past 30 years, BHI has:
- Developed nearly 100 homes under its rehab-resale program
- Provided nearly 60 affordable rental units
- BHI pioneered Bucks County's first "nonprofit-for profit" affordable housing partnership. This partnership has produced nearly 1000 new, mixed family homes, in four housing developments. The partnership incorporates many first time homebuyer assistance programs. Families whose income is below 80% of the Area Median Income (AMI) are given the opportunity of homeownership through down payment and closing cost assistance.
- BHI is the developer, managing agent and general partner in three Federal Low Income Housing Tax Credit (LIHTC) developments. BHI attracted over $3 million in funding, to develop the projects: Silverlake Plaza Apartments, consisting of 15 units of 2 and 3 bedrooms, located in Bristol, Pa., Towpath House Apartments, consisting of 17 units of 2 bedrooms, located in Morrisville, Pa. and Coleman Court Townhomes, containing 5 units of 2, 3 and 4 bedrooms, also located in Morrisville, Pa. Silverlake is reserved for residents whose income is at or below 60% of the Area Median Income (AMI), Towpath being between 50 and 60% and Coleman Court is between 40 and 50%.
- BHI has an ongoing, scattered site, first time homebuyer program. The program utilizes a combination of Federal funding, bank grants, special financing programs and other foundation grants to acquire, rehabilitate and sell homes to residents below 80% AMI.