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On Saturday, February 1, Napa County officials joined those from the City of Napa and Burbank Housing to celebrate the groundbreaking of Redwood Grove.
Redwood Grove is a new development on Redwood Road in Napa, jointly funded by the County and City that will provide homes for 34 first-time home buyers already selected by lottery from more than 500 applicants.
With the average home purchase price in Napa County reaching nearly $700,000, the Board of Supervisors was thrilled to invest $1.68 million in this development that will offer home ownership opportunities at a price that is affordable to the soon-to-be residents purchasing these houses.
Home prices will range between $200,000 and $425,000, and will allow the purchasers the chance to begin building equity by exiting the rental market.
The County’s investment will also ensure that the homes remain affordable when sold to future buyers.
The Board of Supervisors is particularly proud that target marketing resulted in 93% of the homebuyers being current residents of Napa County. The homebuyers represent a wide range of employees in the workforce, including the education, public service, hospitality, and wine industry workforce sectors. Nearly all homebuyers have children, and 31% are single mothers.