American Rescue Plan funding going towards affordable housing in Delaware

DELAWARE – The Delaware State Housing Authority is launching two new affordable housing programs funded by the American Rescue Plan Act.

Both programs are focusing on the development of new affordable housing units across the state. The 20 million dollar Catalyst Fund aims to transform vacant and run-down properties into affordable units for low and moderate-income homebuyers.

Another 10 million is going towards the Market Pressure relief fund, which relieves construction material cost increases caused by COVID-19.

The Delaware State Housing Authority says it’s a significant investment and shows a commitment to making more housing.

“These funds go towards breaking ground on new construction for rentals and homeownership projects and the funding sources are diverse and cover rentals and homeownership,” said Laurie Stoval DHSA Director of Public Relations.

She says many of the projects under construction that are being helped could be up and running, within a year’s time.