Our Plan

At Homestead Development Corporation (HDC), our mission is to provide attainable and sustainable housing for essential workers and those who have served the community. Through our shared-equity model of homeownership, we ensure that this mission benefits both current and future buyers, preserving housing affordability for generations to come.

why we do it

In response to the 2019 Housing Needs Assessment conducted for the Town of North Elba and the Village of Lake Placid, it became evident that local workers and retirees were increasingly unable to afford housing in the community. The rising cost of homes left local residents without affordable options.

Homestead Development Corporation was established to address this need. Our most recent project, Fawn Valley, exemplifies our commitment to creating homeownership opportunities. Located off Wes Valley Road on Pioneer Lane, this development includes six single-family homes and sixteen two-bedroom townhomes, designed for families earning up to 200% of the Area Median Income (AMI). Buyers of these homes include: teachers, nurses, state employees, and retired members of the community. 

Through these efforts, we continue to support the local workforce and senior citizens, ensuring that the people who are vital to our community can live here too."

Benefits

The Fawn Valley Development will bring many benefits to the community including:

  • Help to make affordable housing available for those who provide essential services to the community.

  • Attract families who desire to become residents and part of the community – engaging in activities and the educational system.

  • Support socioeconomic, trade and professional diversity of the middle class in Lake Placid, contributing to community sustainability.

  • Provide additional property tax revenues to the Town of North Elba / Village of Lake Placid.

  • Provide ownership possibilities to those who have been prevented from buying a home in the Community due to the high cost of homes.

  • Provide well-paying jobs during construction as well as engage local professionals in its development and sales of properties.  

About Homestead Development Corp.

Homestead Development Corporation (HDC) was founded in April 2020 as a non-profit corporation. We are a public charity and a private developer and have been granted 501C3 tax exempt status by the IRS. Our board is made up of local individuals with expertise in construction, development, community housing, finance, and real estate. We will be selling these homes and townhouses at our cost.

Homestead Development Corporation’s goals are:

  • Develop affordable housing for the essential workers of Lake Placid.

  • Place housing throughout the community so that it is an integral part of the community.

  • Promote energy efficiency in the construction and operation of the new homes.

  • Form relationships with local businesses and organizations, such as North Woods Engineering.