 Our Neighborhood: Residential
Targeted Investment Neighborhood (TIN)
Havenwoods Economic Development Corporation recognizes the interdependence between business and residents. To strengthen the residential community, HEDC requested that the Kaul Avenue neighborhood be designated a TIN. The TIN initiative is a home improvement program providing matching grants for home rehabilitation projects in Havenwoods. This initiative resulted in over $900,000 in housing improvements to a small clustered six block area. There is currently a TIN designation in the 84th and Bender Avenue neighborhood.
Area Demographics are:
| 60 th & Silver Spring |
Within 1 mile |
Within 3 miles |
Within 5 miles |
| Population |
21,844 |
160,208 |
387,176 |
| Households |
7,942 |
60,977 |
143,286 |
| % Owner Occupied |
79% |
83% |
77% |
| Persons per Sq. Mile |
5,549 |
5,271 |
5,015 |
| Average household income |
$33,312 |
$39,439 |
$43,509 |
| Total household income |
$256,737,300 |
$2,332,788,500 |
$6,038,527,750 |
| Income per Sq. Mile |
65,216,705 |
76,748,077 |
78,216,536 |
High Standards in Housing:
The housing stock in Havenwoods was built in the late 1950’s and into the 1960’s. This era of building was heavily influenced by the suburban style of housing. The neighborhood consists of ranch style and salt box style homes. This newer housing stock allows for affordable updates.
Many of Havenwoods investors and homeowners have used a home rehabilitation referred to as the Targeted Investment Neighborhood (TIN) program.
Featured here are examples of renovations completed with the TIN program. Since the inception of the TIN initiative there has been $571, 720 invested in home rehabilitation, while leveraging at least $400,000 in additional private investment in required matches. Totaling over $971,720 in home improvements within the TIN area. This home rehabilitation program in some cases doubled the value of the renovated properties.
The New Faces of Havenwoods Investors:
A second key to the success of the Havenwoods neighborhood is the quality of investors the neighborhood now attracts.
Meet Nancy and Thomas Prentice. They are just one example of the many investors committed to progressing the Havenwoods neighborhood.
“It’s about more than an investment, it’s about creating a nice home for a family. We set very high standards for ourselves, our buildings and our tenants”.
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