Creative Housing of Greater Charlottesville, Inc. and Greater Charlottesville Habitat for Humanity Inc. are considered "closely related" non-profits and the board of Creative Housing is chosen by the board of Habitat.

Creative Housing's first major project will be part of the Nunley Street development in the Fifeville neighborhood of Charlottesville. During the rezoning process, Habitat worked closely with the Fifeville Neighborhood and the city of Charlottesville on the income mix for that project. The income mix that the city approved for the Nunley Street development is 9 market rate homes to be built and sold by a private builder; 18 Habitat homes to be sold to families that earn 25-60 percent of area median income; and 11 homes to be built by Habitat and sold by Creative Housing to families that earn 60-110 percent of area median income.

By selling affordable homes to families in this income range, Creative Housing will make home ownership possible for some families who would not otherwise be able to purchase a home, but who have too much income to qualify for a Habitat house.

Habitat hopes that many of its volunteers will be willing to work on Creative Housing homes, as well as Habitat homes. Volunteer labor will make the homes affordable to families in the target income range without any financial subsidy from donors. In some cases, income from the Creative Housing houses will help pay for Habitat houses.

Creative Housing has sold its first home. This house, on 6 1/2 Street, was built by volunteers from University of Virginia fraternities and sororities and from the weekday crews. It was sold to a qualified family that earned 60-110 percent of area median income that qualified for a $170,000 loan from a bank or a non-profit lender like VHDA.

In addition to that loan, the buyer will have a $50,000 interest-free deferred loan with Creative Housing. The first time the house is resold, the first buyers will owe Creative Housing that $50,000, plus 25 percent of the home's appreciation in value above its current $220,000 value. The profits from Creative Housing will be re-invested into building more low-income Habitat homes in the Charlottesville area.