W.I.N. Column: Valley Opportunity Council

As proof of their commitment to the community, the Valley Opportunity Council (VOC) recently purchased and rehabilitated a residential property on the corner of Hampden and Pearl Streets in Holyoke to provide 11 units of market rate housing near the Center City.  The VOC has identified the need for market-rate housing in the City of Holyoke with no significant governmental subsidies.  Giving the residents of Holyoke an array of options as they advance into self-sufficiency is the goal of the VOC, one they are committed to, one neighborhood at a time.

Purchased in June of 2012 from the Fannie Mae Corporation, the VOC has worked tirelessly to update and improve the building and apartments.  By acquiring the building at 60% of the appraised value, the VOC has been able to make a significant investment in this property.  Two major improvements include converting the building’s heating system from oil to gas, which will pay for itself within two years; replacing the electric service entirely, which was deemed unsafe, and rewiring all the units.

In addition, the VOC has completely refurbished one vacant apartment, with three more currently in progress and two more scheduled.  This rehabilitation has included brand new kitchens, bathrooms, flooring and refinishing of the hardwood floors.  The back porch is also going to be completely replaced, with the plans to do so currently with a local architect.

Click Here to see the gallery of the renovated appartment

 

 

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