Living in the Corridor is safe, affordable and ideal for those who want to belong to a community. The neighborhoods in the College Hill Corridor have some of the lowest crime statistics in the City of Macon. There are homes to fit every lifestyle and budget, from $60,000 rehabbed loft-style shotgun houses to fully restored $1 million mansions all in the same block. In addition to historic homes, there are brand new homes recently constructed or currently under construction with mortgage options available with payments less than apartment rentals.
The Corridor is a hip place to live, attracting people from all walks and stages of life to enjoy walkable, bikeable neighborhoods with beautiful historic homes and locally owned neighborhood businesses.
Down Payment Assistance Programs: Even if the “cool-factor” isn’t enough to entice you, there are other huge incentives. Mercer University offers up to $20,000 for any of its full-time employees to purchase a home in the Corridor. The program is simple, with few restrictions. For more information, visit Mercer.edu.
Non-Mercer employees may also receive assistance from other sources to cover down payment and closing costs. The City of Macon offers a down payment assistance program through the Economic and Community Development Department. Eligible recipients must earn less than 80 percent of the area median income as determined by U.S. Housing and Urban Development (currently around $28,000 for an individual). This program provides up to $25,000 in down payment assistance to home purchasers in College Hill and is also very easy to use. Contact Tamikia Johnson at 478.803.2418 for more information about the program.
Incentives: Historic homes purchased from Historic Macon Foundation’s neighborhood revitalization programs come with even more incentives, which can be combined with the assistance mentioned above. The first is a property tax freeze. Property taxes in Macon are currently around $2,000 per year for a $125,000 home. Historic homes from Historic Macon Foundation usually have property taxes frozen at a yearly rate between $200 and $1,000 for 8.5 years, saving hundreds of dollars every month. The second incentive is a state income tax credit equal to 30 percent of the amount of money that Historic Macon Foundation expended on the rehabilitation of the home. These state tax credits are so large that most buyers do not pay state income tax for 10 years, meaning that the household sees a six percent increase in income for everyone in the household, usually with a value of hundreds of dollars every month. In addition to offering rehabbed homes, Historic Macon is currently overseeing the new construction of homes in the Beall’s Hill Neighborhood, which range from $75,000 – $170,000.
For a current listing of available Historic Macon Foundation homes, visit HistoricMacon.org.