New Chauncey Housing
New Chauncey Housing Incorporated (NCHI), is a non-profit housing corporation for the City of West Lafayette. Our organization’s goal is to assist low to moderate income persons or families find affordable housing in the City of West Lafayette.
The purpose of our organization is two-fold. We seek to stabilize the near campus New Chauncey Neighborhood by slowing the conversion of single-family homes to rental units, or parent-owned student housing, and provide affordable housing to low to moderate income persons or families. This works to preserve the historic nature and value of the neighborhood.
We accomplish these goals by buying a home that is in danger of becoming a rental property or a parent-owned Purdue student house, supervising the rehabilitation of the home, and marketing the home to low or moderate-income families and individuals. An individual is eligible to buy a home from NCHI if he or she earns $33,900 or less per year. A family of four may earn $48,400 or less per year. The family or individual must also be able to qualify for a mortgage, and must be willing to stay in the home for a minimum of fifteen years or be willing to repay the subsidy with the proceeds of the sale of the home.
