SIOUX CITY, Iowa (KTIV) -
The economic dip has put the dream of owning a home on hold for millions of Americans.
Now, a partnership between Sioux City and a local developer is turning to turn the tide, and helping more people reach that American Dream.
With a career in the military, John Bolles never stayed in one place for very long.
"I traveled all across the world," said Bolles.
When it was time to retire from the Air Force, "He gave me the choice, wherever I wanted to go," said his wife Coty.
Coty, a southern California native, decided they'd settle down in John's hometown, Sioux City.
"I wanted to come here," said Coty.
They moved from Las Vegas.
"Much different mentality here. Not as fast-paced, and I like that," she explained.
Owning a home was not financially feasible. So they rented, for five years.
"Being the age that I am, I was beginning to think I would never own a home," said John, who is 49.
"I drove by these everyday watching them be built," said Coty of the houses.
In 2011, Moos Meadows, an affordable housing development was built on the city's northside. Federal dollars helped subsidize construction costs. In return they're sold at a lower cost to those who couldn't normally qualify for a mortgage. Because the homes cost more to build than they are sold for, the developer H&S Properties also received some tax breaks from the city.
"It's a great thing to celebrate for the neighborhood. We're very proud of this project," said Sioux City Neighborhood Services Supervisor Paul Barnes.
In April, the Bolles got the good word, that they'd been approved.
"My mortgage payment is less than what I was paying in rent," said Coty.
They moved into the three bedroom ranch seven weeks ago.
"I'm still telling myself everyday that this is our home, that we own this home. I didn't think that this was possible, to own a brand new home," added Coty.
"It's just an outstanding feeling to actually own one now," said John.
The American dream came true for this Sioux City family.
On Monday, the city council will be asked to put additional federal grant money towards the construction of the final four homes in the development.
To see if you qualify for a home call developer Sam Moos at (712) 258-5592.
