After several years of county and local business officials calling for more affordable housing, it appears developers of Coinjock Meadows may have answered their pleas.

Ocean Builders is making preparations to soon begin construction of Coinjock Meadows, a 36-acre subdivision that will include 28 single-family homes off Worth Guard Road. The subdivision is the combined effort of several local organizations and businesses that worked together in hopes of providing people — especially first time buyers — the opportunity to purchase a home. Officials held a ground breaking at the site Friday, July 25.

According to officials, Coinjock Meadows will offer home lot packages and buyers can choose between four models, as well as the desired number of bedrooms.

"Our goal is to provide high quality housing in an affordable package for the residents of Currituck," a news release issued by Ocean Builders stated.

Each home lot will include a minimum 20,000 square feet, while more than 15 acres of the subdivision will be reserved for open space. Plans also include developing the southeast corner of the neighborhood into a recreation and garden area for residents.

Other plans include building a boardwalk with a bulkhead for small boats so residents can take advantage of the site's canal access to the Intracoastal Waterway.

Financing assistance for people interested in one of the homes will be provided by the Outer Banks Community Development Corporation.

Daryl Davies, the family housing coordinator for OBCDC, said the organization helps people who want to purchase a home, especially first time buyers.

"We offer credit and home budget counseling, pre-qualify buyers and point them in the right direction to obtain the best financing," Davies said.

There are a lot of mortgage programs available, such as financing from the Federal Housing Authority, Davies said. In order to qualify for the Affordable Housing Program, a single person's annual income cannot exceed $63,870 and a household of four cannot earn more than $91,140.

Davies also said that up to $20,000 in down payment and closing costs may be

available to first time home buyers.

To qualify, a single person cannot have an annual income of more than $36,450, and a couple's combined income cannot exceed $41,700. A family of four can earn as much as $46,900 before losing eligibility. Wanting a home is one thing, said Davies, but before buyers complete a purchase they need to be familiar with the many types of mortgages, as well as the contracts they are signing. The OBCDC offers credit counseling, loss mitigation, first time home buyer classes, reverse mortgage counseling, as well as information about home owner responsibilities.

For more information about Coinjock Meadows, call 480-2507.