Nearly two dozen houses now located on the campus of the University of Mississippi will be moved to other sites in Oxford and Lafayette County as part of an affordable housing program.
LOU-Home Incorporated is the group that will move and rehabilitate 21 homes on faculty row. Company President Fred Laurenzo said there are very few homes in the Oxford-Lafayette County market available for less than $100,000.
Laurenzo expects the houses to sell for between $70,000 and just over $100,000. The price, he said, is a product of the need to build a road for the community, in addition to constructing water and sewer lines, repairing damage caused by the move and buying new heating and cooling units.
Helping make the project possible, the city of Oxford has donated five acres of land, and seven Oxford-area banks will provide nearly $2 million in funding for the project.