Cottages at Mile Branch is a 25-home lease-to-own community in Covington that creates an affordable pathway to homeownership for working families and veterans. Thirteen of the homes are reserved for veterans, reflecting RNDC’s commitment to expanding housing opportunities for those who have served our country.
As part of the larger Groves at Mile Branch community, the neighborhood features newly constructed single-family homes designed to provide long-term housing stability. Residents lease their homes during the Low-Income Housing Tax Credit (LIHTC) compliance period and have the opportunity to purchase them at its conclusion, creating a unique bridge from renting to homeownership.
The development was financed through Low-Income Housing Tax Credit (LIHTC) funding. Cottages at Mile Branch demonstrates RNDC’s innovative approach to affordable housing by combining quality construction with a sustainable model that helps families build equity and achieve long-term financial stability.