Mr. Labb is not a starry-eyed idealist. He spent 14 years overseeing the development of non-profit housing. When government funding evaporated, he began thinking of other ways to get moderate-income people into the housing market. He says he began thinking like a thrifty purchaser, rather than a developer trying to get the most money out of a piece of land. So Options for Homes buildings lack saunas, pools or model suites.
Appliances are usually extra, as is the cost of a parking space.
In payment, Options takes a fee of 2 to 3 percent, which is included in the purchase price. When it s all added up, the difference in cost is considerable. Despite the emphasis on no frills, the building does not look cheap. Outside, the handsome, historical red-brick fa ade was maintained. Ms. Munroe not only owns one of Mr. Labb s homes, but she also works for the company.