One of the most common questions we receive is how we will ensure that the future homes at Karwick Village remain affordable. One way we will do this is to model our Karwick Village project like as a community land trust. Homeward Bound Villages recognizes the need for the homes we build to remain forever affordable. So, you may be asking yourself what a is community land trust? In today’s blog post, we are going to explain what a land trust is and how it is used to keep rents affordable. 

A community land trust (CLT) is a nonprofit organization that owns land on behalf of the community. Its goal is to create and preserve affordable housing for generations to come. Think of it as a way to separate land ownership from the ownership of the buildings on that land. In the case of Homeward Bound Villages, we will operate as a land trust would, owning the land and the rental units.  

Here’s how it works: We act as a land trust that permanently owns the land and dwellings, while individuals will rent the buildings on the land at Karwick Village. 

How Do Land Trusts Make Housing More Affordable?

Traditional affordable housing often faces a common challenge: when initial affordability requirements expire, properties can be sold at market rate, eliminating affordable units from the community. Traditional community land trusts solve this problem in several ways:

How Housing Nonprofits Use Land Trusts

Across the country, housing nonprofits are increasingly turning to the land trust model. Here are some common approaches:

Our Vision for the Community

We’re planning to create 12 new affordable rental homes and act as a land trust property in our community at Karwick Village. These homes will serve individuals earning between 30% and 50% of the area median income, and their rents will remain affordable for the long term.

By replicating the land trust model, we can:

Join Us in Creating Lasting Change

The land trust model represents a powerful tool for creating permanent affordable housing in our community. As we move forward with our development plans, we invite you to learn more about this innovative approach and get involved in shaping the future of housing in our community.

Want to learn more or get involved? Contact us today to:

Together, we can create housing that remains affordable for generations to come.

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