4 votes

Making a home that’s affordable, for good

1 comment

  1. skybrian
    (edited )
    From the article: [..] [...]

    From the article:

    Qualifying homebuyers — families who make less than 80 percent of the area’s median income — can choose to pay roughly $180,000 for a house and the land. Or they can put the land into the Houston CLT and pay for just the structure, about $80,000, and agree to a resale restriction that limits how much the home can appreciate in value.


    Since 2011, every big city in [Texas] has either established or is working to establish a community land trust. Austin has two. A Dallas nonprofit and the City of San Antonio are both actively working to start CLTs. Smaller cities are following suit; even advocates in Abilene — population 122,999 — are looking at the model as housing costs creep up.


    Over the past couple of years, Rogers, of GNDC, says, he’s started to get calls from city planners in unexpected places — smaller Texas cities like Lubbock and La Grange — that have seen housing costs rise rapidly while incomes remain stagnant. The time to invest in a land trust, he says, is before gentrification hits, when land can still be acquired affordably. He still kicks himself for turning down two riverfront lots in Austin selling for $16,000 apiece two decades ago.

    1 vote