Presentation is loading. Please wait.

Presentation is loading. Please wait.

Community Home Trust Carrboro, NC Mission: To create and maintain permanently affordable housing for the benefit of our community.

Similar presentations


Presentation on theme: "Community Home Trust Carrboro, NC Mission: To create and maintain permanently affordable housing for the benefit of our community."— Presentation transcript:

1 Community Home Trust Carrboro, NC Mission: To create and maintain permanently affordable housing for the benefit of our community.

2 About Community Home Trust We began using the community land trust (CLT) model in 2000 Purpose was to enable homes to be permanently affordable Homes are conveyed using a 99-year ground lease

3 Balance owner /community needs Homes must be resold to low-income buyers Homeowners pay down bank mortgages Homeowners earn 1.5% annual appreciation

4 Our Buyers Target market is 60% to 80% of median income ($30K to $50K) Primary buyers are public sector employees; 48% are UNC, UNCH or public school employees

5 Our Buyers Average income = $36,430 Young singles, retirees, single parents and traditional families Average age = 37

6 Inclusionary Housing The Town of Chapel Hill requires 15% affordable units Affordable homes are to be permanently affordable Community Home Trust implements the Town’s policy

7 Our Homes As of September 2011 – 194 homes in affordable housing inventory; 171 of which are in Chapel Hill – 36 single family homes – 89 townhomes – 69 condominiums Home prices range from $80,000 to $140,000

8 Our Organization Operating budget is $665,000 $385,500 from local governments 8 full-time employees

9 What is Success? The affordable homes “work” for current residents, for surrounding neighborhood and for future residents Market-rate property values are not diminished by the affordable homes

10 A Home Trust homeowner with her three children. Elizabeth works at a local nonprofit organization.

11 A Home Trust homeowner and her children. She tells us her life has flourished since becoming a homeowner.

12 This family lives in a townhome in Chapel Hill. John served on the Home Trust Board and is a Project Manager at a locally-based nonprofit.

13 Both mother and father are UNC housekeepers. They fled Burma as refugees and now own a home in Chapel Hill.

14 Pacifica in Carrboro. Home of the Home Trust board President, a former teacher and a current UNC Ph.D. student.

15 A home developed by Community Home Trust in the Northside neighborhood in Chapel Hill.

16 Claremont in Carrboro. Two inclusionary duplex homes designed to resemble a single-family market rate home.

17 Northside neighborhood. A home developed by Community Home Trust.

18 Greenway condominiums in Meadowmont. All 16 units are affordable to households below 100% of median income.

19 Carr Court neighborhood in Carrboro. Developed by Community Home Trust.

20 East 54 in Chapel Hill will ultimately include 25% affordable condominiums.

21 A retired homeowner, happy to be living in East 54, a secure, mixed-use development.

22 Rosemary Place townhomes in Meadowmont

23 Inclusionary single family homes in Larkspur in Chapel Hill

24 Greenbridge in downtown Chapel Hill. 15% of the units are affordable.

25 A young couple happy to be living in Greenbridge. Close to work and play.

26 A proud Home Trust dad!

27 Contact Us “Like” us on Facebook: Community Home Trust Follow us on Twitter: HomeTrustNC


Download ppt "Community Home Trust Carrboro, NC Mission: To create and maintain permanently affordable housing for the benefit of our community."

Similar presentations


Ads by Google