Community Home TrustCarrboro, NC

Mission: To create and maintain permanently affordable housing for

the benefit of our community.

Community Land Trusts

• Commonly called CLT’s• A hybrid form of home ownership• Homes are conveyed using a 99-year ground

lease• Enables homes to remain affordable in

perpetuity

CLT Basics

• Ground lease restricts resale prices• Owners earn limited appreciation• Also build equity paying down the mortgage• Often a starter home option

Benefits to Community

• Home buying opportunities for core employees

• Permanent affordability serves many generations

• Good use of public subsidy• Enable renters to become owners

About Community Home Trust

• At the behest of local governments, we converted to 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

Permanently Affordable

• Homeowners earn 1.5% annual appreciation

• Homes must be resold to low-income buyers

Our Buyers

• Target market is 60% to 80% of AMI • Home prices range from $80,000 to $140,000• Primary buyers are public sector employees;

48% are UNC, UNCH or public school employees

Our Buyers

• 55 owners at 60% AMI or less• 67 between 60% and 70% AMI• 53 between 70% and 80%• 16 between 80% and 100%

• Average income = $36,500• Average age = 38

Our Homes

• As of December 2010 – 191 homes in affordable housing inventory; 170 of which are in Chapel Hill

• 36 single family homes• 86 townhomes• 69 condominiums

What is Success?

• The affordable homes “work” for current residents, for surrounding neighborhood and for future residents

• Property values are maintained

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

A Home Trust homeowner and her children.Evan is an artist, whose life has flourished since becoming a homeowner.

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

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

A co-housing development in Carrboro, NC.

Home of a Home Trust board member, a former teacher and a current UNC Ph.D. student.

A home developed by Community Home Trust.

Not an inclusionary home.

Two inclusionary duplex homes designed to resemble a single-family market rate home.

A home developed by Community Home Trust.

An inclusionary condominium building in Chapel Hill.

All 16 units are affordable to households below 100% of AMI.

A home developed by Community Home Trust.

A mixed-use development in Chapel Hill that includes 25% affordable condominiums.

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

Inclusionary townhomes in Chapel Hill.

Inclusionary single family homes in Chapel Hill

A mixed-use condominium development in downtown Chapel Hill.

15% of the units are affordable.

Market-rate condos sell for $500,000 to more than $1 million.

A young couple happy to be living in a downtown condominium.

Close to work and play.

A proud Home Trust dad!

Contact Us

•www.communityhometrust.org• rdowling@communityhometrust.org• “Like” us on Facebook: Community Home

Trust• Follow us on Twitter: @HomeTrustNC