Homestead Community Land Trust News

Nova Townhomes Celebrate Grand Opening!

On February 18th, Homestead and the Low Income Housing Institute gathered with their supporters to celebrate the grand opening of the Nova Townhomes, 15 units of permanently affordable housing in a vibrant neighborhood near the International District.

The community’s first home sold in late February to proud first-time homeowners Annie Bach and Robert Hamm.  The grand opening was a festive event, with words of support from community leaders such as Deputy Mayor Darryl Smith and Seattle City Council Member Nick Licata.

Thanks to everyone who joined us in celebrating this remarkable achievement and to the project’s key funding partners: the City of Seattle Office of Housing, the Washington State Housing Trust Fund, the Federal Home Loan Bank of Seattle, Key Bank, Charter Bank, US Bank, and JPMorgan Chase.

Ryan Neff Award Presented to Blue Heron at Annual Meeting

By Rebecca Lane, Development & Communications Director

Thank you to everyone who joined the board and staff of Homestead at our Fall Celebration! The crowd was jovial, and the event was a great start to Homestead’s annual campaign. Many homeowners were in the room, and stood to a round of applause, because of course they are the reason that Homestead exists. 

Homestead was very pleased to award the Ryan Neff Affordable Housing Award to Judy Pigott and Stephan Boyd of Blue Heron JS, LLC. This award is endowed by the CoHo Team on behalf of the late Ryan Neff, a colleague and friend who was dedicated to creating affordable homeownership in Seattle. 

Homestead and CoHo recognized Blue Heron’s vision and commitment to affordable housing solutions in the City of Seattle, with their incomparable gift of land beneath 20 townhomes in the Valtera Townhome development in West Seattle. 

The board and staff wish to express our deepest thanks on behalf of the many families who will benefit over the years, and our gratitude to Judy and Stephan for their extraordinary leadership.

SUPERSTAR DONORS!

• Judy Pigott and Stephan Boyd of Blue Heron JS, LLC donated the land under 20 townhomes in West Seattle, assuring their permanent affordability

• In the 2nd half of 2009, the Seattle Office of Housing has committed $985,000 in purchase assistance to our Homeownership Program

• Chase Bank contributed $50,000 to support our work in the Rainier Valley and White Center

Home Sales Flourish!

Homestead Hopes to Add Its 60th Home by the End of the Year

By Rebecca Lane, Development & Communications Director

Several conditions came together this fall to increase land trust home sales. The $8,000 first-time homebuyer tax credit motivated prospective homeowners to pour into Homestead’s office. Greeting this wave of motivated buyers was new Homeownership Program Director Lindsey Sargent. 

Additionally, two dynamic new partnerships created 35 units of newly constructed, permanently affordable townhomes in Seattle. 

Nova Townhomes, a partnership with the Low Income Housing Institute (LIHI), consists of 15 stunning two bedroom, two bathroom townhomes in the growing Dearborn neighborhood. They are close to downtown, walking distance to the International District, and on two major bus lines. Each new home sells for $227,800. Buyers may be eligible for the $8,000 first-time homebuyer tax credit if they close before April 30, 2010.   

In July, Blue Heron JS, LLC approached Homestead to partner on the sale of the Valtera Townhomes in West Seattle. Ten of the townhomes will sell at market rate for $330,000; ten will sell for $250,000 to Homestead buyers making up to area median income; and ten will be sold to lower income Homestead buyers, with additional public subsidy bringing the purchase price down to $205,000 or lower. Homestead is also working on a partnership with Habitat for Humanity to make two of the homes available to their buyers. 

Homestead is tremendously excited to have provided so many families with homes they can afford, and to have brought these homes into stewardship for the benefit of working families for generations to come. The staff and board of Homestead looks forward to inviting you to a celebration of our incredible progress after the New Year.

Save the Date! Homestead Membership Meeting!

Come and join us in community at Homestead’s 2008 Annual Membership Meeting.   It will be a fun evening at the Central District’s own Central Cinema with wine and a light fare, community building, membership activities and voting. 

The event will be held:

Tuesday, October 21, 2008
7:00 PM to 9:00 PM
Central Cinema
1411 21st Avenue
Seattle WA 98122

This year we are pleased to present the first Ryan Neff Affordable Housing Award to Habitat for Humanity of Seattle/South King County.  Please join us to honor them!

Homestead Community Land Trust’s members and supporters help us accomplish a vital mission in our community and keep homes affordable for generations. 

Please contact us if you would like to help with the following:

□ Volunteer at the event with set up and coordination
□ Help promote Homestead membership in our community

Voting to elect the 2008-2009 Homestead Board Members will occur toward the end of the evening.

There is no cost to attend.  For more information about the event, please contact Kristin Bolken at 206.323.1227 or kristin@homesteadclt.org.

Partner in Affordability

By Kristin Bolken

One of the most exciting aspects of Homestead Community Land Trust homeownership is that it cultivates a genuine partnership between each household and the community.

Homestead homeowners benefit from community generosity and government support and share their good fortune with future homeowners when they resell their home at an affordable price.  Once a home is purchased it becomes a permanent part of the land trust.  Our homes create a vibrant and diverse community we all can afford and enjoy. This is a true partnership to be celebrated!

On February 2nd, Michael Lovelady hosted just such a celebration at his condo on Capitol Hill.  Jeff Green with Windermere Realty and Fred Corbit with the Northwest Justice Project joined Homestead staff and Board for appetizers and drinks to honor this unique partnership.  It was great to take a pause and enjoy the work of the organization and the legacy that is being created. 

Rainier Valley Community Gathering on Development and Gentrification

Facilitated by Dwayne Marsh of Policy Link, this event will explore the dynamics of gentrification and what the Rainier Valley can do to ensure that all its residents benefit from the forthcoming Rainier Valley redevelopment.

Saturday June 17th, 10 AM – 2 PM

New Holly Gathering Hall
7054 – 32nd Ave S

Free lunch and childcare provided.

Translated materials and interpretation available in Spanish, Chinese, Vietnamese, Somali, Amharic, and Tigrigna.

RSVP required for childcare and interpretation. Please call 206-953-5482 to RSVP.

Sponsored by:
Homestead Community Land Trust
A Legacy for Equality, Leadership and Organizing (LELO)
Southeast District Council
Tenants Union

HCLT breaks new ground with Habitat for Humanity partnership

HCLT will add seven homes to its portfolio over the next 18 months through an innovative partnership with Seattle/South King County Habitat for Humanity and the City of Seattle.

Some homes will be new construction, others fully remodeled. Three were structurally sound cottages saved from the wrecking ball by being moved to new locations in a “house parade” along city streets early May 21st. Habitat is coordinating the construction and its signature sweat equity component, as well as financing for the buyers.

The City of Seattle’s Office of Housing is providing vacant lots to the partnership, lowering the project costs. Savings are passed along to low-income buyers, promoting its affordable housing goals.

Homestead Community Land Trust will own the land under each home, and lease it to each homeowner. As with all its homes, it will steward the ongoing affordability of each home, making sure that the community’s investment in affordable housing remains in place. If/when one of these lucky initial buying families decides it is time to move on and sell their home, HCLT will facilitate the sale to a new low income household.

This partnership demonstrates the viability and benefit of adding a community land trust partner to housing projects developed by other organizations. CLTs add a layer of protection for the ongoing affordability of housing. The CLT is the organization that stewards the product of the community’s investment (the affordability) and makes sure that each home will serve many generations of low income homeowners.