HOMESTEAD COMMUNITY LAND TRUST
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Mission Statement
Homestead Community Land Trust empowers individuals, stabilizes families and strengthens neighborhoods by creating and preserving affordable homeownership opportunities for modest-income homebuyers in the greater Seattle area.
About This Cause
Affordable Homes for Everyday Heroes Homestead Community Land Trust provides the everyday heroes of King County who keep our community vital -- including first-responders, teachers, health-care workers, grocery clerks, social workers, -- the opportunity to gain stability for their families, safely build equity, and put down roots in their communities. We give them the opportunity to live and thrive in the communities they make great. Founded in 1992 by 12 community activists to arrest displacement in rapidly gentrifying neighborhoods, we are a membership-based organization that supports community-ownership. Our work prevents people from being pushed out of neighborhoods by rising housing costs: we build homes that are permanently affordable, that serve multiple families over time, giving affordability a permanent address in our communities. We build and rehab homes, we fundraise to reduce the price of homes to what is affordable to modest-income families; we make and keep homes affordable through partnerships with our owners, and we support homeowner success. With over 25 years in service to King County, Homestead combines housing development with counseling, education, and other support activities to create a growing inventory of permanently affordable homes and a community of successful homeowners. With a priority to work in areas at high risk of displacement, we are continuing our work in Seattle and expanding into South King County. Strengthening Community When individuals and families achieve homeownership, they are no longer subject to displacement due to rent increases, building sales or the landlord losing the house in foreclosure. Their resources are no longer tied up in commuting, paying high rent or relocating frequently. This increased stability contributes to healthier communities, allowing households to invest more deeply in civic engagement and build stronger connections with neighbors, in addition to keeping children in the same school district throughout the course of their education. When people live near job centers and extended family and friends, their interpersonal networks strengthen the fabric of the community. In addition, homes purchased through Homestead help to stabilize the local housing market in the midst of constant fluctuations, which financially strengthens the broader community. In fact, across the country, community land trust homeowners, like Homestead homeowners, are ten times less likely to experience foreclosure, protecting neighborhoods from the high vacancy rates, loss of property tax income and blight. Empowering Future Generations Unlike the traditional housing market, homes purchased through Homestead remain affordable for every new buyer. This means each dollar spent on a Homestead home is a lifetime investment towards sustainable homeownership and community stability. There is no need to invest additional public and private funds to keep homes affordable at resale. Our homeowners, as stewards of this invaluable resource, are both the key investors and the beneficiaries, helping to preserve a legacy of affordable housing both for their families and their communities.