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Austin, TX addresses the impacts of gentrification on home ownership with Community Land Trust

Austin, TX Community Land Gentrification Home Ownership

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The Austin Community Land Trust (ACLT) offers 24 units at below-market prices to eligible buyers. Applicants earning 65% of the local median family income and living in gentrified census tracts entered into a lottery for purchasing opportunities. The pilot reduces the overall costs of home ownership by selling homes but leasing land at minimal costs for 99 years. City officials designed the ACLT pilot to expand affordable housing access in a tight housing market.

Land Use Planning / Development Pilot / POC Affordable Housing Equity Diversity & Inclusion

Austin, TX

Municipality in Texas

United States

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Home | Austin Housing Finance Corporation

Austin Community Land Trust creates affordable home ownership opportunities in Austin. Buy your first home in Austin at an affordable price.

Прикачени файлове

May 2022 memo about the Austin Community Land Trust

221.90KB

Важни новини

Report: Austin's program to sell homes to residents impacted by gentrification off to slow start | kvue.com

The City first announced the pilot program back in April. A new report shows that of the two dozen homes, not one has been sold.

Land trust program targets applicants impacted by displacement - Austin MonitorAustin Monitor

Residents in City Council districts 1 and 6 will have the first chance to purchase one of a cluster of single-family homes the city is making available at affordable prices through the Austin Community Land Trust. In a memo released…

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