In September 2023, the Town of Apex, North Carolina, took a significant step towards addressing the growing affordable housing crisis by unanimously voting to establish a community land trust (CLT). This innovative housing model aims to create a sustainable solution for ensuring affordable housing in a rapidly growing region.
### What is a Community Land Trust?
A community land trust is a non-profit organization that aims to provide affordable housing for low- and moderate-income families by acquiring and holding land for the benefit of the community. Under this model, land is typically leased to developers or homeowners for an extended period—commonly 99 years—in exchange for affordability commitments. The pioneer feature of a CLT is that while homeowners can purchase the structures on the land, the land itself remains under the ownership of the trust, ensuring long-term affordability and preventing speculative price increases.
### Apex’s Community Land Trust Initiative
Mayor Jacques Gilbert noted that the town possesses valuable land parcels, including 13 acres adjacent to the Stone Glen apartment complex. The town’s strategic plan includes leasing this land to incentivize developers to construct affordable housing units. Notably, the assessed value of the land will not be included in the home price. For instance, if a house valuation reaches $400,000 but the land is assessed at $100,000, the homebuyer will purchase the property for $300,000.
Councilwoman Audra Killingsworth echoed the urgency of the situation, stating, “We were definitely falling farther and farther behind when it comes to providing appropriate affordable housing as a community.” The establishment of the CLT is seen as a proactive measure to address the shortage of options for residents across different income levels.
### Motivations Behind the Initiative
The driving forces behind Apex’s decision to adopt the CLT model resonate deeply with the sentiments of local leaders. “This is my hometown. I want as many people to enjoy this as possible,” Mayor Gilbert remarked, stressing the cultural and social benefits of affordable housing. By providing homes that are perpetually affordable, the town aims to maintain its community integrity and inclusivity amidst rapid growth.
Having observed other municipalities like Raleigh and Durham successfully employ CLT initiatives, Apex’s leaders believe they can replicate these successes. The town plans to form a board of directors for the community land trust by November 2023, and aims to finalize operational agreements and bylaws by February 2024.
### Wider Context and Implications
The CLT model is not just an isolated innovation; there are over 600 community land trusts worldwide, with approximately half located in the United States. The rising unaffordability of housing has heightened interest in these long-term solutions across various municipalities. Greg Rosenberg, the executive director of the International Center for Community Land Trusts, pointed out that CLTs frequently partner with cities to harness publicly-owned land, which significantly reduces land costs—an essential component of making housing affordable.
### Challenges Ahead
While the community land trust model holds significant promise, its implementation is not without challenges. The need for ongoing engagement with the community, securing funding for construction, and navigating regulatory frameworks will be crucial. The timeline for starting construction is anticipated around 2026, yet this target depends on effective proposal requests and stakeholder collaboration.
Moreover, the trust must also ensure that the built communities are sustainably maintained and that the model continues to meet the evolving needs of Apex residents. The success of the initiative will largely depend on the active participation of local residents, developers, and stakeholders in ensuring that it meets its lofty goals.
### Conclusion
Apex’s move toward establishing a community land trust reflects a growing recognition of the urgent need for affordable housing solutions in the Triangle region and beyond. By leveraging publicly-owned land and formalizing commitments to long-term affordability, Apex aims to forge a path that allows its residents to thrive in an increasingly competitive housing market. As they embark on this journey, their experiences may serve as a valuable blueprint for other towns facing similar challenges in the quest for housing affordability.
With community involvement, strategic planning, and unwavering commitment from local leaders, Apex is laying the groundwork for a future where affordable housing is not just a dream, but a reality for many.
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