Our Solutions

Homeownership

Pouring the foundation for wealth creation

PAHA is forming public and private alliances to create a new path to homeownership for low-to- moderate-income workers and seniors. Our goal is to establish a local supply of homes that are affordable now and for generations to come.

PAHA will achieve this through two unique programs based on qualified incomes: Community Land Trusts and Deed Restricted Fee Simple Homes (Fee Simple). Both provide alternatives to a standard home purchase that reduce the initial cost of a home. (see box below)

In these programs, PAHA manages long-term restrictions placed on the title deed or a land lease. Owner occupation is required. The percentage of market appreciation a seller can earn is capped at a fair return.

The remaining equity is shared with PAHA and is used to keep the homes affordable for future income-qualified buyers. “Sharing the equity” lets PAHA help area workers get into a home over and over again.

FEE SIMPLE HOMES

Deed Restricted Fee Simple Homes are for households earning around $97,000 to $116,000 annually which is approximately 100-120% area median income (a combined wage of $47-$56/hour). The house and land are sold together, but PAHA reduces the full purchase price through public and private alliances.  

PAHA collaborates with municipalities and other jurisdictions that need affordable worker housing to create developer incentives such as increased density and unique zoning options. It gives developers the flexibility to build a small percentage of homes dedicated to local workers and seniors in an approved subdivision at much lower prices.

COMMUNITY LAND TRUSTS (CLTS)

CLTs are for households earning around $58,000 to $82,000 annually which is approximately 60%-95% area median income (a combined wage of $29-$44/hr). Qualified homebuyers purchase only the house while the land (owned by PAHA) is leased separately at a significantly reduced cost to the homeowner. PAHA acquires land either through donations or purchases that are offered at below-market rates.

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Our Partners

What does data say about
home ownership?

70% want to own their own home.
60% prefer to rent.

What does data say about
shared-equity homes?

70% are first-time homebuyers.
60% go on to buy market-rate homes.
Individuals and families build wealth by earning a fair return and paying down a mortgage instead of paying rent, with the added benefit of a steady monthly payment so long as they reside in the home.
Resulting neighborhoods lead to greater health, educational and employment outcomes for residents.