Workforce Housing is Provided in Northwood Renaissance Community Land Trust

September 28, 2007

Workforce Housing is Provided in Northwood Renaissance Community Land Trust

West Palm Beach, Florida- On September 29, 2007, first-time homebuyers Sampson and Marie Lagearre purchased the sixth Community Land Trust (CLT) home built by Northwood Renaissance. The agency partnered with Palm Beach County and Local Initiatives Support Corporation to provide Sampson and Marie with their needed down payment assistance. Their mortgage was provided by Washington Mutual Bank.

Sampson Lagearre is a machine technician for Palm Beach Newspapers and Marie Lagearre is employed by the Breakers. They have 3 children. The family came to Northwood Renaissance after having difficulty obtaining housing that was affordable and met their family’s needs. They acquired a realtor to assist them in their search but the available homes in their price range either lacked enough space for a family of 5 or required extensive repairs. The Lagearres found the CLT houses to be exactly what they needed: well-built, spacious and, most important, affordable.

Northwood Renaissance’s CLT provides an affordable alternative to renting, placing home ownership within the financial reach of many working families by removing the cost of land from the purchase price of the house. The CLT also expands the reach of all funding for first-time homebuyers by lowering the amount of down payment assistance needed for each buyer, thereby extending the reach of the available purchase assistance. This program is a benefit to the community as well because it conserves our affordable housing and the funds used to create it for future first-time homebuyers.

Northwood Renaissance is in the process of completing additional homes through the Community Land Trust for purchase by first-time homebuyers like the Lagearre family. On Wednesday, October 24^th from 6:00 to 8:00 pm at the office of Northwood Renaissance located at 510 24^th Street, West Palm Beach, FL 33407 there will be a CLT Orientation meeting for first-time homebuyers. For additional information about the Community Land Trust and to reserve your seat at orientation, please call Christina Hewitt, Community Land Trust Manager, at (561) 832-6776, extension 107.