Linn Co. CLT
DevNW is excited to be in pre-development on our first Community Land Trust (CLT) Development in Linn County!
DevNW will build 14 CLT homes in Albany. Homes will be a mix of 2 and 3 bedrooms for buyers at or below 80% AMI. Current sales price estimates are around $330,000. Anticipated home sales in Fall 2027.
Curious about a Community Land Trust?
In the CLT model, homes are legally divided from the land, the land is held in trust by DevNW, and the homes are sold to individual buyers. In return, each buyer agrees to sell the home at a price that is affordable below 80% median income, guaranteeing a permanently affordable home in that community. The owner accumulates equity through modest price appreciation and paid down principle on their mortgage, while also benefiting from a fixed mortgage payment.
To learn more about the CLT model, contact Luis Mendoza: luis.mendoza@devnw.org