The Holyoke Community Land Trust, Inc. (HCLT) is a community-based
organization dedicated to providing affordable high quality homes to
low- and moderate-income families in Holyoke, Massachusetts. The Land
Trust develops affordable housing, stabilizes neighborhoods and engages
community in the City’s downtown area.
HCLT is one of over 250 organizations in the United States that employ the Community Land Trust model of affordable housing. Under this model, homeowners buy a house but rent the land beneath it from the organization on a 99-year renewable ground lease. This homeownership structure maintains the community control of the land and allows the Land Trust to ensure the owner-occupancy and long-term affordability of the house. When resold, housing prices are determined by a formula based on family income and not by the speculative ups and downs of the real estate market.
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HCLT is one of over 250 organizations in the United States that employ the Community Land Trust model of affordable housing. Under this model, homeowners buy a house but rent the land beneath it from the organization on a 99-year renewable ground lease. This homeownership structure maintains the community control of the land and allows the Land Trust to ensure the owner-occupancy and long-term affordability of the house. When resold, housing prices are determined by a formula based on family income and not by the speculative ups and downs of the real estate market.
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