Maggie Walker Community Land Trust offers an alternative model for homeownership that preserves affordable options forever. In a community land trust (CLT), the land trust owns the land, allowing the homeowner to purchase the home at a reduced rate. The homeowner enters into a 99 year lease with the trust, and can use the land as a typical homeowner. When the homeowner goes to sell the house, they receive all of the equity from their downpayment and monthly mortgage payments, plus half of the appreciated equity (calculated as the difference between the value at the time of purchase and the time of resale). The other half of the appreciated equity stays in the house, allowing the next qualified homeowner to purchase the home well below market value.
MWCLT homes are available to families up to 115% of area median income.
| Family size | 115% AMI |
| 1 person | $62,300 |
| 2 people | $71,200 |
| 3 people | $80,100 |
| 4 people | $89,000 |
| 5 people | $96,150 |
| 6 people | $103,250 |
| 7 people | $110,400 |
| 8 people | $117,500 |
MWCLT homes are currently being built in Church Hill and Southern Barton Heights.
