Community Home Trust seeks to strengthen our community with permanently affordable housing opportunities.
Community Home Trust sold its first home in June 2000. In December 2017, the Home Trust acquired the Landings at Winmore, a 58-unit affordable rental development in Carrboro. Our homeowners include nurses, university employees, teachers and others, who serve our community but otherwise could not afford to own a home here. Our tenants are of households earning less than 60% of the area median income; section 8 vouchers are accepted. Today, there are 318 permanently affordable homes in Chapel Hill and Carrboro.
Through our homeownership program, homes can accrue limited appreciation each year, preserving affordability for future generations while allowing current homeowners to build equity. While the Home Trust retains title to each property, ownership is conveyed using a renewable 99-year ground lease.
In 2015, Community Home Trust launched its Energy Efficiency Initiative. With the help of an anonymous donor and Bank of America Charitable Foundation, we set out to help our homeowners have more energy efficient homes, leave less of a carbon footprint, and build wealth through savings. To date, we have:
- provided ~235 CHT homes with 10 LED light bulbs each from our partner, Lowe’s Home Improvement
- insulated the crawlspace under 14 CHT homes
- invested in the replacement of a home’s appliances
Most Home Trust homes are built by private sector developers who are required to provide a percentage of affordable homes in their developments. These homes are sold to the Home Trust at prices that are affordable to our buyers.
As a result of local governments’ housing policies, Community Home Trust is the primary provider of affordable homeownership in Orange County. Our homes typically sell for between $90,000 and $155,000 or 30% to 50% below the market value. Home Trust homeowners live close to where they work and their children attend the best school system in the state.