BUILDING COMMUNITY TOGETHER
WELCOME TO THE VILLAGE AT RIVERVIEW RIDGE
The Village At Riverview Ridge in Priest River welcomes YOU to this newly built Community Housing Trust neighborhood. These six townhomes, built with local, working families in mind, are made possible through a Community Housing Trust (also known as a Community Land Trust, or CLT).
Nearly all of the original qualification restrictions have been lifted, making it easier than ever to qualify. This opportunity is made possible through a partnership between KLT, LEAP Housing, and Bonner Community Housing Agency.
Why Build Someone Else’s Nest Egg?
Own your own home in a brand new neighborhood located near trails, the water, and nature - all for about what you already pay in rent. These 3-bedroom, 2-bath, 1,545-square foot townhomes with covered carport are offered at $270,000. Your estimated loan payment could be around $1,800/month - that’s lower than the average cost of rent in Bonner County.
Why Priest River?
A short distance from Sandpoint, the city of Priest River is home to generations of families who thrive in this small town with a rich history. Rising real estate costs in Bonner County have priced out many families and individuals from home ownership. The Village at Riverview Ridge was a turn-key opportunity for the Community Land Trust partnership to build the first CLT in northern Idaho, creating an opportunity for people who earn average wages for the local area a chance at homeownership in the place they live and work.
Priest River’s Sparkling Future. With a new community park being developed on the shores of Priest River, residents will have even more reason to enjoy the quality of life in this special town. Learn more about Two Rivers Park HERE.
YOUR LOCAL COMMUNITY LAND TRUST
EXPLORING INNOVATIVE SOLUTIONS TO HOUSING SHORTAGE AND AFFORDABILITY
A community land trust (CLT), also known as a community housing trust separates ownership of the land from the home allowing a homebuyer to purchase a house while the trust holds the lease on the land. By taking the value of the land out of the equation plus adding additional subsidy, typically donations, the home itself becomes more affordable. Homes are deed restricted to ensure that the home remains affordable in perpetuity.
Grateful acknowledgement to Avista Foundation, Sangham Foundation, Land Trust Alliance, Equinox Foundation as well as anonymous donors for supporting the work to establish a community housing trust project in our region.
May 30, 2024 Kaniksu Community Housing Trust presentation via Zoom followed by audience Q & A.
Read More:
Daily Bee: Community Talks Housing Solutions Watch the recorded session HERE