Home Trust of Skagit, a community land trust organization, completed Wednesday its portion of the Summerlynd neighborhood in downtown Mount Vernon.
With the closing of its final two of four homes in the community, Home Trust completed its portion of the 11-home high density neighborhood that is jointly-built with Skagit Habitat for Humanity. Currently, nine homes are complete on the property. The final two homes by Skagit Habitat should be completed later this year or early next year.
The development has been built with a variety of funding sources and donations by the City of Mount Vernon, Skagit County government, the U.S. Department of Housing and Urban Development, Community Frameworks, BYK Construction, and others, as well as with private funding.
“We are excited to finally have our portion of Summerlynd completed,” said Executive Director Jodi Monroe. “Four families now have homes to call their own and their kids have beds thanks to the hard work and dedication by our partners, funders, and board members.”
All homes in Summerlynd, as well as other Home Trust locations in the county, are part of the nonprofit’s community land trust portfolio. Homeowners own their home but lease the land from Home Trust. Upon resale, homeowners share their equity with the community land trust, which, in turn reinvests the profits into the community so that it can offer downpayment assistance.
“Summerlynd is a beautiful neighborhood and a great addition to the city,” Monroe said. “We’re looking forward to seeing it completely developed in the near future.”
Home Trust now has plans to complete its Channel Cove property in La Conner, where the organization plans to build five more townhouses.
Home Trust of Skagit is a 501 (c) (3) nonprofit organization based in Mount Vernon whose mission is to help residents living or working in Skagit County and earning up to 80 percent of the area median income secure affordable housing.
For additional information, contact Home Trust of Skagit at (360) 428-0014, or go to its website at www.hometrutofskagit.org.