The City of Austin Housing Department has opened applications for the Austin Community Land Trust (ACLT), a program aimed at providing affordable homeownership opportunities for first-time buyers. The initiative, managed by the Austin Housing Finance Corporation, targets low- to moderate-income households, allowing them to purchase homes while the land remains in trust. This model reduces purchase costs and ensures long-term affordability.
Mandy DeMayo, Interim Director of the Housing Department and AHFC Treasurer, said, “This long-term benefit makes Community Land Trusts a highly efficient use of affordable housing subsidies.” She emphasized that the model supports lasting affordability and community strength.
Applications will be accepted until all current inventory is sold. Eligibility requires household incomes at or below 80% of the Median Family Income (MFI). A lottery system will prioritize applicants who meet these criteria. Required documentation includes identification, proof of income and household size, generational ties evidence, utility bills, bank statements, mortgage pre-approval letters, and a Homebuyer Education Certificate.
Chanda Gather, Housing Development Manager, highlighted the program’s benefits: “Homes through the ACLT are an affordable and sustainable path to homeownership.” She noted that homeowners lease land from the trust to keep costs manageable.
The ACLT offers assistance with closing costs and access to additional programs like My Choice Texas Home and loans through the Texas State Affordable Housing Corporation. All homes must meet “right-sizing” standards based on household size and are subject to residency requirements under a Ground Lease agreement.
For more information on available properties or resources for homebuyers, visit www.aclt-homes.org or www.austintexas.gov/homebuyer.
Information from this article can be found here.
