the LEAP HOUSING TRUST

ensuring housing opportunities remain affordable forever.

 

How does it work?

LEAP acquires land through sales or donations and removes the land cost from the home purchase price. LEAP holds the land in trust while homeowners own the house itself, ensuring the home stays affordable for generations of buyers (99+ years of affordability via a land lease). And homeowners get the benefits of stability and building equity.

 
 
 

THE FIRST 25 & THE TEAM WHO MADE A DREAM HAPPEN

The LEAP Housing Trust was a community-driven effort, a program built by Idaho for Idahoans. The first two communities held in trust, Caritas Commons and Whitney Commons, will bring a combined total of 25 homes which will be affordable forever.

These 25 homes were made possible by $2.2M of contributions from key partners, including: Saint Alphonsus, Laura Moore Cunningham Foundation, Harry Morrison Foundation, Whitney Foundation, First Interstate Bank, Idaho Community Foundation, Blue Cross of Idaho Foundation, Federal Home Loan Bank of Des Moines, United Way and Private Individuals.

And we’re not done. We’re scaling the program to bring countless forever affordable homes to market, but we need capital and land to do so. You can make a difference!

WHY IS THIS PROGRAM NEEDED?

1. Wealth building. By ensuring their mortgages aren’t more than 30% of their income, along with market-driven equity increases, homeowners build more wealth than if they were still in the rental market.

2. Safe from inflation. In an affordable rental home with rates controlled by HUD, costs year over year track with the Consumer Price Index (CPI). In the LEAP Housing Trust, you know your rate is fixed for a period of 30 years.

3. Affordable forever. Most homes on the market that were affordable in 2015 are no longer affordable, even with no change in ownership. That won't happen to any of the homes held in Trust.

No other program can ensure these three outcomes.

FROM PAPER PLAT TO CARITAS PHASE 1

 

take action

Just because one can’t afford the land doesn’t mean we can’t share it. Donated land drives project costs down, which is then passed on to homeowners.

You can join the likes of Saint Alphonsus, Blue Cross + Boise Regional Realtors to fund land procurement that makes affordable homeownership possible.

Plan for your financial future + be a part of solving our community’s biggest challenge. With the LEAP Housing Trust you can do good and do good business.