The Village at River View Ridge

Homeownership | 6 homes | priest river, id

Workforce housing in priest river is now a reality

At the invitation of Kaniksu Land Trust (KLT), LEAP Housing is teaming up with the Bonner Community Housing Agency (BCHA) to build 6 homes in its community land trust (CLT). The team will build truly affordable homeownership options for locals in Priest River. Thanks to the partnerships forged in this development, the 6 homes will have a target price of below $260,000. Only applicants who enter their details will be considered for purchasing the homes. Qualified homebuyers will be selected using a weighted lottery system. The first step is to apply here. If construction goes as planned, homes should be move-in ready as early as May 2025. Construction is already underway.

Only Certain ZIP Codes Can Buy

Through a lottery, the homes will be made for sale to local citizens. The reason for the novel approach is to provide stability to the local workforce. The housing industry often refers to this kind of housing as “workforce housing”. After applications are received, each applicant will be entered into a lottery system. Qualified applicants will be entered at least once, and their entry will be weighted based on the number of years they have resided in a qualifying ZIP code. Other conditions apply as applicants:

• Must live in 83804, 83841, 83848, 83856, 83822 or 83821

• Must earn 67% or more of their income from the above ZIP codes

• Must be at or below 100% Area Median Income based on the ZIP code

• Must be 18 years or older and a U.S. Citizen (with some exceptions)
  

Information for prospective homebuyers

Here is what you need to know to buy a LEAP CLT home. These homes will be priced significantly below market for income-eligible households. These homes differ in the following respects:

• You must occupy the home as your primary residence

• You own the home and lease the land, which is held in trust for the community

• You don’t have to be a first-time homebuyer to qualify, but you can’t own other real estate

• When you sell your home, you keep your equity and a percentage of the home’s increased value

More about the homes

The housing development, an infill project, will transform a six-parcel plot into attainable housing for local families within an existing neighborhood. The planned 1,545-square-foot homes will feature three bedrooms and two bathrooms, offering essential housing options for working households in the area. The housing is located in an existing subdivision called The Village at River View off of Potlach Loop. The homes will use the same floorplans as existing homes with same or better finishes. DAUM Construction is the builder.  Because the homes will be held in a community land trust (CLT), affordability is preserved for at least 99 years. LEAP is the largest provider of CLT homes in Idaho, but the CLT model has been used nationally since 1969. 

More about the unique partnership

LEAP Housing is a nonprofit organization dedicated to creating affordable housing solutions in Idaho. LEAP Housing works to empower communities and provide sustainable, affordable housing options for low- and moderate-income households. LEAP was named ‘Most Talented Nonprofit’ in 2023 by the Idaho Nonprofit Center.

Kaniksu Land Trust (KLT) is a nonprofit organization dedicated to conserving natural landscapes, waterways, and open spaces across North Idaho and Northwest Montana. Through strategic land conservation, community education, and stewardship programs, Kaniksu Land Trust works to protect the region’s natural heritage for future generations. The organization partners with landowners, local communities, and conservation groups to ensure that vital ecosystems, wildlife habitats, and recreational spaces are preserved.

Bonner Community Housing Agency (BCHA) is a nonprofit organization dedicated to addressing the affordable housing needs of Bonner County, Idaho. BCHA works to create and preserve housing options that are affordable, sustainable, and supportive of the local community. Through partnerships, advocacy, and development initiatives, BCHA strives to provide safe, quality housing for individuals and families, ensuring that all residents have the opportunity to thrive.