DELRAY BEACH, Fla. — Housing affordability is a hot topic at WPTV Let's Hear It community events. At a recent Delray Beach Let's Hear It, we discovered a local solution that's making homeownership possible for low-to-moderate income families.
"Considering what we know about the economy and how expensive everything is, we'd entirely be homeless," David Obee said.
Obee was eager to discuss with WPTV reporter Victor Jorges about what the Delray Beach Community Land Trust means to him and his brother.
WATCH:
About a decade ago, the brothers were struggling with rising rent when they heard about a community meeting at Pompey Park. That meeting changed their lives—they learned about the Delray Beach Community Land Trust, a nonprofit that helps low-to-moderate income families buy and rent homes at prices they can actually afford.
After a year of paperwork, the Obees moved into a 3-bedroom, 2-bathroom house on 14th Avenue. Their monthly mortgage? Just over $1,000. To put that in perspective, they bought their home for around $142,000 in 2009. Today, according to trust executive director Evelyn Dobson, a comparable home would cost at least $450,000.
The trust's homes typically cost around $300,000, but grants and other resources can bring that down to about $275,000. The secret to keeping costs low? The Delray Beach Community Redevelopment Agency (CRA) usually buys the land and transfers it to the trust. This means homeowners only pay taxes on their house—not the expensive land underneath it.
The savings make a huge difference in people's lives, Dobson explains.
"You can keep your healthcare up, save money for your kids college, go on vacations that you never went on before, you can make improvements to your home," Dobson said.
The trust currently manages 146 units total with zero vacancies and five more projects in development. The CRA also offers grants up to $15,000 for exterior home improvements in certain neighborhoods, covering everything from painting and landscaping to driveway repairs and fence installation.
"We have eight (more) homes coming, hopefully within the next year," Dobson said.
To learn more about the Land Trust, visit https://www.delraybeachlandtrust.org/
