The first homes offered through the Central Iowa Community Land Trust are now available to income-qualified buyers. The model lowers the purchase price by allowing homeowners to buy the house while the trust continues to own the land beneath it.
Des Moines has launched its first “affordable forever” homes, giving lower-income families a new path to homeownership while keeping the properties within reach for future buyers.
The first three homes are part of the Central Iowa Community Land Trust, or CICLT. One has already been sold, and applications are still being accepted for the remaining two.
The homes are located in Des Moines’ Columbus Park neighborhood and were completed with support from local builders and housing organizations, including HOME Inc.
The land trust keeps ownership of the property beneath the home
The Central Iowa Community Land Trust separates ownership of the house from ownership of the land.
Buyers purchase the home at a discounted price, while the land remains under the trust’s ownership.
When homeowners decide to sell, they agree to offer the property to another income-qualified buyer at a restricted price set by the program.
The seller can recover the original investment and receive a share of the home’s increased equity, while the resale limits help prevent the property from becoming unaffordable after the first sale.
The model is designed to preserve the long-term value of public and community investments in affordable housing.
The first three homes are now on the market
Local builders and housing groups worked together to deliver the first homes in the program.
One of the three has already been sold. Applications remain open for the other two, according to a video announcement from HOME Inc.
HOME Inc. is managing the land trust while CICLT builds its own operating capacity and works toward becoming self-sustaining.
Local governments invested less than $200,000 in the program’s first-year startup costs. That amount does not include the cost of land or home construction.
Des Moines, West Des Moines and Polk County helped establish the trust
The land trust grew out of several years of organizing and discussion about affordable housing in the Des Moines metro.
A Mid-Iowa Organizing Strategy, known as AMOS, led an advocacy campaign calling for the creation of a local community land trust.
AMOS is a network of churches and community groups that works on public policy issues affecting central Iowa residents.
The effort moved forward through a partnership involving Des Moines, West Des Moines and Polk County. The Central Iowa Community Land Trust was established as an independent nonprofit last year.
Homes must be resold to other income-qualified buyers
The program is intended for lower-income families seeking to purchase a home below the traditional market price.
Buyers agree to limits on the home’s resale price and on who can purchase the property in the future.
The home can still gain value, but it cannot be sold for the full amount it might command on the open market.
By keeping the land outside the traditional real estate market, the trust preserves the home as an affordable option for future buyers.
The program plans to reach 100 homes within five years
The Central Iowa Community Land Trust plans to expand beyond its first three properties.
Jaqueline Chico, CICLT’s program manager, said the organization aims to reach 100 homes within five years.
Community land trusts already operate in hundreds of communities across the United States and are used to preserve affordable homeownership over the long term.
Applications remain open for two of the first three homes offered through the Central Iowa Community Land Trust in Des Moines.
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