New Homeownership Opportunities
In December 2019, OPAL was awarded grant funding of $205,000 from the Washington State Housing Trust Fund to continue our successful scattered site program. This grant award will be the foundational funding for OPAL to add four more homes by either purchasing existing homes or moving homes to new locations and converting those to the community land trust form of ownership.
OPAL will purchase houses that are in good condition and moderately priced. OPAL will then resell the house, using grant funding and some donations to lower the price so that it is affordable for a low-income purchaser. Through the transaction, OPAL will retain ownership of the land and lease the land to the new homeowner. The ground lease will enable the house to remain permanently affordable.