As long as you make under 75k as a family, live/work within 15 miles of Tacoma, are not a convicted felon, and qualify for a home- Anyone can.
We have partnered with Evergreen Home Loans that does mortgages on Lease Hold Properties. You can simply click on the Apply tab at the top of the page and start the process to qualify.
Workforce housing is commonly targeted at “essential workers” in a community i.e. police officers, firemen, teachers, nurses, medical personnel. Some communities define “essential” more broadly to include service workers, as in the case of resort communities where one finds high real estate costs and a high number of low-paying service jobs essential to the local economy. Workforce housing may be targeted more generally at certain income levels regardless of type of employment, with definitions ranging from 50% to 120% of Area Median Income (AMI).
This is not a state-funded project in any way. The idea came from two families seeing a common issue and realizing that if we wanted to see a solution the only way it would happen is if we did it ourselves. We are privately funded and are currently looking for our next location.
It currently still a moving target but we are shooting for our cottages to range from $235,000 to $255,000. Originally our hope was to be lower than rent on a 2 bedroom or 3 bedroom apartment in Tacoma but with rising interest rates it may be a challenge. We are working with the city to see if we can get a break on certain hookup costs that we will then pass to the buyers and could bring the costs down.
The HOA fees will be somewhere between $75-$100 and will cover water, sewer, garbage, and overall maintenance on the property.
The LeaseHold fee is $100 a month- which means we are leasing the land to you. We are pricing the cottages $75,000-$100,000 under market for new construction to make them more affordable. Most people when they buy a home now live in it on average for 10-12 years now. You can expect to pay $1,200 for the year or $12,000 over the next 10 years which still puts you way ahead than if we priced it normally.
The LeaseHold will not increase throughout the term. The term is 99 years with an auto-renewal of 99 years and then we will turn the land over to the HOA. This means you are protected for the next 198 years.
The houses need to 100% owner occupied so no they will not be allowed to be rented in any way shape or form.
The city of Tacoma only requires us to provide one space per cottage. We will provide spacing for two reasonable sized cars and some additional guest parking nearby.
We believe so much in our project and the quality of our homes that we will actually have a family member living on the property to be the 1st point of contact for any needs. He will walk the property daily and make sure you have someone onsite for your needs.
Tiny homes range from 100 to 400 square feet and typically are on wheels. GHC Cottages are 950-1250 square feet and are on a slab foundation and will not be able to be moved. These are more around the size of home from the 1950s.