Homes Within Reach, a local non profit, celebrates 100th home mark

Homes Within Reach Celebrates 100th Home Mark

May 1, 2013 – Homes Within Reach (HWR), a Minnetonka-based affordable housing organization, recently sold their 100th home to a local family, according to Janet Lindbo, HWR executive director.  “This achievement is due to the long-term commitment and expertise of our homeowners, funders, community partners, board members and staff,” Lindbo said.

Since 2002, HWR’s mission has been to create, sustain and preserve affordable homeownership opportunities for working households in western suburban Hennepin County. It uses a community land trust practice to allow qualified clients to purchase the house alone and lease the land at a nominal fee, which significantly reduces the mortgage, property taxes, down payment and closing costs.

This means that families can more easily purchase a home, retain it for generations, and work in or near their communities.  As a result, both families and communities can rely on affordable homeownership opportunities and a stronger local workforce and retained community wealth.  HWR’s 100th home was sold to a single Minnetonka mother of two boys, one with special needs.  The path to homeownership is something of a family affair, as her sister purchased an HWR property several years ago.

HWR’s target market is households with incomes at 50%-80% or less of Area Median Income (AMI). They operate in 11 suburban communities in the western suburban Hennepin County and have assisted 107 families in becoming homeowners from May 2002 through April 2013. “We are fortunate to report that our growth has been steady in our first decade despite an extremely challenging economy over the last several years,” Lindbo said.  “The sale of our 100th home reflects our ability to continue maximizing the public and private investment being made in workforce housing.”

For more information on Homes Within Reach and its programs, go to www.HomesWithinReach.org or call 952-401-7071.