Affordable Sustainable Housing for Victoria
The cost of housing in the Victoria area has been rising for many years, while average incomes have not kept pace. Many young families, seniors and working people can no longer afford to own their own home. This leaves our whole community vulnerable to increasing poverty, employee departures, and loss of the small, locally-owned businesses.
Legacy Housing Land Trust wants to change that!
The Legacy Mission
Legacy Housing Land Trust is a charitable society with deep roots in the community that supports the people of the Capital Region and strengthens their communities through the development and stewardship of affordable homes.
What will Legacy do?
- Adapt housing trust models that have proven successful in the US and the UK
- Acquire land and buildings for sustainable living
- Develop housing that meets Living Building Challenge standards
- Educate homebuyers, tenants and the public about housing trusts and sustainable living
- Steward properties for the benefit of current and future generations
How will Legacy homes stay affordable?
Legacy will hold land in trust for the purpose of affordable green housing. People will purchase or rent homes on this land at below market value, as the cost of land is removed from the equation. Resale will be at the same percentage of market value as the original purchase. This way, a one-time subsidy creates permanently affordable housing.