After six years of laying fundamental groundwork, the Moab Area Community Land Trust (MACLT) is ready to build housing in the Moab community.
MACLT recently received a generous 32-acre land donation on Spanish Valley Drive, formerly known in the community as “Arroyo Crossing.” Over the next few years, MACLT will develop approximately 240 new housing units for Moab’s workforce, creating new home ownership and rental opportunities for local residents. All units will be for sale or rent, but the land underneath will be held by MACLT.
“This takes the cost of land out of the equation, and property is what has become so unaffordable in this area. Upon resale, homeowners will be able to make a fair profit, but not a killing,” Audrey Graham, MACLT board chair, said.
MACLT is a nonprofit organization with a mission to ensure permanently affordable housing opportunities for families in Moab City, Grand County and northern San Juan County.
“CLTs acquire parcels of both developed and undeveloped land and hold them in trust with land leases and deed restrictions; they maintain attainable housing options in perpetuity, regardless of who or how many people own or rent the houses over time,” Kaitlin Myers, MACLT vice chair, said.
The project consists of single-family homes, apartments, town homes, and other housing options for residents who make up to 120 percent of the Area Median Income (AMI), which, according to HUD this year, is $62,400. Fifty percent will be under 80 percent AMI, which is around $42,000 for a family of four.
“These land trusts are such an exciting housing tool because the initial donation keeps on giving in perpetuity; homes may not be ‘flipped,’ or used as overnight rentals, and MACLT will restrict rental and ownership to primary residents of our community,” Rani Derasary, MACLT board member, said.
Each unit in the development will have a renewable 99-year ground lease to control the rate at which the housing price increases, keeping the unit permanently affordable over time. Liz Dana, MACLT secretary, said, “This ground lease protects the homes from experiencing the extreme rise in housing costs typically seen in a tourist-driven economy.”
The Land Trust looks forward to engaging with the community throughout the project’s initial design phases. When the project goes out to bid, the board will be looking for developers who submit proposals that prioritize affordability, quality, locality and energy efficiency of units. MACLT is looking for community investors and businesses interested in partnering to build workforce housing units. To donate, find out more, or inquire about upcoming housing opportunities at the new development, visit moabclt.org.
“These land trusts are such an exciting housing tool because the initial donation keeps on giving in perpetuity; homes may not be ‘flipped,’ or used as overnight rentals, and MACLT will restrict rental and ownership to primary residents of our community.”
– Rani Derasary