JPMorgan Chase supporting shared equity strategies to preserve housing affordability in the Inland Empire
NPHS received a $300,000 investment from JPMorgan Chase to support its Community Land Trust (CLT). NPHS’ CLT advances the development of all types of affordable housing.
NPHS created its Community Land Trust as part of a holistic framework to develop, preserve and protect affordable homeownership in neighborhoods throughout the Inland Empire. Limited public funds are available to subsidize housing costs for lower income households, but the amount of subsidy needed continues to grow as housing costs soar. Through the NPHS CLT, access to homeownership for people who are otherwise priced out of the housing market becomes a reality.
Preserving affordability permanently is at the core of the NPHS CLT. By acquiring and transferring land to the CLT, NPHS maintains ownership and controls housing costs by permanently limiting land costs and “locking in” subsidies so that they benefit multiple generations of homebuyers/residents each time the home/unit is sold or rented.
NPHS appreciates JPMorgan Chase’s commitment to affordable housing throughout the Inland Empire. Thank you on behalf of all families that will benefit from your investment.
For more information on NPHS’ CLT and to support our affordability preservation efforts, please contact Greg O’Donnell at firstname.lastname@example.org or (909) 243-7035.