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Community Enhancement Success Stories

Posted on: April 8, 2022

Maggie Walker Community Land Trust Home - Dale District

Maggie Walker Community Land Trust home in the Dale District.

After receiving $500,000 of Community Development Block Grant (CDBG) funding form Chesterfield, the Maggie Walker Community Land Trust closed on the acquisition of its first residential property in the county. The nonprofit purchased a vacant single-family home located in the Dale District. It plans to rehabilitate the residence and sell the resident to an income-eligible homebuyer. Additionally, the land trust’s structure enables them to retain ownership of the land beneath the house, leasing it to the homeowner. This significantly reduces the cost of the home for the homebuyer and expands the pool of eligible homebuyers as well as ensuring the home remains affordable in perpetuity.

MELBECK ROAD

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