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The original item was published from 11/15/2021 4:28:48 PM to 11/15/2021 4:28:48 PM.

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Community Enhancement

Posted on: March 28, 2019

[ARCHIVED] Maggie Walker Community Land Trust Buys First Home in Chesterfield.


Five months after receiving $500,000 of Community Development Block Grant (CDBG) funding form Chesterfield, the Land Trust has closed on the acquisition of its first residential property in the county.  The nonprofit purchased a vacant single-family home located at 5616 S. Melbeck Road, 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.

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