Six Deer Harbor lots to be site of affordable homes

OPAL Community Land Trust has purchased six buildable lots in Deer Harbor from Lahari Hospice and Respite Care. The lots will soon be the location of six permanently affordable homes. Construction is commencing immediately.

Lahari owned land it had received by donation. The Lahari board offered the land for sale to OPAL at a price below full market value because members believe in the work OPAL is doing to provide permanently affordable home ownership for islanders. The sale also provided Lahari Hospice and Respite with the beginning of a much needed endowment that will maintain the organization’s operations and building.

OPAL was able to purchase the land and proceed with construction thanks to a grant from the Washington State Housing Trust fund and generous donations from islanders. A small gap remains in the total funds needed for the project, and OPAL will continue to fundraise through the fall to secure the remaining dollars.

The prospective home owners on OPAL's waiting list are delighted. Twelve individuals and families have pre-qualified and earned a place on the waiting list for home ownership. Six folks will purchase what will be the first homes offered by OPAL in Deer Harbor.

OPAL Community Land Trust owners purchase homes on land owned by OPAL. The home owner does not pay for the land. In exchange for the reduced price, each home owner agrees, through a lease, to sell the house at a price determined by a resale formula. The resale formula provides some equity gain for the seller, while keeping the home affordable for the subsequent buyer.

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