New local nonprofit puts out calls
for properties, projects in Southwest
Corner of Southwest Michigan.
Local economic development professional Dan Buckenmeyer, a passionate advocate for the communities he has lived in for decades, is leading the launch of the Southwest Southwest Michigan Community Land Trust (SWSWCLT).
According to a press release, the “region offers a quality of life that is in very high demand. New Buffalo and its surrounding communities have long provided a haven for second homes and summer tourists.”
In the past, local residents found room to live in harmony with the second homes concentrated near the lake. However, in recent years, a pandemic that drove an influx of new residents combined with the rapid growth of the short-term rental industry has stripped affordable housing stock and driven the hyperinflation of housing prices in our communities,” the release states.
Communities like ours are discovering that they cannot thrive or even survive without making living room for the essential workforce that supports tourism and allows a year-round economy to exist,” Buckenmeyer said.
“Communities like Martha’s Vineyard, Jackson Hole Wyoming, Aspen Colorado, and many areas like ours along the Lake Michigan coast have looked to Community Land Trusts as a solution to provide living room for everyone.”
SWSW refers to the Southwest comer of Southwest Michigan, where the nonprofit wiII focus its efforts. CLT refers to Community Land Trust. The CLT model assists households in bridging the financial gap between the mortgage they can afford and the cost of purchasing a home in the communtity. In exchange, homeowners agree to pay it forward through a resale formula that keeps the home affordable for future buyers. The homeowner purchases only the home and the CLT maintains ownership of the land. ln the event of a future sale SWSWCLT is empowered through a land lease to transfer the property to the next income-qualified household. SWSWCLT homes therefore remain affordable in perpetuity.
“The New Buffalo, Three Oaks, and Chikaming communities are known as safe, welcoming, and desirable places. This reputation is built on the strength of the local workforce, which has seen its housing options increasingly constrained – to the point where it is nearly impossible for many to live in the communities they serve,” said Dan Petersen, executive director of the Pokagon Fund, which is providing startup funding for the SWSWCLT. “We see the community land trust as a critical part of addressing this challenge by expanding housing options for the people who work here every day. Ensuring that essential workers like police officers, firefighters, teachers, service industry workers, and others can live and remain fully engaged in these communities is vital to sustaining that character.”
The benefits of a CLT go far beyond those people who have the opportunity to purchase the affordable homes SWSWCLT develops. The ripple effect ,will be seen in better employee retention rates for local employers, a stronger, more stable year-round economy, more successful local businesses, thriving schools, and an enhanced quality of life across all our communities. Even non-CLT neighbors benefit, as studies have shown that CLT homes stabilize and increase nearby property values.
“Success in our mission will of course depend on financial support,” said Buckenmeyer. “But every workforce housing project has to start with land, and we are looking for employers, municipalities, developers, and individuals who can support this effort by helping us to locate and acquire the right pieces of land for our first homes.”
Buckenmeyer said that there are already conversations taking place, but SWSWCLT is ready for action and eager to build a robust pipeline of potential projects.
“We’d love to hear from anyone interested in working and partnering with us,” he said. The SWSWCLT is a nonprofit, community-based and community-managed organization focused on the development of affordable workforce homes designed to remain forever affordable. The SWSWCLT board is comprised of experienced housing development professionals, and will also include homeowners from the CLT homes, giving them ownership and agency over their communities. SWSWCLT is a part of the SWSW Michigan community of nonprofit initiatives focused on improving the quality of life in our Southwest Southwest Michigan communities through economic and community development, small business support, and other programs. For more information and to donate or get involved, visit www.swswclt.org. -STAFF REPORTS