Unique Tools for Affordable and Attainable Homeownership

Owning a home has long been a pathway to stability, wealth-building, and stronger local economies. For families, homeownership means predictable housing costs and the chance to build equity that can be passed on to the next generation. For communities, it keeps the workforce rooted close to jobs, schools, and services. Yet today, both low-income and middle-income households are finding it harder than ever to buy a home. Rising construction costs and land prices have pushed homeownership out of reach for many, creating economic strain for families and challenges for employers trying to retain workers.

To meet this challenge, communities are using a mix of strategies to expand affordable and attainable homeownership opportunities.

• Affordable Homeownership refers to homes that are reserved for households with lower incomes, typically priced so that housing costs do not exceed 30% of household income. These homes are often supported with programs like the Low-Income Housing Tax Credit (LIHTC) and Proposition 123 to ensure long-term affordability.

• Attainable Homeownership is designed for middle-income households—often teachers, nurses, first responders, and other essential workers—who earn too much to qualify for traditional affordable housing programs but are still priced out of the market.

Learn more about Affordability at the Salt Flats here.

Together, affordable and attainable homeownership options create a healthier housing market by giving families across a range of incomes the chance to purchase a home. This not only strengthens neighborhoods but also helps ensure local employers can retain a stable workforce—an important driver of economic vitality.

Why Land is Provided at $0

One of the biggest barriers to affordable and attainable homeownership is the cost of land. By contributing public land at $0, governments significantly lower development costs. This ensures homes can be sold at prices that local families can realistically afford, reducing the need for higher wages just to cover housing.

Importantly, this model does not create excess profit for developers. In these deals, developers have fixed rates of return—set by CHFA and other funding sources—that cap profits and ensure that public investments go directly toward lowering costs for families. As a result, buyers see the savings in lower home prices, reduced monthly payments, and more money staying in the local economy rather than going to land costs.

Different Models at Salt Flats

At the Salt Flats property, two development partners are demonstrating different ways to deliver affordable and attainable homeownership:

• Rural Homes is using a fee-simple homeownership model, where buyers own both the home and the land. Instead of relying on an HOA, affordability is preserved through deed restrictions. This avoids HOA dues, keeps monthly costs lower, and allows families to build equity while ensuring homes remain affordable for future buyers.

• Vertikal is developing a mixed-income homeownership model that blends affordable, attainable, and market-rate homes. The market rate homes cross subsidize the infrastructure and drives down the costs to make other units cost less. Their use of modular/off-site construction helps lower building costs and speeds delivery. By providing townhomes, small-lot single-family homes, and units with ADUs, Vertikal creates a variety of housing choices for households across the income spectrum. The result is a diverse, balanced neighborhood that reflects the local workforce.

Why This Matters for Grand Junction

The Salt Flats development is one of the largest affordable and attainable housing efforts in Grand Junction’s history. By leveraging multiple tools across the project including $0 land contributions, fixed developer returns, and deed restrictions, the project supports the local need for more affordable and attainable housing.

For families, this means access to homes they can actually afford, with predictable payments and opportunities to build wealth. For the local workforce, it means living closer to jobs and schools without being priced out of the market. And for the broader community, it means a stronger, more stable economy where housing supports—not hinders—growth and opportunity.

Learn More / Additional Resources

Other communities across the U.S. are using similar models to expand affordable and attainable homeownership:

• San Antonio, TX – Public Facility Corporation partnerships, where city-owned land is contributed to reduce costs and lock in affordability.

• Austin, TX – Use of public land for LIHTC-supported homeownership projects that serve middle-income families.

• Charlotte, NC – Partnerships with nonprofit and for-profit developers to reduce land costs and create deed-restricted ownership opportunities.

These examples show how cities nationwide are using land as a tool to keep families housed and the workforce strong.