Kulshan Community Land Trust, Habitat for Humanity of Whatcom County and the Whatcom Community Foundations Threshold Fund have partnered to build 54 units of the Telegraph Townhomes in Bellingham.
“This fund will exponentially accelerate the number of affordable homes that Habitat and KulshanCLT can bring to market—from 2 to 3 per year, on average, to more than 50 over a few years,” WCF president and CEO, Mauri Ingram said in a press release.
Construction of the first eight units began in June of 2018 and will continue for the next five years. The townhomes on Telegraph Road, which will include two- or three-bedroom units, will be priced for those who earn 30-120% area median income (AMI) range. Mortgages for the townhomes will be between $100,000 to $175,000 with some monthly payments as low as $350.
“Our community is currently experiencing a housing crisis. The lack of affordable homes in Whatcom County and a rental vacancy rate of less than 1% have created a gap in the Housing Continuum,” KulshanCLT executive director, Dean Fearing said in a press release. “These partnerships enable us to continue our work using the Community Land Trust Model to help fill that gap.”
Local businesses such as Topside Roofing and GAF Roofing donated roofing materials and labor. A-1 Builders and Bellingham Bay Builders have donated labor both also donated labor to build the townhomes. The next four units are slated to begin in January 2020 and the first eight units are expected to be completed in March of 2020.