Peninsula Housing sells its first affordable home in Northport
From staff reports
Peninsula Housing announced this weekend that the affordable housing nonprofit is excited to welcome John and Kelly Kehl as new homeowners of an affordable home in the village of Northport. The Leelanau natives are grateful for the community of support that made this possible, and Kelly stated in a press release, “We were the first applicants to reach the finish line through this program, and I can’t wait to show others it’s possible to buy a home in northern Michigan!”
The Kehls purchased their home on Ransom Street for $220,000, according to Peninsula Housing founder and board president Larry Mawby.
Thanks to the generosity of donors, bridge lenders, and the Leelanau Township Community Foundation, Peninsula Housing was able to move quickly to purchase the home in Northport at the end of 2023. This investment in affordable housing means this home will remain affordable in perpetuity.
As a community land trust, Peninsula Housing uses a ground-lease model to keep homes affordable for generations. With this model, the ownership of the land and the home are separated, making purchasing the home more achievable for people making the area median income or lower. Peninsula Housing owns the land in perpetuity and sells the home at a reduced cost to qualified buyers with a ground lease. The ground lease limits the amount the home can be resold for, keeping it affordable for future homeowners, forever.
The Kehls qualified to purchase the home through a partnership with the Northern Michigan Community Action Agency (NMCAA). Peninsula Housing credits NMCAA for its expertise in helping people achieve their homeownership goals. Anyone interested in purchasing future affordable homes is encouraged to reach out to NMCAA to learn more about qualifications.
Peninsula Housing is working to purchase and build more homes and needs the support of generous donors to increase the number of affordable housing options. You can help create more affordable housing in Leelanau and northern Michigan by clicking the donate button at Peninsula-Housing.org. Founded in 2021, Peninsula Housing is a 501(c)3 nonprofit organization that works to provide affordable housing that will remain affordable for generations.
