Palm Beach County completes sale of eight affordable homes
Key Points(5)
- Palm Beach County has completed the development and sale of eight new affordable villas through its Housing Bond Loan Program, marking the first project completed under the initiative.
- The county partnered with the Community Land Trust of Palm Beach County and the Treasure Coast on the project, investing $2.48 million to bring the homes to completion.
- The funding included $1 million from the HOME Program, approved in May 2024, and $1.48 million from the Housing Bond Loan Program, or HBLP, awarded in October 2024.
- The first buyers closed on their homes in late July, while the final two sales were completed in August.
- Palm Beach County said the entire $1.48 million in HBLP funding has since been repaid from the proceeds of the sales.
Palm Beach County has completed the development and sale of eight new affordable villas through its Housing Bond Loan Program, marking the first project completed under the initiative.
The county partnered with the Community Land Trust of Palm Beach County and the Treasure Coast on the project, investing $2.48 million to bring the homes to completion.
The funding included $1 million from the HOME Program, approved in May 2024, and $1.48 million from the Housing Bond Loan Program, or HBLP, awarded in October 2024.
The first buyers closed on their homes in late July, while the final two sales were completed in August. Palm Beach County said the entire $1.48 million in HBLP funding has since been repaid from the proceeds of the sales.
The homes were developed using a community land trust model designed to preserve their affordability for future income-qualified buyers. Under the model, the land trust retains ownership of the land while eligible buyers purchase the homes, helping keep purchase prices more affordable over the long term.
Jeff Bolton, director of contract development and quality control for Palm Beach County Housing and Economic Development, said the project demonstrates how public funding can be used to expand homeownership while maintaining long-term affordability.
“This project reflects exactly what the HBLP was designed to do, which is to create lasting affordability, support working families, and ensure that public investment continues to serve the community for generations,” Bolton said.
“The success of this project shows how powerful the Community Land Trust model can be when paired with thoughtful funding and strong partnerships.”
County officials said the approach is intended to keep the properties accessible to future income-qualified buyers while promoting neighborhood stability and expanding opportunities for homeownership.
