Project Aims to Identify Empty Land for Housing Development for 75 Families
Latinos en Spokane, a nonprofit organization with a deep commitment to serving the Latino community, has launched an innovative and ambitious project aimed at promoting homeownership and fostering generational wealth among its members. This initiative, led by Jennyfer Mesa, the organization’s executive director with an expertise in urban planning, is centered around the creation of the Vale Latino Homeownership Cooperative, a unique cooperative development community designed to accommodate 75 families.
The genesis of the Vale Latino Homeownership Cooperative lies in the need to offer a viable alternative to the soaring rents and the increasingly difficult journey towards homeownership faced by many in the Latino community. Breaking away from conventional property development models, which typically see properties being developed and then sold or rented out, this cooperative adopts a more inclusive and participatory approach. Future homeowners, who have already dedicated a year to preparation, are deeply involved in every aspect of their future living space, from designing their homes and gardens to creating playgrounds and establishing community rules. This method places the residents’ needs and preferences at the heart of the development, ensuring a community that truly reflects those who will live there.
The project is a collaborative endeavor, with Latinos en Spokane partnering with Spokane Regional Land Holding Properties LLC, commonly known as Spokane Land Bank, to find suitable land for the community. The Northwest Cooperative Development Center’s Resident-Owned Communities program is instrumental in providing education and preparation for cooperative living. Additionally, SNAP Financial Access Women’s Business Center has played a vital role by conducting seminars on homeownership, further empowering the future residents with knowledge and skills.
Envisioned within the Vale Latino project are 75 prefabricated homes, each estimated to cost around $173,000 for delivery and setup. Unlike manufactured homes, prefabricated homes are constructed in sections at a warehouse before being assembled on-site. This method allows homeowners to build equity over time, a crucial factor in Mesa’s goal of aiding residents in accumulating generational wealth. To further support this aim, Latinos en Spokane is seeking grants to provide families with a 20% down payment, thereby reducing the total loan amount to about $138,000 per family.
The search for suitable land is a critical component of this project. Ben Stuckart, executive director of the Greater Spokane Low Income Housing Consortium overseeing Spokane Land Bank, notes that a property spanning 7 to 10 acres, depending on various factors like proximity to the city and environmental considerations, could cost between $500,000 to $2 million. Stuckart and Mesa are exploring various financing options, including applying for a loan from the state Department of Commerce’s Housing Trust Fund, which supports affordable housing projects in Washington. Additionally, a developer, whose identity remains undisclosed, has expressed interest in assisting with financing the project.
In summary, the Vale Latino Homeownership Cooperative is a groundbreaking initiative that not only aims to provide affordable housing solutions but also seeks to empower the Latino community through homeownership. By involving future residents in the design and rule-making processes, utilizing prefabricated homes, and exploring diverse funding options, Latinos en Spokane is setting a precedent for community-driven, sustainable housing developments. This project stands as a beacon of hope and a model for creating inclusive, equitable communities where homeownership is a key to building a prosperous future.
