Africatown CLT joins NAREB initiative for 2 million new Black homeowners over 5 years.
Affordable Housing developer, Africatown Community Land Trust (ACLT), activates home ownership club program as part of two prong community building strategy.
Seattle, WA - Africatown is proud to announce a partnership with the National Association for Real Estate Brokers (NAREB) on their national initiative to create 2 Million new Black homeowners over 5 years (2mn5). In addition to the partnership with NAREB, Africatown is also partnering with Homestead Community Land Trust, Homesite, and Key Bank to launch a home ownership club program.
Africatown looks to leverage these partnerships in turning the tide of rapidly declining home ownership in the Central District, the City of Seattle, as well as Martin Luther King Jr. County.
As the Liberty Bank Building closes in on one year since opening its doors to those who have been displaced due to gentrification and systemic racism in the Central District, and as Africatown Plaza project has submitted all required paperwork to the City of Seattle Office of Housing, with hopes of breaking ground in early 2021, Africatown takes a bold next step in their long term community building strategy by activating partnerships that open a pathway to property and home ownership.
The Central District was a high percentage Black ownership community decades ago and since then Black home ownership in the Central District has been in steady decline due to several factors including gentrification and rising property taxes.
For years it has been a common misconception that Black people who have sold their property in the Central District or other areas of Seattle went on to purchase a home in South King County at a more affordable price. However, statistics show that is just not happening and that actually Black homeownership in King County has as well been in a steady decline now down to only 28%
Africatown Community Land Trust will be hosting their first Homeownership Education event on December 7th at Black Dot Underground located at 1437 South Jackson Street from 12pm - 3pm
Attendees will be able to register for free with the Africatown Homeownership Club as well as receive valuable information including:
Qualifications and programs to assist
Credit Building & Repair
Learn about the new co-op ownership model coming to Seattle
Learn how to purchase a brand new townhome in Seattle for under $250,000
Those interested in attending the event and becoming a member of the Africatown Homeownership Club can click here for a free ticket to reserve your slot.
WHO: Africatown Community Land Trust
WHAT: Black Homeownership Event
WHEN: Saturday December 7, 2019 12:00pm - 3:00pm
WHERE: Black Dot Underground - 1437 South Jackson Street, Suite 100, 98144
WHY: Increase the number of Black homeowners in Seattle and King County
Africatown Community Land Trust
Africatown Community Land Trust is working for community ownership of land in the Central District that can support the cultural and economic thriving of people who are part of the African diaspora in the Greater Seattle region.
National Association of Real Estate Brokers
The National Association of Real Estate Brokers, (NAREB), is a Real Estate Professional trade organization. We have local chapters across the country who embrace our ideals and mission of “promoting democracy in housing”. While our name suggests an organization of Real Estate Brokers, it is a professional real estate organization which includes membership from multiple disciplines in the real estate industry.