Affordable Housing Work
The Clinic has worked with the Guadalupe Neighborhood Development Corporation (GNDC) for many years, preparing transactional real estate documents, counseling the Board of Directors, and making presentations to third parties, including local appraisal district officials. GNDC is a tax-exempt, non-profit organization in Austin that has been developing and preserving affordable rental and homeownership housing in East Austin for over thirty years. In the past few years, with help from the Clinic, GNDC has developed the first Community Land Trust program in Texas, in which homes are sold to homeowners, while the land underneath the home is leased to the homeowner via a 99-year ground lease. The ground lease prepared by the Clinic contains specific resale restrictions that ensure the home will remain affordable for future owners and also that each homeowner will gain some equity in the home over time. This innovative affordable housing tool enables GNDC to create and maintain affordable homeownership in East Austin, benefiting both current and future low-income homeowners. GNDC’s Community Land Trust work was featured in The Atlantic in July 2015.