Shorewood CDA reviews land-trust model; presenters estimate roughly $200,000 subsidy to yield $200,000 sale price for duplex units

Members of the Shorewood Community Development Authority on Wednesday reviewed a proposed community land trust model intended to create permanently affordable homeownership, including an estimate that roughly $200,000 of subsidy would be required to reduce the purchase price of a two‑bedroom duplex to about $200,000.

The land‑trust presenters said the model would separate the land from the dwelling under a ground lease, cap future resale appreciation to preserve affordability and rely on a mix of down‑payment assistance and a buy‑down from municipal funds. The CDA took no formal action on the proposal and asked staff and the group to return with priorities and a draft ground lease.

Joseph, a land‑trust presenter, described the housing comps used for the analysis and the subsidy math. “A pretty fair, hypothetical would be 450,000 or multiples, 2 2 bedroom units,” Joseph said, explaining he had aggregated recent duplex sales to establish a realistic purchase price and then “backed into the payment amount” by adjusting the buy‑down to reach an affordability target. Joseph and Lamont, who joined the presentation, said the model assumes rental…