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Summit Hill land trust outlines modular homes, childcare and strategy to keep housing affordable
Summary
Nathan Ferreira of the Summit Hill Community Land Trust told the Bloomington Common Council on Sept. 18 that the CLT is using ground leases and modular construction to preserve permanently affordable homeownership, has homes priced as low as $205,000, and is planning an early learning center and LIHTC project at the legacy hospital site.
Nathan Ferreira, director of real estate development at the Bloomington Housing Authority, told the Bloomington Common Council on Sept. 18 that the Summit Hill Community Land Trust is pursuing a multi-pronged strategy to preserve affordable homeownership in Bloomington.
Ferreira described the CLT model: the trust acquires and retains land while selling only the home improvements under a ground lease that limits resale to income-qualifying buyers. "The primary purpose of the Community Land Trust is to acquire and hold land in perpetuity for the benefit of the community," Ferreira said, explaining how public subsidy recorded in the ground lease is recycled with each resale to keep prices affordable for the next buyer.
The CLT has used modular construction with Clear Creek modular homes: Ferreira said four modular homes have been built, three sold, and two more under construction. He noted one two-bedroom home is currently listed at $205,000. The CLT intends to sell homes to households earning up to 120% of area median income and said its ground-lease resale formula preserves affordability even when heirs inherit a unit.
Ferreira described a project pipeline that includes the Core Community Flats, a Low-Income Housing Tax Credit (LIHTC) development at the legacy hospital site, where Summit Hill will own the land to keep those units permanently affordable. He also said the CLT plans a two-story early learning center with three affordable two-bedroom units above at 14th and Monroe, serving 28 children aged 0–3, and expects both projects to be completed in 2026 and additional land-trust homes by 2027.
During Q&A, council members asked how buyers apply and finance CLT homes. Ferreira said buyers use conventional mortgages; the CLT adapted a Fannie Mae–approved ground lease so banks can sell loans on the secondary market. He added the program requires buyers to live or work in Monroe County for six months and to complete an information session and the city's Home Buyers Club, which can pair with $10,000 in down-payment assistance and other programs.
Ferreira called for more subsidy and some UDO changes to enable missing-middle housing types (courtyard buildings, stacked plexes and reduced minimum lot sizes for cottage developments). He said modular townhome pilots could increase density but that onsite costs (foundations, delivery, contractor work) raised prices in initial estimates; the CLT plans a market study for demand on townhome-style units.
The CLT asked council members to keep the trust in mind for city grants (HOME, CDBG), RFI opportunities and land opportunities that would allow it to serve lower-income buyers.
Council members thanked Ferreira and signaled interest in coordinating UDO changes, down-payment assistance and continued outreach.
