Webster Groves land trust lists first home to preserve affordable ownership

The Webster Groves Community Land Trust announced it will list its first resale-restricted home in early summer as part of a plan to keep ownership affordable in a market with a median price around $475,000. Board member Kathleen Bivvens told the Business District Commission the trust buys properties, retains ownership of the land and sells the house to the homeowner under a long-term ground lease to lower the purchase price.

Bivvens, who identified herself as a land trust board member and a 27-year Webster Groves resident, said the trust’s model preserves affordability by keeping the land in trust while allowing homeowners to build limited equity. "We then resell the house to a homeowner. We maintain ownership of the land, and we have the homeowner sign a 99-year lease," she said. She described the trust’s first property as a three-bedroom house near Pine Tree behind the recreation center that is undergoing volunteer-led renovations.

Why it matters: Bivvens emphasized that rapid housing replacement and expansion are pricing essential workers out of the city. "The median price home today is approximately $475,000," she said, adding that teachers and other service workers generally cannot afford that level of purchase without assistance. The trust’s stated aim is to enable local workers to live near their jobs by offering below-market resale prices on permanently restricted houses.

How the model works: Bivvens explained the resale formula is designed to return a modest share of appreciation to the seller while keeping the house affordable for the next purchaser. "It’s not traditional home ownership, but it is better than renting," she said, adding the trust plans to manage buyer selection with a scoring metric and, if needed, a lottery to allocate limited opportunities.

Funding and timeline: The trust said the first purchase was made possible by a private donation and that the organization hopes to acquire two homes per year as it expands fundraising and volunteer capacity. Bivvens asked local employers and residents to refer candidates and consider volunteering or donating; she noted the group is largely volunteer-run and soliciting tax-deductible contributions.

Next steps: The trust will post homeowner interest information on its website and said it will share eligibility and selection details as they are finalized. The commission received the update and offered to share the information with district businesses and staff.

Source: Presentation to the Webster Groves Business District Commission by Kathleen Bivvens.