History
It was 1998 and Portland home prices were climbing. Fast. Meanwhile, incomes were stagnating and even falling. Working families were being left behind, priced out of a soaring market. In particular, whole neighborhoods were pricing families out in droves resulting in the displacement of many long-term residents in close-in neighborhoods. Many were forced to leave the neighborhood that they wanted to live in, or, in some cases, where their families had lived for generations, because they could no longer afford to live there. Community members and government officials, working together, felt that a Community Land Trust (CLT) could help residents who have been priced out of the housing market to achieve the stability and investment opportunity of homeownership. Proud Ground was officially incorporated in December of 1999 and now serves the entire Portland Metro Region with affordable homebuying opportunities.
Specialties
Proud Ground helps people buy their first home--affordably. We serve young people, older people, married, single, families, friends. We help people with stable incomes and steady jobs who can qualify for a mortgage of about $130,000, which is the average cost of a Proud Ground home -- and is much less than a market-rate home. Buying a home through Proud Ground is not only affordable; it's safe and stable. No getting in over your head, no adjustable-rate mortgages with balloon payments. Our homeowners buy homes they can afford, with monthly payments close to (and often less than) what they were paying in rent. We provide lots of help and support before and after homeowners buy. Our homes are safe, sound, energy-efficient and solid. From newly constructed or newly renovated homes, to financial tools and practical guidance, Proud Ground has worked since 1999 to give homeowners equity and stability, and our region homes that will remain affordable for generations to come.