RCH Shared Equity Program

RCH Shared Equity Program-
Louisville's 1st Long-term Affordable Housing Program

RCH Shared Equity Program is Louisville's 1st Shared Equity Housing Model -
selling more affordable homes with lasting affordability

In 2023 River City Housing created Louisville’s FIRST shared equity, lasting affordability housing program. Since creating the program in summer of 2023, our organization has sold several homes through this new initiative to first-time, income-qualified homebuyers. The RCH Shared Equity Program helps more buyers with limited incomes to afford their first purchase of a high-quality, energy-efficient home with permanent affordability that will be passed along to any subsequent buyers of the same home in the future.

Shared equity housing models have been used successfully across the country as a strategy to overcome the displacement of residents in appreciating neighborhoods due to redevelopment and to keep homeownership attainable as sales prices and interest rates continue to rise. The share equity model utilizes an initial one-time investment to significantly lower the sales price of the home. In exchange for the lower purchase price, the homebuyer agrees to a deed restriction that limits the resale price, making it affordable for each subsequent, income-qualified buyer should they ever decide to sell the home in the future. Because it is a special lasting affordability program, the house sales prices are not considered in area comps therefore they do not impact home values in the neighborhood.

We want to send a huge “THANK YOU” to our RCH Board Members & Shared Equity Committee for your support, time, and input as we worked diligently to get create this program . We also want to thank each of our partners who continually support our efforts to create more affordable housing opportunities in our community: Lisa J Houston LJH Infinity Realtors, John Borders Borders & Borders Attorneys, Kathleen LeBlond, Morris Cummins, Louisville Metro Housing Authority, Louisville Jefferson County Metro Office of Housing & Community Development Dept, our lending partners, Jason Webb and Grounded Solutions Network.

We couldn’t be more excited about the RCH Shared Equity Program and its potential to ensure housing affordability for more of our buyers for generations to come.

#affordablehomeownership | #SharedEquityHousing | #LongTermAffordability