Affordable Housing

Affordable Homeownership through ALT

ALT constructs or rehabilitates homes and sells them to first-time homebuyers who earn 80% or less of the area median income. The homebuyer and ALT sign a 99-year renewable ground lease at the time of purchase. This ensures that the house remains owner-occupied and establishes a purchase-option if the homebuyer wishes to sell the home in the future. The ALT homeowner has full rights and responsibilities for the home, and can bequeath the home to their children. If the homeowner decides to sell the house, ALT will buy it back or find another low- to moderate-income family or individual to purchase the home.

The first step to start with ALT’s Homeownership program is to attend a free Affordable Housing Information Session.

We have a limited amount of affordable rental units. For more information, see Affordable Rental Options.

Am I eligible for the program?

ALT homes are available for families and individuals that earn no more than 80% of the area’s median income. See the chart below for the maximum family household income limit in our area. Our homeownership clients generally have a minimum credit score of 640 and the ability to make a small down payment. ALT will work with you to determine your eligibility for the program and will connect you with a lender to complete the process. Please note there is a waiting list for homes, but we have several homes under construction.

Maximum annual household Income for ALT program eligibility by household size
(Based on 2023 limits for Athens-Clarke County):

Athens-Clarke County 2023 Income Limits: Persons in Household

1 person 2 persons 3 persons 4 persons 5 persons 6 persons 7 persons
$45,600 $52,100 $58,600 $65,100 $70,350 $75,550 $80,750

So, if you are a family of four and the total annual household income is less than $61,500, you are eligible for our program.

Examples of our work

ALT preserves the historic character of neighborhoods by fixing up older homes which would otherwise be destroyed. The renovation of vacant houses brings life back into the neighborhood and reduces crime. It helps families and individuals stay in the neighborhood where they have grown up and strengthens the community by empowering permanent homeowners to take care of their investment and look out for the best interests of their neighborhood.

The Program is funded through a federal HOME grant and the Community Development Block Grant (CDBG).  The federal HOME Program (Home Investment Partnerships Program) was created by the National Affordable Housing Act of 1990, and allocates funds to participating jurisdictions for home-ownership projects, owner-rehabilitation projects and rental-rehabilitation projects.  Non-profits and other agencies apply to the local jurisdiction for funds to assist with their projects.

Participants will not be discriminated based on race, color, religion, disability, sex, familial status or national origin.