First application deadline for 'Miracle on Britton' homes closes July 15
The first application window for "Miracle on Britton" homes will close July 15. Construction on 28 homes, which will be built on Britton Road off Greensferry Road in Post Falls and priced from $290,000-$399,000, is expected to begin early this fall. The future neighborhood is seen here in early March.
DEVIN WEEKS/Press File
This kitchen is an example of what will be found in the Canyon-style homes that will be among the models built in the "Miracle on Britton" neighborhood in Post Falls. The target selling price for this three-bedroom, two-bathroom home with a two-car garage is $360,000.
POST FALLS — The vision to provide homeownership opportunities for local middle-income workers is beginning to take shape.
The first application window for Miracle on Britton homes closes July 15. Construction on 28 homes, which will be built on Britton Road off Greensferry Road in Post Falls and priced from $290,000-$399,000, is expected to begin early this fall.
"We are preparing to break ground in September/October this year, which is much quicker than we were thinking just two months ago," Panhandle Affordable Housing Alliance Executive Director Maggie Lyons told The Press.
Miracle on Britton is a project of PAHA, a North Idaho nonprofit with a mission to develop and preserve housing in Kootenai County that is attainable for local low-income residents and workers.
In partnership with local builders, developers and community leaders to find solutions to Kootenai County's affordable housing crisis, PAHA will dedicate these homes to households earning combined annual incomes of $75,000-$116,000.
Key features of every home, according to information from PAHA:
• Purchase price will be well below market value/sales price, making the home attainable for local working wage earners.
• Eligibility to purchase is defined by established income limits.
• Owner occupation is required.
• The percentage of market appreciation the homeowner can earn is capped at a fair return that ensures the "built-in equity" stays with the home while earned market appreciation accrues to the homeowner.
Lyons said PAHA already has a list of 40 interested people who have reached out for information about Miracle, which was announced earlier this year.
"We have such a pent-up demand for homeownership by our local workers," Lyons said Thursday. "The phone calls and emails I have received indicate that we will have considerably more applications than we will have homes."
Miracle is a shared equity, fee simple housing development that aims to showcase how PAHA plans to manage deed-restricted shared equity homes, unveiling blueprints for North Idaho to build and sell these shared equity homes, according to PAHA.
The Britton neighborhood will include all deed-restricted fee simple homes.
According to PAHA, deed-restricted fee simple homes are for households earning around $97,000-$116,000 annually, which is approximately 100-120% area median income. The house and land are sold together, but PAHA reduces the full purchase price through public and private alliances.
PAHA will be sending a "Notice to Employers" to the Coeur d'Alene Regional and Post Falls chambers of commerce as well as the Coeur d'Alene Area Economic Development Corporation to request community employers share the application opportunity with their workers, Lyons said.
Email miracleonbritton@pahaid.org or visit pahaid.org for details.
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This article was updated to reflect "Miracle on Britton" will not include land trust homes as originally planned.
The nonprofit pivoted a month ago to use only the deed-restricted fee simple program, which includes land and home. This shift is what allowed construction to begin sooner than planned.
This kitchen is an example of what will be found in the Canyon-style homes that will be among the models built in the "Miracle on Britton" neighborhood in Post Falls. The target selling price for this three-bedroom, two-bathroom home with a two-car garage is $360,000.