Carroll Park is a new kind of neighborhood in south Fort Worth that is designed to make the dream of homeownership more attainable for Fort Worth families.
Households at or below 80% AMI may also qualify for up to $25,000 in down payment assistance from the City of Fort Worth, making Carroll Park homes even more affordable.
Carroll Park uses a community land trust model that helps keep home prices lower and homes attainable for generations to come. When you buy at Carroll Park, you purchase the home, and the Fort Worth Community Land Trust (FWCLT) retains ownership of the land. That means you pay only for the house, not the land value.
Instead of including land costs in your mortgage, you’ll sign a long-term ground lease for just $37.50 per month. This keeps your monthly payment lower and ensures your home remains attainable for future Fort Worth buyers.
The path to owning a Carroll Park home starts here. After you connect with FWCLT, attend an information session, and complete homebuyer education, you’ll be ready to buy when homes become available and prepared for what comes next.
The development consists of attainable housing by a Community Housing Development Organization (CHDO), Housing Channel, in partnership with the Community Land Trust to build and remodel homes within the blocks of McCart, Lubbock, Drew and Bolt.
Yes, all homes will be for sale and owner occupied.
A homeowner would not have to include the value of the land within their mortgage, which can substantially reduce the amount of the mortgage financing.
Community Land Trusts (CLTs) promote housing affordability by separating land ownership from homeownership. CLTs own the land, while families purchase the structures built on that land, often at below-market rates. This approach significantly reduces the initial cost of homeownership, making it more accessible.
No, the ongoing partnership with the Community Land Trust will prohibit investment properties in addition to rules that will stay with the development long term.
No, the additional benefit of the community land trust model is that it prevents gentrification because the homes’ appreciation is limited to ensure long term affordability for families in the future that are priced out of the typical starter home.
The homes will have a variety of sizes ranging from 700 sq. ft. to 1,800 sq. ft.
