Shared Equity Homeownership Evaluation: Case Study of Wildwood Park Towne Houses
October 26, 2010 By, Kenneth Temkin, Brett Theodos, David Abstract – The Urban Institute
Shared equity homeownership initiatives provide below-market homeownership opportunities to income-eligible families in return for a share of the owners potential capital gains at resale. This case study analyzes affordability, personal wealth, security of tenure, and mobility outcomes for the Wildwood Park Towne Houses, a housing cooperative operating in Atlanta, GA. Despite owners high returns, Wildwood homes saw an increase in affordability. None of Wildwoods owners, who had incomes well below area averages, had defaulted on their share loans. And resale restrictions did not appear to limit mobility, allowing owners to leave with the equity they had built in Wildwood.