On May 19, the Fort Worth Community Land Trust hosted a celebration highlighting key milestones for the city’s first community land trust, established by the Fort Worth City Council in 2024. At the center of the event was JPMorgan Chase’s $1.1 million investment supporting the land trust’s community developer initiative, which will provide local and nonprofit developers with training, technical assistance and access to land acquired from the City to build quality affordable homes in neighborhoods threatened by blight and displacement.
Using the community land trust model, the Fort Worth Community Land Trust creates permanent affordability by offering homebuyers quality homes paired with leased land, built-in resale protections, homebuyer education and guidance on down payment assistance programs, all of which result in an attainable path to homeownership for first-time, first-generation buyers of moderate incomes who are increasingly being priced out of the market.
Mayor Mattie Parker opened the program by discussing Fort Worth’s rapid growth and the increasing need for affordable housing options across the city. With Fort Worth now the 10th largest city in the United States and continuing to add approximately 20,000 residents each year, she noted that rising home prices have intensified the need for sustainable homeownership solutions for teachers, first responders, healthcare workers and working families.
“The work we’re celebrating today represents what’s possible when organizations across our city join together to solve our most pressing challenges,” Parker said, while emphasizing the importance of continued collaboration between the public, private and nonprofit sectors.
J.T. Aughinbaugh, vice chair of the JPMorganChase Market Leadership Team in North Texas, expanded on the importance of strategic partnerships and long-term investment in neighborhoods.
“Communities don’t stay strong by accident,” Aughinbaugh said. “Affordable housing impacts workforce stability, economic mobility and opportunities for families to build generational wealth.”
Becky Bass, president of the Fort Worth Community Land Trust, highlighted several key data points illustrating the growing affordability challenges facing Fort Worth residents:
- Between 2010 and 2024, Fort Worth grew by more than 30 percent, outpacing the Texas average.
- Home prices in Fort Worth have surged by more than 50 percent over the past five years.
- Approximately 106,000 Fort Worth households fall within the 60-120 percent Area Median Income range, yet only 6 percent of homes sold are considered attainable for buyers in that income bracket.
- More than 11,000 homeowners and 12,000 renters in Fort Worth are considered housing cost burdened, meaning they spend more than 30 percent of their income on housing costs.
- The median home sale price in Fort Worth is approximately $375,000.
The event also featured a panel discussion moderated by Michelle Thomas, head of philanthropy for JPMorganChase in Texas, with participation from Maggie Parker, Donna VanNess and Jeremy Parker, executives representing Fort Worth Community Land Trust partners Innovan Neighborhoods, Housing Channel and the Rainwater Charitable Foundation, which provided initial funding to help launch the land trust.
Panelists discussed the increasing challenges facing first-time homebuyers, including rising development costs, higher mortgage rates, institutional buying activity and continued population growth. Speakers also stressed the importance of educating the public about the community land trust model and the long-term benefits of permanent affordability.
During the discussion, panelists acknowledged Mayor Parker’s leadership in helping bring partners together and advancing the vision for the Fort Worth Community Land Trust.
Housing Channel is the developer for Carroll Park, the Fort Worth Community Land Trust’s inaugural affordable homeownership community in south Fort Worth. The first phase of the development entered the market earlier this year, featuring newly rehabilitated homes priced at approximately $135,000, along with access to down payment assistance through the City of Fort Worth for qualified buyers.
A highlight of the event was recognition of the developers selected for upcoming home builds in Morningside, Hillside, Stop Six and other Fort Worth neighborhoods, including Alpha Family Group, The Precise Home, BWI Contractors, Inc., Felder Homes and Legacy Construction Solutions. Construction is expected to begin later this year.
Open house events and informational sessions for Carroll Park will continue throughout the summer. Aspiring homebuyers are encouraged to register to learn more at fwclt.org.
Photography by Bruce E. Maxwell
Source: Press release
