Westgate Housing Community
The Rationale for Tenant Owned and Controlled Housing
Tenant owned and managed multifamily housing builds neighborhood stability, improved commercial environments and reinvestment in communities. Yet barriers to home ownership are deepening for low to moderate income families, especially minorities. HUD reports 43% of Blacks and 39% of Hispanics own their own homes, as compared to 68% of Whites.
Out of pocket expenses for renters are almost the same as for owners, but renters' median annual income is almost half that of homeowners.
Tenant owned housing helps low income families find new pathways to home ownership and the many lasting benefits of investment.
Our hope is that Westgate (with the help of our community partners) will become a model for resident-controlled and resident-owned affordable housing in Vermont.