Dixon Street Housing

In 2021, The Industrial Commons was approached with an opportunity to purchase 10 acres of land near the Innovation Campus. Previously the site of the Drexel 6 factory, the land sits in an existing well-loved neighborhood, at the intersection of Church and Dixon Street. This parcel has been rolled into an exciting master planning process in conjunction with the adjoining Innovation Campus.

We are working on a mix of housing units that will reflect the needs of the current market. We anticipate creating a mix of single family and attached units with 2-3 bedrooms. In addition to the homes built, plans for the site include a shared green space.

The Industrial Commons has conducted intensive research and outreach talking to affordable housing experts as we refine our ownership models. After conducting intensive research and outreach talking to affordable housing experts to find the best model for keeping housing permanently affordable in our community, our plan is to use the Community Land Trust model. Through this model, TIC would retain ownership of the land of the development, while the homes built would be sold to a home buyer. The homebuyers enter a 99-year lease of the land where they agree to resell the home at an affordable price. This ensures that the cost of the homes remains accessible and affordable for generations to come, while also creating a modest rate of return for those who may sell their homes.

Our Timeline

Townhouse rendering created by Module Housing.

Why Housing?

A 2023 Burke County housing needs assessment showed that:

There aren’t enough rental or for-sale housing options for people living here or who want to live here.
More than 35% of renters and almost 15% of homeowners are cost-burdened.

Burke County needs affordable housing for first-time homebuyers, the workforce, and families and seniors. TIC has focused on creating high-quality jobs for meaningful livelihoods → Now, we see creating a new path towards homeownership as a natural extension of that mission.

How Are We Keeping These Homes Affordable?

The Dixon Street Housing Project will follow the Community Land Trust (CLT) model. Here’s how it works…

A nonprofit that acquires and holds land for the long-term benefit of the community.
Homes on the land can be sold to income-qualified buyers, but the land itself is leased to the homeowner through a long-term, renewable ground lease (usually 99 years).
The homeowner owns the building but agrees to resale restrictions that keep the home permanently affordable.

Land

The land is owned by the Community Land Trust, the homeowner has full rights to the land through a 99-year renewable land lease, where they agree to sell their home to another moderate income buyer.