You are here: Home Become A Homeowner Homes for Sale Brand New 4-BR Townhome in Skyway - $330,712
Personal tools
You are here: Home Become A Homeowner Homes for Sale Brand New 4-BR Townhome in Skyway - $330,712

Earlington Village Townhomes in Skyway - 4BR Available Now

 

Steps to buying this home:

Step 1: Submit a pre-application here if you have not already. If you are determined to be eligible you will be notified and added to our interest list.

Step 2: If after evaluating the property online through the Virtual Tour and deciding you have a serious interest in purchasing this home, fill out the Property Purchase Interest Form available at: https://www.tfaforms.com/4909283The deadline to submit this form is Friday, June 4th.

Step 3: Qualified homebuyers will then be invited to schedule a private in-person showing of the home.

Step 4: If after viewing the home in-person you would like to apply to purchase the home, you will receive a link to complete the full Homestead application and upload it through our secure online portal. Applications due Friday, June 18th.

Please do not seek a pre-approval from a lender until you have seen the home in-person and are in the process of submitting a full Homestead application for this home.

We anticipate a lot of interest in this home. Homestead has estimated that the minimum income to meet the requirements for a four bedroom home at Earlington Village is about $79,100 gross per year. However, factors such as the amount available for a down payment may lower that requirement slightly. When there is more than one interested, eligible, and qualified homebuyer we will use an objective tie-breaking process to determine which of the applicants will have the opportunity to sign a purchase and sale agreement and proceed with the purchase. Household size as a fit for the number of bedrooms is one of our tie-breaking criteria. We encourage households of 3 or more to apply to purchase homes at Earlington Village.

If there are multiple interested, eligible, and qualified homebuyers we will use an objective tie-breaking process to determine which of the applicants will proceed with purchase. For more information on our selection process - please see the Buyer Selection page on our website.

Application Timeline:

Week 1 (5/31) Interested homebuyers submit the Property Purchase Interest Form. Due 6/4
Week 2 (6/7) Applicants schedule tours of the home and gather application documents.
Week 3 (6/14) Applicants tour the home and submit the full application. Application due 6/18.
Week 4 (6/21) Homestead review applications and conducts tiebreaker to determine buyer. Buyer determined 6/25.

 

Homestead Logo 250w.jpgtm-logo-2019 250w.png

Homestead CLT Partners with Taylor Morrison to Provide Permanently Affordable Homes in Skyway/Renton

Homestead Community Land Trust is pleased to announce a partnership that will bring affordable homes for income-qualified households to the Skyway-Renton area.  The partnership with the City of Renton and Polygon WLH, LLC (an indirect subsidiary of publicly traded Taylor Morrison Home Corporation (NYSE:TMHC), a leading national homebuilder and developer that operates under the well-established Taylor Morrison® brand)  means that seven homes at the Earlington Village development will be sold as community land trust homes for affordable prices to income-qualified families.

Located in a portion of the Skyway area annexed to the City of Renton, these three- and four-bedroom condominium townhomes will be priced from $298,383 to $330,712, which is affordable to lower-income households in King County. The affordable homes are the result of an agreement between Polygon and the City of Renton that allowed the developer to increase the number of homes to be built at the location in exchange for some being made affordable to households with lower incomes.

Community land trust homes are priced affordably for those who make less than 80% of area median income as defined by the US Department of Housing and Urban Development for the King County area.  In exchange for the opportunity to purchase at far below market-rates, owners of community land trust homes agree to keep the homes permanently affordable through a resale formula that determines the appreciation of the home over time. They do not have to sell the home if their income increases. If, and when, they decide to sell they agree to sell to another income-qualified household at the formula price.

Prospective buyers must apply through Homestead Community Land Trust, and meet income requirements and other qualifications published on Homestead’s website.

“I am very pleased to provide the density bonus to build such high-quality affordable condominiums for home ownership,” said Renton Mayor Armondo Pavone. “Earlington Village is a great example of the collaboration between Taylor Morrison, Inc., Homestead Community Land Trust and the City of Renton to help respond to the region’s affordable housing needs.”

“We’re excited to work with Homestead and hope this will be a model for how we can develop homes that create stability and opportunity for diverse families in our region,” said Nick Abdelnour, VP of Land Acquisition for Taylor Morrison’s Seattle division.

“Homestead is grateful for the opportunity to provide affordable homeownership opportunities in the community of Skyway, and the opportunity to give affordability a permanent address in an area challenged by gentrification,” said Kathleen Hosfeld, Executive Director of Homestead.

One of the Earlington Village homes is available for purchase immediately; two more will be available later this year. The final four will be sold in 2021.

A virtual information session about purchasing the community land trust homes at Earlington Village will be held by invitation only on August 6, at 6 p.m. Homestead and Taylor Morrison staff will provide additional detail on the homes and the process of selecting buyers. Interested households must complete their pre-application to Homestead by July 23rd to be invited to attend the information session.

In order to be invited, prospective buyers must submit a pre-application found on Homestead’s website www.homesteadclt.org in the Become a Homeowner section. The deadline for submitting the pre-application is July 23rd. Applicants who meet Homestead’s income-guidelines will receive the opportunity to register for the virtual information session.

Earlington Village is comprised of 60 condominium townhomes on Renton Ave S. with grounds that include a sport court, a garden, and a park. It is served by the Renton School District. Details available at https://www.taylormorrison.com/wa/seattle/seattle/earlington-village

Homestead Community Land Trust was founded in 1992, and has 215 homes in trust, of which over 50 have been resold through the program. www.homesteadclt.org

Taylor Morrison is the 5th largest homebuilder in the United States. Taylor Morrison acquired the Earlington Village development with its acquisition of William Lyon Homes, the parent company of Polygon Northwest, earlier this year. https://www.taylormorrison.com/