The need for entry level housing is great. There is a growing affordability gap – the difference between housing prices, which have increased 75% and family incomes, which have increased only 5%, both over the past decade.
The three founders of Trillium Housing, Joe, Richard and Fred, have years and years of experience in mortgages, affordable housing, real estate and construction. We put together the Trillium model when we saw that so many people are not able to fulfill their dream and own a home. The gap between their income and house prices has become too big. So we looked for a way to fit in seamlessly with quality housing developers. We wanted to use a financing tool – a mortgage – that people are familiar with. We wanted it to be easy to administer. We don’t need government dollars to make it work (but it’s nice to have extra help for some families!). And we want a way for local investors to be able to invest in a housing project and get a fair rate of return AND know that they are helping a lot of people to fulfill their housing dream.
Trillium Housing Non-Profit is a social enterprise and every dollar Trillium Housing earns is reinvested back into more affordable housing. We manage our non-profit’s funds on a legacy basis and ensure that all activities are focused on the creation of housing affordability.
We think we’ve put together something that fills a growing market need. And we feel good helping people get into homeownership.
*Based on Meridian Credit Union 5 yr closed rate of 2.59% with biweekly payment on April 19, 2016