New workforce housing development comes to Priest River

By Reader Staff

The Village at Riverview Ridge is set to introduce six homes designed to be affordable for the local workforce. The initiative comes through a nonprofit collaboration involving Kaniksu Land Trust, LEAP Housing of Boise and the Bonner Community Housing Agency, marking a step toward addressing the critical housing shortage in the area.

The project, which operates on the community land trust model, aims to provide stable, affordable housing options for residents who might otherwise be priced out of the market due to escalating real estate prices. Houses are built on land owned by a nonprofit — in this case, LEAP Housing. The homes, given that the land value is taken out of the purchase price, are less expensive than market rate purchases.

Located in an existing subdivision off of Potlatch Loop, “These homes represent a significant investment in ensuring that our local workers have access to quality, affordable housing right here in Priest River,” said Zeb Moers from LEAP Housing. 

Each home will feature three bedrooms, two bathrooms and measure approximately 1,545 square feet, mirroring the existing homes in the area with similar or enhanced finishes.

Because of the structure of the community land trust model, homes in the Village at Riverview Ridge will remain affordable in perpetuity, with a target purchase price of $260,000. Homebuyers will be chosen through a weighted lottery system designed to prioritize long-term residents working and earning at least 67% of their income in local ZIP codes, including 83804, 83841, 83848, 83856, 83822 and 83821. Would-be homebuyers must also be at or below 120% of the area median income for earnings, which is $76,384 household income for the identified ZIP codes. 

Built by DAUM Construction, funding for the homes came entirely from local sources — no state or federal dollars were used in the development.

“We are so grateful for those in our community that understand the challenge that new homeowners face in this region,” stated KLT Executive Director Katie Cox. “Those same community members came forward to help fund this initial project, and make homeownership a possibility for six families.”

Applications are being accepted. Inquire at leaphousing.com/priestriver, or call Chrystle Horvath at Bonner Community Housing Agency at 208-263-5720. Drawings will be held the first of every month starting Thursday, May 1 and continuing until all the homes are purchased. 

An open house is planned for Friday, April 25, from 3-5 p.m., when the community is invited to take an inside look at what the new homes have to offer.