Stanwood Crossings is a new concept in Portage focused on making new homes more affordable. The community is designed to be attainable for households earning 80% to 120% of the Area Median Income (AMI).
Stanwood Crossings is a top-quality “Ground Lease” community, meaning residents purchase their homes and lease the land from the Portage Community Land Trust. Ground Lease homeowners have pride of ownership and the financial ability to buy, sell, and mortgage their homes. Homeowners enjoy prices that are much more affordable than other communities because they do not have to purchase the land and the original home prices are discounted from the actual construction cost. When reselling the home, the sales price will be determined by the percentage change in the AMI rate from the time of purchase compared to the time of sale.
As a homeowner in Stanwood Crossings, you will own a very attractive new home that is energy-efficient with a private driveway, an attached two-car garage, and plenty of yard space. These brand-new homes are built with high-quality construction materials, minimizing maintenance and upkeep. You’ll be part of a vibrant “pride of ownership” community where every resident is a homeowner. Most importantly, owning a home in this innovative community is a valuable investment.
To learn more about Stanwood Crossings, visit www.portagemi.gov/stanwoodcrossings.