RALEIGH, NC — Raleigh’s first community land trust has announced their first sale to an income-eligible homebuyer.

It’s a major milestone for the Raleigh Area Land Trust (RALT), whose mission is to create affordable housing for low-to-moderate income families in Wake County.

“Dishwasher, microwave, garbage disposal — everything you see here came with the house,” James Watson said.

The 62-year-old would give you a tour of his new home all day long, if he could.

From a new laundry room to a new guest room, where he hopes his family will stay when visiting, Watson says he has everything he needs now thanks to RALT.

Rhet Russell is the trust’s executive director.

“The way it works is, Mr. Watson, he owns the house, he has a mortgage on that house and then he leases the land from us at a very nominal fee. So, its $50 a month that he leases the land, and in return, he’s getting a big tax benefit because he doesn’t have to pay taxes on that land,” Russell said.

RALT is the first community land trust in Raleigh and Wake County.

It sold its first affordable home to Watson last month. Russell calls it a significant milestone for the city.

“It’s not gonna solve the housing issue, but it does provide a different option, an alternative, for someone that wants to be in home ownership,” Russell said.

For Watson, home ownership means independence. The long time maintenance worker finally has a place to put all his equipment, and a place to call home.

“I feel safe here, I feel safe. I have my own yard, my own space, just like having, I don’t know the word, just, peace,” Watson said.

The city of Raleigh helped with this project by providing a 0% interest deferred payment loan to RALT for $130,000.

The loan went toward the purchase and remodel of Watson’s home and the neighboring house.

For more information on RALT, click here.