Recent Partnership Helps Bellevue School District Employees Buy Homes

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Bellevue School District recently announced a partnership with a program called Landed, which helps public school teachers, administrators, and staff buy homes. It is the first school district in the Seattle area to partner with the San Francisco-based company.

Landed helps make the process of buying a home more affordable to educators by providing half of the down payment on a home — up to $120,000 per family — in exchange for a portion of the change in value of the home when it is sold. Gains from that process are then reinvested in the program. The assistance is available to any teacher, administrator, or staff member who has been with Bellevue School District for two or more years.

“As the cost of housing in Bellevue continues to rise, too many of our educators are finding it harder to afford homes in the area,” said Bellevue School District Superintendent Dr. Ivan Duran. “We believe Landed will be a valuable solution to help improve school recruitment and retention by providing educators with a new option to help make homeownership more accessible.”

Since the program’s founding in 2015, Landed has helped more than 100 people buy homes in the Bay Area, Los Angeles, and Denver. Co-founder Alex Lofton is a second-generation graduate of Bellevue public schools and the son of retired teacher in the school district.

“I couldn’t be more thrilled to bring Landed’s work to the district and its employees who provided me with such a solid education,” Lofton said. “It’s a humbling privilege to return something to the community that formed my foundation as an entrepreneur and lifelong learner.”

Support for educators in Bellevue School District is now available via application at landed.com.

SOURCE: 425Business.com