NAPLES, Fla. — A new initiative in Collier County is working to make home ownership more accessible for local workers struggling with rising housing costs.
The "Build to Rent to Own" program is designed to help renters transition into home ownership by allowing them to build equity while paying affordable rent.
"Build to Rent to Own is a new initiative to finance the construction of dignified, affordable homes for members of the Collier County workforce," said Matthew Smith, the program’s founder.
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The Collier County Housing Alliance hosted its first major fundraiser this week, bringing together donors and affordable housing advocates to support new housing projects. Among them is the Build to Rent to Own program, which aims to help working families secure a home without needing a large upfront down payment.
"The program rents homes to workforce members at affordable rates for three years. During that time, their rent payments are adjusted based on income," Smith said.
A portion of each tenant’s rent will go into a down payment reserve, which they can later use to purchase the home.
"And so, then they now have secure kind of economic footing and greater security over their housing costs in the future," Smith added.
Since publicly launching in 2024 with funding from the Collier Community Foundation, the Housing Alliance has introduced key initiatives, including the Housing Navigator Program to assist with credit, budgeting, and homeownership, and the Workforce Housing Stabilization Fund for short-term loans to workers facing housing instability.
It also helped secure funding for Ekos Cadenza, a 160-unit senior housing complex.
The Housing Alliance plans to have renderings and a site secured for the first Build to Rent to Own homes within the next three months.
