MWF and CPAH celebrated Wilmette’s latest affordable home based on Community Land Trust principles at a recent open house event
The Morgante Wilson Foundation (MWF), a 501c3 nonprofit launched in November 2020 by the founders of Evanston, Ill.-based Morgante Wilson Architects, announces it has kicked off its latest fundraising push to assist Community Partners for Affordable Housing (CPAH) in bringing permanently affordable homes based on Community Land Trust (CLT) principles to Wilmette, Ill.
To launch the 2022 year-end fundraising appeal and thank past supporters, MWF joined with CPAH to host an Oct. 16 open house showcasing the latest affordable home in Wilmette resulting from their efforts. The property is one of eight homes acquired by CPAH since 2020 with the help of MWF and other funding partners and sources. Under CLT principles, it will be sold to a qualified low-income household – remaining affordable for the first buyer and all future buyers, while still allowing each owner to build wealth through homeownership. MWF’s current fundraising campaign will support additional permanently affordable CLT homes in Wilmette in the coming years.
“When we established the Morgante Wilson Foundation in 2020, we set an initial goal of supporting the creation of 14 permanently affordable homes in Wilmette over a four-year period,” said Fred Wilson, co-founding partner of Morgante Wilson Architects along with his business partner and wife, Elissa Morgante. “I’m incredibly proud to say we’ve surpassed our two-year fundraising goal through our 2020 and 2021 efforts, and have already helped fund eight of those 14 homes – including three single-family homes and five units that will become permanent rental housing. We can’t thank our supporters enough and are eager to do even more with their help.”
MWF’s emphasis on CLT principles is based on Morgante Wilson Architects’ decade-long history of supporting affordable housing under the model through financial contributions and pro-bono architecture and design services. “We see sustainable affordable housing models like CLT as such a critical tool for making homeownership accessible to more individuals and families,” said Morgante. “Fred and I set out to create the Morgante Wilson Foundation to focus our firm’s philanthropic efforts on affordable housing based on those same principles.”
The Community Land Trust model holds the land in a trust, which allows a home to be sold at a greatly reduced price – not just for the first homebuyer but for all future homebuyers, in perpetuity. Homeowners can still build wealth and profit when they sell their homes, but the CLT model guarantees the property will remain affordable for future generations of buyers. Likewise, the affordable rental units supported by MWF provide the opportunity for eligible low- to moderate-income households to establish a track record for timely rent payments and work toward homeownership down the line. Individuals and families participating in the rental and for-sale programs are also eligible for CPAH training, such as financial literacy courses.
Last year, MWF assisted in the acquisition of Wilmette’s first permanently affordable CLT home. MWF’s initial geographic focus is on Wilmette, where Morgante and Wilson are long-time residents, but the organization intends to branch out to also support neighboring north suburban communities.
“Our work as residential architects reinforces our belief that everyone deserves a place that they can call their own,” said Wilson. “Providing a mix of housing that’s attainable for a variety of incomes is a necessary foundation for communities to grow and thrive. This is especially true on the North Shore – which has great schools, parks and community programs, but attainable housing for many people who work in these communities is often difficult to find.”
Funds raised as part of the 2022 year-end campaign will go towards continuing to grow the Foundation and supporting the next tranche of permanently affordable homes in Wilmette and surrounding communities.
The Morgante Wilson Foundation is led by a board of directors that, in addition to Morgante and Wilson, consists of John Leonard, a principal with Morgante Wilson Architects, and Craig Caffarelli, a long-time Wilmette resident and partner at GEM Realty Capital, a Chicago-based commercial real estate investment company.
For more information about the Morgante Wilson Foundation or to make a donation, visit www.morgantewilsonfoundation.org.
About Morgante Wilson Architects
Morgante Wilson Architects, Ltd. is an architecture, interior design and urban planning firm specializing in residential and commercial design, as well as LEED certification. Founded in 1987, Morgante Wilson Architects has designed innumerable projects throughout Chicago, the Midwest and the country. Morgante Wilson has received AIA Chicago’s prestigious “Young Architect Award,” AIA Special Recognition Award for Interiors, as well as awards for several historic rehabilitation projects. The firm’s work has been featured in an array of noteworthy publications ranging from The Wall Street Journal and Chicago Tribune to Traditional Home, while its projects have been exhibited at the Art Institute of Chicago, The Chicago Architectural Foundation and the Chicago Athenaeum. For more information on the company, visit www.morgantewilson.com. To learn more about Morgante Wilson Architects’ projects and approach to design, visit its blog, “Show & Live Well,” at http://www.morgantewilson.com/blog.
