A new community land trust created by the Town of Apex to keep the Peak City a place everyone can call home.
Our story
Apex is one of the fastest-growing towns in North Carolina. That growth is a testament to everything that makes the Peak City special — but it has also pushed home prices out of reach for many of the teachers, first responders, service workers, young families, and longtime residents who make our community what it is. The Town's Affordable Housing Plan estimates Apex needs roughly 13,100 new housing units to keep pace with growth, even as buildable land grows scarce.
In September 2025, the Apex Town Council voted unanimously to create a town-sponsored community land trust — a proven tool for making homes affordable not just once, but permanently. Peak City Land Trust was incorporated as a North Carolina nonprofit on March 20, 2026, and our founding Board of Directors was appointed by the Town Council in April 2026.
We are just getting started. Our board held its organizational meeting in June 2026, and we are now laying the foundation: pursuing federal 501(c)(3) tax-exempt status, adopting our first land development program, and preparing for our first homes.
Mission & vision
As a brand-new organization, our board is currently working — with direction and support from the Town of Apex — to adopt our formal mission, vision, and initial land development program. In the meantime, our purpose is simple:
To acquire and hold land in trust for the Apex community, and to steward permanently affordable homes on that land for generations of neighbors to come.
The model
Community land trusts have been keeping homes affordable in hundreds of American communities for more than fifty years. The idea is simple: separate the cost of the land from the cost of the home.
Peak City Land Trust acquires land — including land conveyed by the Town of Apex — and holds it permanently. The land is never resold, so its cost never inflates the price of a home again.
Income-qualified buyers purchase the home itself at a price well below market — because the land isn't in the price. Homeowners get a mortgage, build equity, and enjoy the same stability as any homeowner, under a long-term renewable ground lease with the trust.
When an owner sells, a resale formula in the ground lease keeps the price affordable for the next qualified family. The seller still walks away with equity — and the home keeps serving the community.
In the example presented to the Apex Town Council, a home that would sell for about $459,000 on the open market could sell for about $359,000 under the land trust model — because roughly $100,000 of land value is held by the trust instead of being priced into the home. And unlike a one-time subsidy, that affordability stays with the home through every future sale.
Governance
Peak City Land Trust is a North Carolina nonprofit corporation governed by a volunteer Board of Directors. Our directors serve without compensation, and our founding board includes representatives of both the Town of Apex and Wake County alongside community leaders in homebuilding, housing policy, and finance.
The Town of Apex sets the framework — including affordability standards and resale protections that run with the land — while the trust carries out the work of acquiring land, partnering with builders, and stewarding homes. As we grow, our governing documents anticipate an evolving board that keeps the trust accountable to the residents and neighborhoods it serves, in the tradition of the classic community land trust model.
Questions & answers
No. We are an independent North Carolina nonprofit corporation. We were created at the direction of the Apex Town Council, our founding board was appointed by the Council, and we work in close partnership with the Town — but the trust is a separate organization with its own board and governing documents.
Yes. Homeowners hold title to their home, qualify for a mortgage, build equity, and can pass the home to their heirs. The trust owns only the land underneath, which it leases to the homeowner through a long-term, renewable ground lease.
Eligibility criteria — including income limits — are being developed by our board in partnership with the Town of Apex and have not yet been adopted. When our first homes are ready, we will publish clear eligibility guidelines and an application process here. Join our interest list to be notified.
We are a North Carolina nonprofit corporation, and our application for federal 501(c)(3) tax-exempt status is in progress. Until it is granted, contributions are not tax-deductible. We'll announce it here when our exemption is approved.
The Town of Apex has identified town-owned land — including a roughly 13-acre site on South Hughes Street — as a potential location for the trust's first homes. Our board is working with the Town on the initial land development program, and we'll share details as plans are approved.
