Collier County Launches Innovative Pathway to Homeownership for Renters
Collier County is rolling out a new program designed to help local workers transition from renting to homeownership, providing an opportunity for long-term housing stability amid rising costs.
The “Build to Rent to Own” initiative is aimed at workforce residents, allowing them to rent at affordable rates while simultaneously building equity. Unlike traditional renting, a portion of each tenant’s monthly payment will be set aside as a down payment reserve, which can later be used to purchase the home.
Helping Renters Become Homeowners
Matthew Smith, the program’s creator, explained that the goal is to make homeownership more accessible by constructing quality, affordable housing options. Renters will pay below-market rates for three years, with their payments adjusted based on income. At the end of the rental period, they will have the option to buy the home, using the accumulated reserve as part of their down payment.
“This program is about more than just housing–it’s about financial security and a path to ownership,” Smith emphasized.
Collier County’s Broader Affordable Housing Initiatives
This new initiative is one of several strategies supported by the Collier Community Foundation and the Housing Alliance to address housing affordability in the area. Other efforts include:
- Housing Navigator Program – Offers personalized financial counseling, including budgeting, credit repair, and homeownership planning.
- Workforce Housing Stabilization Fund – Provides short-term financial assistance for workers facing housing challenges.
- New Senior Housing Development – The county recently secured funding for Ekos Cadenza, a 160-unit affordable housing complex for seniors.
Next Steps for the Program
The Housing Alliance is working on securing a location for the first Build to Rent to Own homes, with plans to finalize designs in the coming months. This initiative represents a significant step in providing sustainable homeownership opportunities for working residents in Collier County.
As housing prices continue to rise, programs like this offer a much-needed solution for those seeking a way out of the rental cycle and into homeownership.