College Housing Program
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The College Housing Program (the “Program”) was established with the main goal of enhancing Lewis & Clark’s scholarly community, to encourage faculty and staff to reside near campus and to strengthen its recruitment and retention efforts. Under the Program, housing improvements (houses) are sold to eligible faculty and staff, while the College retains ownership of the underlying land through a Ground Lease Agreement with the buyer. This financing structure allows eligible employees to purchase housing at reduced cost while allowing both the employee and the College to participate in the appreciation of the value of the property. During and after the mortgage crisis in the late 2000s, employees were not able to find lending institutions willing to finance mortgages under the unique terms of the program. In response, the College was approved to provide mortgage loans directly to employees participating in the program. In 2022, the program financing terms were further clarified and updated under the guidelines detailed in Board Resolution No. 11 (2022-2023) College Housing Program Financial Terms.
Eligible faculty and staff shall complete an Interested Party Form and include a statement identifying how living close to campus will facilitate their future contributions to the co-curricular life of the College.
Please review eligibility and procedures if you are interested in the program. If you have questions, please contact Billy Walker at email@example.com.