PRIEST RIVER — A Priest River affordable housing project has received a $30,000 grant from a regional credit union and its partners.

Working with partners, STCU helped secure nearly $200,000 in late 2024 for critically needed workforce housing projects in Spokane County and North Idaho. Among them is LEAP Housing, which received a $30,000 grant for The Village at River View Ridge, a six-unit workforce housing project in western Bonner County.

The Idaho-based non-profit is working to provide access to safe, stable and affordable homes for Idahoans.

"Hardworking households in our state should be able to afford housing, but it's becoming increasingly out of reach," said LEAP CEO Bart Cochran. "Thanks to STCU's key support through both loans and charitable contributions, we're making homeownership in Priest River achievable for local community members."

The project dates back to 2021, when Kaniksu Land Trust began laying the groundwork for the housing initiative, first establishing a housing advisory committee, structuring operations, drafting the ground lease, and researching mortgage and lending options. Following a community forum sponsored by the land trust, Project 7B and the Selkirk Association of Realtors, KLT officials began thinking about ways to encourage affordable housing options in the region.

A partnership between the land trust and LEAP Housing secured funding for the six-parcel plot within Priest River city limits that would become the Village at River View. Located next to an existing housing development, the site features six buildable lots with water and sewer service, sidewalks, and carports and would allow for the construction of the 1,500 square-foot, 3-bedroom/2-bathroom homes.

The housing trust will offer a 99-year renewable lease on the land, and the homes can be sold or passed on to family as long as the succeeding owners meet the CLT criteria. Homeowners can earn equity capped at 2.5% per year. Qualifying buyers must live in and derive a minimum of 67% of their income from a 5-zip code boundary in the Priest River area.

"We are so grateful for the support from STCU for our Priest River homes," Katie Cox, KLT executive director, said. "These projects require communities and partners to dig in and be directly involved in their success. This is just what STCU is doing."

With grants such as those from STCU, Cox said the community will be able to create housing that matches what the workforce can afford.

"This gift is going to help six families begin to build equity and have stability in their housing," Cox said. "How cool is that?"

With ongoing support from KLT, Bonner Community Housing Agency, and other community partners, LEAP Housing is poised to expand the program into Sandpoint and surrounding areas of need. KLT has already identified several potentially suitable parcels near Sandpoint in Ponderay and Kootenai.

In addition to the LEAP grant, STCU gave a $43,544 grant to the Panhandle Affordable Housing Alliance. The grant will help the alliance provide housing for moderate-income workers in Kootenai County, where the median price of single-family homes has more than doubled in recent years. 

PAHA estimates that 80 percent of Kootenai County residents cannot afford to buy a home, and more than 40 percent cannot afford rent. 

Working through The GoWest Foundation, STCU and FHLB Des Moines teamed up to provide a total of $73,544, including $21,772 from STCU, for two Idaho projects.

Also receiving a grant was Habitat for Humanity of Spokane, $100,000 for its Women Build Program, which included $25,000 from STCU, which was triple matched by the Federal Home Loan Bank of Des Moines, a cooperative of more than 1,200 financial institutions that provide mortgage lending. 

Finally, the STCU’s Here for Good Foundation gave $25,000 to the Northeast Public Development Authority, supporting the Wellesley Project, an affordable housing and childcare in Washington state.