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How Community Land Trusts Can Advance Racial and Economic Justice [housingmatters.urban.org]

 

By Gabriella Velasco, Housing Matters, February 26, 2020

Neighborhood “revitalization” that spurs private real estate investment in disinvested neighborhoods has, both intentionally and not, contributed to gentrification and displacement in low-income communities. To combat these consequences, practitioners increasingly use community land trusts (CLT) as a tool to concentrate community control and protect against low-income resident displacement.

CLTs are nonprofit, community-based organizations governed by a board of residents and public representatives that work to ensure community-held decisionmaking and shared equity homeownership opportunities. CLTs acquire and secure property with a renewable ground lease and ensure housing affordability in perpetuity. This provides a powerful platform for wealth building and family stability. Importantly, CLTs shift leadership, power, and decisionmaking to residents and help equip communities with the resources to weather the potential impacts of nearby gentrification, such as displacement and sociocultural alienation.

We spoke with Tony Pickett, chief executive officer of the Grounded Solutions Network, to learn more about how CLTs can be used as a mechanism to ensure long-term affordability in gentrification-prone areas, promote inclusive community development, and advance racial and economic justice.

[Please click here to read more.]

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