It’s clear to many how beneficial community land trusts can be in high-cost markets or areas with rapidly escalating home prices. However, many people don’t see the need for CLTs in lower cost markets, particularly those that are blighted and in disrepair. An article in Shelterforce provides an example of how this long-term affordable homeownership tool can be highly effective in stabilizing and revitalizing high-poverty neighborhoods wracked by foreclosures and vacant homes. Although the article highlights the work of Northern Communities Land Trust in the neighborhoods of Duluth, Minnesota, several of these benefits could easily apply in similar neighborhoods across the country. These benefits include:
How has your community used CLTs and other shared equity homeownership programs in lower cost, blighted areas? What other considerations, benefits and challenges are involved in using CLTs and similar programs
in this context?