Curated Podcast: Working together to create affordable housing that lasts
On July 11th, the Next City Podcast shared a case study from Richmond, Virginia that offers a possible permanent affordable housing solution that is worth considering for our community. The Maggie Walker Community Land Trust (MWCLT) is a unique non-profit that is both a land bank and a community land trust. This means that, as a land bank, MWCLT can acquire land for little to no cost from the city, and as a community land trust, the organization can develop that land and sell the home at a low cost, while keeping the land itself in their name. This creates affordable housing in Richmond that is permanent; homeowners who buy from MWCLT can keep the home for generations, or sell it, but they must sell it at a capped price to an income-eligible buyer.
The dual role of MWCLT is especially beneficial as it limits competition between the public and private sectors. This case study emphasizes the power that collaboration can have in generating solutions, a lesson that is close to my heart. I have the privilege of working with three initiatives at the Community Foundation, one being Rochester ENergy Efficiency and Weatherization (RENEW). RENEW is another example of a unique effort to address access to housing; we work with numerous community partners in our region to braid resources to administer home repair and weatherization grants, with the mission of making homes more energy efficient, healthier, and safer. (If you’re interested in learning more about RENEW, there is a case study about the initiative in our Inclusive Recovery dashboard that I’d recommend checking out).
What working with RENEW has emphasized to me, and what this example from Richmond only further demonstrates, is that collaboration between various partners across the community sparks creative solutions to important issues, including in the field of housing. This podcast is a quick, interesting episode, and I invite you to give it a listen, to learn more about the history of the MWCLT and to revel in their recent successes!
Contributed by Madison Esposito, Program Administrator for RACF Initiatives and University of Rochester graduate.