Owns four revitalized service-oriented community shopping centers in Chicago and Baltimore with investments from the community; nearly 350 local residents have invested an average of $2,100 and $2,300 each to purchase the properties. Raised a $50M investment fund in 2023 for an additional 12 - 20 shopping center acquisitions (to the five already owned by Chicago TREND), leveraging 70% debt financing from banks and CDFIs. Build Black wealth through community-owned shopping centers for as many as 1,000 Black residents, entrepreneurs, and small-dollar impact investors who are interested in having a meaningful ownership stake in commercial property in targeted neighborhoods ("At least 5% (and as much as 49%) of the equity of each shopping center acquired will be comprised of Black individuals, entrepreneurs, and small-dollar impact investors.").

Walbrook Junction - Chicago TREND's project utilizing Regulation Crowdfunding (on the crowdfunding platform SmallChange).

Sources and Additional Reading:

https://irp.cdn-website.com/4ae4fac4/files/uploaded/TREND%20Website%20Summary.pdf

https://www.chicagotrend.com/trend-2023-shopping-center-acquisition-strategy

https://www.smallchange.co/projects/walbrook-junction

https://impactalpha.com/chicago-trend-real-estate-fund-raises-10-million-to-create-real-estate-ownership-for-black-residents/

Information updated 10/2023

Preserves, develops, stewards, and manages over 50 permanently affordable real estate to positively impact lives and communities in Colorado. Utilizes dedicated low-interest funding sources (e.g., revolving loan, transit-oriented development fund, etc.) for property acquisition and community land trust ground lease model (used by 12 properties).

Sources and Additional Reading:

https://www.urbanlandc.org/how-we-do-our-work/

https://www.urbanlandc.org/website/wp-content/uploads/2023/09/ULC_ImpactReport_2023.pdf

Information updated 10/2023

Shared nonprofit working spaces in San Francisco and New York, owned by Tides (a nonprofit), which they refer to as "social purpose real estate".

Sources and Additional Reading:

https://www.tides.org/social-purpose-real-estate/

Information updated 10/2023

Shared nonprofit working spaces in San Francisco and New York, owned by Tides (a nonprofit), which they refer to as "social purpose real estate".

Sources and Additional Reading:

https://www.tides.org/social-purpose-real-estate/

Information updated 10/2023

Through its mission driven real estate services, NHS provides access to capital for down payment assistance, developing real-estate properties, and acquiring vacant or distressed properties.

Information updated 10/2023

Commercial real estate trust leveraging a Neighborhood Trust Model to maintain community control of property use and values in perpetuity while reinvesting income into community programs. Their strategy is to buy assets, place them into the trust, and have the community control these assets. Community members are the majority on the board. Transitioning to Perpetual Purpose Trust ("Kensington Neighborhood Trust").

Sources and Additional Reading:

https://nextcity.org/urbanist-news/phillys-kensington-corridor-is-taking-back-power-over-economic-development

https://philadelphia.uli.org/event-recap-preservation-affordability-equity-culture-the-redevelopment-balancing-act/

Information updated 10/2023

A low-profit limited liability company (L3C) focusing on real estate acquisition, development, and management (or what they describe as "a real estate partner") whose members are local entrepreneurs and business owners (51 percent ownership). 49 percent is available for outside investors and collaborators. The development projects (e.g., 1122 W. 63rd Street Chicago) provide retail and office spaces for the members and other local entrepreneurs. 70% of the profits are distributed back to the Impact Investors E.G. Woode Members/Operators receive no dividends from profits. Some remaining profit contributed to reinvestment funds.

Sources and Additional Reading:

https://egwoode.com/wp-content/uploads/2019/03/egwd_org_organizational_strategy_v2_1.pdf

https://nextcity.org/features/the-south-sides-new-collective-approach-to-commercial-corridors

Information updated 10/2023

The Cultural Space Agency, inspired by Community Arts Stabilization Trust, is a mission-driven, values-based cultural real estate development company chartered by the City of Seattle as a Public Development Authority (a quasi-public organization). Strategies include property acquisition, development, management, and master leasing.

El Barrio - Cultural Space Agency's first acquisition. Joined with Cultivate South Park and acquired three neighboring mixed-use buildings and an adjacent parking lot in the heart of South Park. The acquisition is funded by the city’s Strategic Investment Fund, which awarded the agency $2.3 million for the project, as well as by $3.5 million in private donations. The ultimate vision is to transfer these properties into a new community land trust, called “El Barrio Community Trust.

Sources and Additional Reading:

https://nextcity.org/urbanist-news/can-commercial-real-estate-development-help-heal-this-seattle-neighborhood

Information updated 10/2023

A community-centered real estate organization committed to ensuring artists and cultural workers can stay anchored where they create. Partners with arts organizations to guide through real estate acquisition, development, and operation and provide partners with flexibility and options for stability for the future, such as long-term affordable leases or potential for ownership. For example, CAST provided equity for an acquisition, with the goal to be bought out by the partner organization after a certain period of time (e.g., 5-7 years). Use philanthropic support and financing tools like New Markets Tax Credits, bonds, and program-related investments to bring acquisition costs down.

477 Minna - Building donated to CAST by Brookfield Properties in 2018 as part of the community benefit agreements to develop three towers nearby. CAST’s vision is to transform the four-story building into a community arts and cultural hub. Provides artists and arts companies with long-term affordable real estate. CAST took on an active property manager role, booking short- and long-term rentals at below-market rates.

Sources and Additional Reading:

https://cast-sf.org/partnership/447-minna-dempster-building/

Information updated 10/2023

A community-centered real estate organization committed to ensuring artists and cultural workers can stay anchored where they create. Partners with arts organizations to guide through real estate acquisition, development, and operation and provide partners with flexibility and options for stability for the future, such as long-term affordable leases or potential for ownership. For example, CAST provided equity for an acquisition, with the goal to be bought out by the partner organization after a certain period of time (e.g., 5-7 years). Use philanthropic support and financing tools like New Markets Tax Credits, bonds, and program-related investments to bring acquisition costs down.

1007 Market Street - In 2014, CAST acquired the Walker Building during a time of rapid change in the neighborhood with a capital combination of philanthropic monies and NMTC. The purchase allowed a non-profit, multi-disciplinary arts organization founded in 1987 to maintain occupancy of their building, which was at risk of sale to private investors, and the opportunity to ultimately assume full ownership. Over several months from 2015 to 2016, CAST oversaw a renovation project that allowed the Gallery to maximize its space to advance its mission. To secure the space for the arts in perpetuity, a deed restriction was also placed on the building so that, in the event, it did have to sell, it could only go to another arts nonprofit.

Sources and Additional Reading:

https://cast-sf.org/partnership/the-luggage-store-gallery-aka-509-cultural-center/

Information updated 10/2023

The land bank was authorized by city legislation in 2013 and started operating in 2016 as a quasi-governmental agency. Staffed by Philadelphia Housing Development Corp for its day-to-day operations, it consolidates surplus City property, acquires tax delinquent vacant property at Sheriff’s Sale, disposes of surplus publicly-owned property, provides temporary access to property held by the land bank

Sources and Additional Reading:

https://phdcphila.org/who-we-are/publications/land-bank-strategic-plan/

Information updated 10/2023

Established in 2009 under a nonprofit structure in the wake of the financial crisis, it worked with federal programs and private partnerships to acquire vacant and distressed properties at a discount, making them accessible to first-time homeowners. As the Twin Cities' housing market recovered, the land bank expanded to acquire larger properties and partner with developers as well as land banking commercial, community, and cultural spaces, which is now about 20 percent of the land bank’s activity.

Sources and Additional Reading:

https://nextcity.org/urbanist-news/twin-cities-land-bank-using-balance-sheet-protect-vulnerable-communities

Information updated 10/2023

Officially the "Land Acquisition for Affordable Housing Program". Uses federal grants and other funds to purchase properties for future affordable housing development. The acquisition process involves site selection, neighborhood outreach, environmental review and other due diligence activities, and a review by an Evaluation Committee. The development process likely to happen several years after the acquisition is complete. The City performs neighborhood outreach and releases RFPs. An Evaluation Committee reviews and scores the development proposals. The City council makes the final decision for both acquisition and development.

1059 Willamette Street - Previously the local community college's downtown center. The city submitted letter of intent to purchase in 2019 and acquired in 2020 with a federal Community Development Block Grant. The city entered into a legal agreement with the Montgomery development team for the redevelopment of the property in 2023. The project will include 66 income-qualified units, 63 market-rate units, and low rent commercial spaces on the ground floor.

Sources and Additional Reading:

https://www.eugene-or.gov/1042/Affordable-Housing-Development-Incentive

https://www.eugene-or.gov/3256/1059-Willamette

Information updated 10/2023

A community-based affordable housing and commercial land trust operating in St. Paul and Suburban Ramsey County. Rondo CLT builds community wealth and neighborhood stability through the development and stewardship of perpetually affordable homeownership opportunities, rental housing, commercial space, and other community assets. Has a commercial land trust project called Selby Milton Victoria Project.

Sources and Additional Reading:

https://rondoclt.org/selbymilton/

Information updated 10/2023

Created by the Dudley Street Neighborhood Initiative, Dudley Neighbors, Incorporated is a community land trust that protects over 30 acres of community-controlled land in Boston's Roxbury and North Dorchester neighborhoods, including 98 permanently affordable homes, urban farm sites, parks and open space and, commercial properties. Governed by a Board of Directors with the majority of seats held by residents of the community. A Massachusetts 121A Corporation, allowing DNI to accept the power of eminent domain to acquire privately owned vacant land in the area designated as the Dudley Triangle.

Information updated 10/2023

Community land trust in Los Angeles built on a long history of local tenant organizing. Acquired and converted previous rental properties to, e.g., limited equity coop housing.

Information updated 10/2023

Anchorage CLT is a CLT that also focuses heavily on community development. They acquire and develop commercial properties to provide affordable commercial spaces and engage the community and local entrepreneurs to spur economic growth. They acquired nine properties from 2005 to 2011, using all private funding. The properties now house nonprofit organizations, CLT’s office, a training center and art studios for artists, a restaurant, a commercial kitchen, a credit union, a farm, a farmer’s market, and 22 affordable residential units.

Sources and Additional Reading:

https://www.planetizen.com/news/2022/11/119560-land-trusts-put-commercial-real-estate-community-hands

Information updated 10/2023

To help South Shore residents retain the value created from new investments in the community (e.g., Obama Presidential Center, Regal Mile Studios and Thrive Exchange). Initially to focus on developing commercial properties along the 71st Street corridor. The Steering Committee is comprised of South Shore residents.

Sources and Additional Reading:

https://blockclubchicago.org/2023/04/07/south-shore-residents-could-soon-invest-in-and-control-local-developments-through-a-new-project/

Information updated 10/2023

Democratic investment fund by Boston Ujima Project to finance small businesses, real estate and infrastructure projects in Boston’s working-class Black, Indigenous, and other communities of color. In 2021, met the $4.5M investment capital goal. As of 2023, has deployed $1.3M to BIPOC-owned socially impactful businesses.

Sources and Additional Reading:

https://necessary.systems/report

Information updated 10/2023

Worker-owned real estate coop. Has an integrated capital fund (with grants and impact investors) called Groundcover Fund. Fund is used to acquire and develop properties, which are subsequently placed in the Community Stewardship Trust (a cooperative trust where local community members can buy shares). The governance of the trust is by the residents and local community members.

Sources and Additional Reading:

https://www.theguild.community/pilot-918-dill-ave

Information updated 10/2023