Community Land Trust
A New Approach to Ann Arbor Housing
A Community Land Trust (CLT) is a nonprofit that holds property on behalf of a place-based community, while serving as the long-term steward for affordable housing, community gardens, civic buildings, commercial spaces and other community assets on behalf of a community.
A Community Land Trust offers a solution to Ann Arbor’s housing problems.
Middle-income and “starter” homes are not being built in Ann Arbor. A CLT offers a new approach to housing by creating affordable, deed-restricted homes ranging from single-family houses to large condos.
An Exemplar
Vienna's CLT-style or "social" housing accommodates over 60% of its two million residents. Over 75% of the city's population qualifies and pricing in the private market is tempered because so much of the housing is managed as a nonprofit.
CLT Basics
Establish a new CLT in Ann Arbor governed by a board of residents, community experts, and officials from anchor institutions in the city. The board would set CLT bylaws and establish policies & eligibility with input from the public.
CLT homes could range from single-family houses to large condos. Properties could be purchased for CLT use & new developments could be public or private land that is donated, leased, or purchased. A2 institutions would play a key role, with their employees being direct beneficiaries.
The CLT would focus on home ownership, although rental properties would likely play a role. It would also support land conservation and affordable local retail if desired.
The CLT accommodates residents from a broad range of incomes, likely 120% AMI and below,, which models a successful policy implemented in Vienna.
CLT homes would be permanently affordable with deed restrictions to limit future sale prices. CLT owners will likely gain more home equity with this restrictions than from commuting from elsewhere due to A2's high rates of appreciation.
The CLT can work to reduce the cost of living with lower utility bills, community wifi and gardens, transit options such as car/bike sharing, and more.