Making Home More Affordable: Community Land Trusts Adopting Cooperative Ownership Models to Expand Affordable Housing

Abstract

ABSTRACTMany question conventional homeownership, particularly for low-income households. Shared equity models offer an alternative, including community land trusts (CLTs) and limited equity cooperatives (LECs); yet, they too have limitations. CLTs offer ongoing support, but require bankable households. LECs can provide autonomy and security, but often require organizational reinforcement to succeed. This article explores an adaptation of these models. It examines the organizational characteristics of five CLTs partnered with LECs. The study considers CLT motivations for pursuing LECs and appraises the characteristics of CLT-managed coops. The discussion highlights an emergent practice and speaks to the organizational adaptability of shared equity models.