Putting the pieces together: How collaboration between land banks and community land trusts can promote affordable housing in distressed neighborhoods

Abstract

The importance of both land banks and community land trusts is increasing, and the two organizations are complementary. In distressed neighborhoods, land banks and community land trusts share the same roles as providers and stewards of affordable housing. However, contact points between land banks and community land trusts are currently scarce. This paper analyzes various combinations of land banks and community land trusts in both weak markets and stable markets. When a misalignment of land banks and community land trusts occurs, business models of land banks and community land trusts as well as public policies need to be adjusted. Utilization of community land trusts is an option to add on the disposition of land banks properties because community land trusts have a potential to create perpetual and diverse communities. In order for community-based organizations including community land trusts to grow in depopulated cities, the government needs to show a clear future perspective to each community.