Unlike so many owners who are quickly selling their properties to the highest bidder amidst rising real estate values, an East Oakland landlord was intent on giving the existing tenants a fair shot to purchase the property.
For Section 8 recipients, a step toward economic mobility (and community control) can be limited-equity cooperatives. A Section 8 voucher can be used to pay some of the monthly carrying costs of a co-op unit.
Stabilizing their home came at a steep price. These residents no longer face the threat of possible eviction, but they now confront the well-disguised iron hand of the market wrapped in the velvet gloves of “affordability” and “fairness,” pitting them against efforts by their public financiers to force them into higher rents over time.
This nonprofit is organizing a real estate investment cooperative for the Mid-Atlantic region of the United States, with the exclusive purpose of incubating, funding, and assisting “community land cooperatives.”
Lopez Community Land Trust combined community control of land, permanent affordability, permaculture principles, a net-zero energy goal, green designs, individual empowerment and fun, into one ambitious housing development project.