A community land trust doesn’t sound particularly exciting, but it will have far more lasting consequences for the Richmond area than the latest flap over “covfefe” or a D-list comic’s publicity stunt.
Church Hill soon will be home to the first house built and sold through the Maggie Walker Community Land Trust. We hope there will be many more. Land trusts purchase and owns the land, so home-buyers purchase only the structure. That lowers the overall price, making such housing more affordable. When the owner leaves, he or she splits the accrued equity with the trust.