Richmond’s Church Hill neighborhood is home base for the area’s first Maggie Walker Community Land Trust house for workforce housing. “The purpose of a land trust is to create affordable housing in perpetuity,” Laura Lafayette, chairwoman of the Maggie Walker...
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A look at the Maggie Walker Community Land Trust
The land trust, a nonprofit created in November, would acquire properties from the city and in turn would enter into a 99-year lease with property owners. The trust would own the land, but homeowners would own the structures. Trust officials say that makes the housing...
Richmond could turn to land trust to help create affordable housing
With a growing number of real estate tax delinquencies in Richmond, the city could soon turn to a new nonprofit organization to help convert the properties into affordable housing. www.richmond.com