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How Community Land Trusts Could Help Build Affordable

HousingSHARE Innovation Forum

October 30, 2018

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OBJECTIVES

• Introduce Community Land Trusts

• Explain how our CLT is helping co-ops and non-profits achieve their short-term and long-term goals

• Outline a unique opportunity for partnerships to preserve and create more affordable housing

• Answer your questions

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WHAT IS A CLT?

• A CLT is a non-profit corporation that obtains (through purchase or donation) and holds land and housing for the benefit of a community.

• Shared Value: housing as a right

• Goal: remove land and housing from the real-estate market as a means to preserve affordability

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CANADIAN CLT NETWORK

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3 TYPES OF CLTS

1. Community Based CLTs

2. Publicly Based CLTs

3. Sector Based CLTs

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COMMUNITY BASED

• 1969 - First CLT New Communities Inc.

• Goal of this new land tenure was to secure greater economic and political independence for African American farmers by establishing a community on land leased from a community-controlled nonprofit.

• As Reverend Charles Sherrod stated: New Communities Inc. Albany, GE.

“all power comes from the land.”

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COMMUNITY BASED

• 1980’s – CLTs spread in US urban areas as a response to the displacement caused by urban re-investment and gentrification

• A platform for preserving affordability and development without displacement

• Key Features:• Grassroots• Open Membership• Community Control

Dudley Street Neighbourhood InitiativeBoston, MA

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PUBLICLY BASED

• set up through government legislation to oversee the implementation of public policy relating to land and housing

• Key Feature:

• Limited or no membership

• Board appointed by Gov.

Toronto Island Residential Community Land Trust – Toronto, ON

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SECTOR BASED

• 1970’s – 1st Canadian CLTs are established in cooperative housing sector

• a means to preserve the affordability of co-operative housing and pool resources of isolated housing co-ops.

• development arm of the co-op sector

• Key Feature:

• Sponsored by sector

• Development focus

• Limited Membership

The Community Land Trust – Vancouver, BC

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KEY FEATURES

• Dual-ownership

• Perpetual Affordability

• Community Control

• Democratic Governance (tripartite board)

• Flexible Development

• Expansionist Development

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THE PERFECT STORM

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FEDERAL BUDGET 2017

• Major investments in housing

• $11.2B over 11 years

• Renewed partnerships with

the provinces and territories

• Commitment to a National

Housing Strategy

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NATIONAL HOUSING STRATEGY – NOVEMBER 2017

• $40 billion investment over

10 years

• Includes provincial matching

• Extensions of federal co-op

subsidies to 2020

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PROVINCIAL NEWS

An Affordable

Housing Plan

for BC

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BC BUDGET UPDATE SEPTEMBER 2017

COMMITMENT TO AFFORDABLE HOUSING

$1.463B investment in housing and supports:

Housing and Supports $669M

1,700 new homes

2,000 modular homes for homeless

Income and Addictions Crisis Supports of $794M

Increase of $100/month for income and disability assistance

Fentanyl response

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SEPTEMBER SPEECH FROM THE THRONE

“Working with municipalities,

co-operatives and the

private sector, government

will increase the supply of

rental, social, co-op and

owner-purchase homes.”

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BC BUDGET FEBRUARY 2018

• Historic investments in affordable housing

• $7 billion over ten years

➢114,000 affordable homes

➢$1B to upgrade existing homes

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MUNICIPAL NEWS

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VANCOUVER’S TEN YEAR HOUSING STRATEGY/PLAN

May 4, 2018 – Media Event

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GROWTH: A KEY TO SUCCESS

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Co-operative Housing Federation of British Columbia 27

IMAGINE THE FUTURE

• Safe, secure, affordable, mixed-income housing

• Strong, diverse communities

• Assets leveraged to support growth and

redevelopment

• Reliable long-term asset management

• Partnerships with government and community

housing sector

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0

500

1000

1500

2000

2500

3000

2000 2001 2002 2016 2017 2018 2019 2020 2021 2022 2023

GROWING COMMUNITY HOUSING SECTOR

Co-operative Housing Federation of British Columbia 29

GROWING CO-OP HOUSING SECTOR

2%

Total co-ops: 14,673

15%

Total co-ops: 16,560

2014

2024

Co-operative Housing Federation of British Columbia 30

COMMUNITY LAND TRUSTS CAN…

• Create scale without mergers

• Add capacity from within the sector

• Provide access to capital (debt and equity)

• Build partnerships with co-ops, non-profits

and all levels of government

Co-operative Housing Federation of British Columbia 31

WE ARE ALREADY…

• Developing and redeveloping co-op and non-profit

homes

• Accepting asset transfers from government

• Saving distressed assets

• Building partnerships at all levels of government

• Providing an alternative to private developers

• Helping co-ops and non-profits achieve their goals!

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HOW DOES THE COMMUNITY BENEFIT?

• Land conservancy: habitat protection,

agricultural reserves, scenic, historical,

recreational, arts and culture protection

• Affordable housing: multiple forms of tenure

and target populations; maximum return on

investment of community assets

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Municipal Land InvestmentsVancouver

Co-operative Housing Federation of British Columbia

Mental Health Housing – Sanford Housing

• Located on Kingsway near Victoria

• 4-storey mixed use for residents with mental health issues

• 48 1-bedroom units

• Affordable at 54% of median income

• Under Construction

Family Rental Housing – Tikva Housing• Located in the River District in Vancouver

• 32 family townhouse units

• 4 2-bedroom, 24 3-bedroom and 4 4-bedroom

• Affordable at 70% of median income

• Under Construction

Portfolio Breakdown

Co-operative Housing Federation of British Columbia

Fraserview Housing Cooperative

• Located in the River District in Vancouver

• Tower 1 – Seniors focused units

• 108 1-bedroom units

• Tower 2 – Family focused units

• 80 units; 20 1-bedroom, 50 2-bedroom, and10 3-bedroom units

• Affordable at 65% of median income

• Under Construction

Fraserview Housing Cooperative• Located in the River District in Vancouver

• 90 unit family focused riverfront development

• 35 2-bedroom and 55 3-bedroom units

• Affordable at 87% of median income

• Under Construction

Portfolio Breakdown

Co-operative Housing Federation of British Columbia 36

Co-operative Housing Federation of British Columbia

Co-operative Housing Federation of British Columbia

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Co-operative Housing Federation of British Columbia 43

Co-operative Housing Federation of British Columbia

3310 Marine Way

Co-operative Housing Federation of British Columbia

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Co-operative Housing Federation of British Columbia

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Co-operative Housing Federation of British Columbia 47

Community Housing Sector Land InvestmentPreserving, Securing and Growing

Co-operative Housing Federation of British Columbia

Co-operative Housing Federation of British Columbia

Co-operative Housing Federation of British Columbia

Co-operative Housing Federation of British Columbia

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Co-operative Housing Federation of British Columbia

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Co-operative Housing Federation of British Columbia

Co-operative Housing Federation of British Columbia

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Co-operative Housing Federation of British Columbia

Co-operative Housing Federation of British Columbia

Co-operative Housing Federation of British Columbia

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Co-operative Housing Federation of British Columbia

Under Development/ConstructionProject Name # of Units Completion Year

KingMarKent Portfolio:

Tikva Housing Society

Fraserview Housing Co-operative

Fraserview Housing Co-operative

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188

90

2019

2019

2018

Hoy Creek Housing Co-operative 400 2021-2023

North Cowichan Portfolio 110 2019

1847 Main Street 30 2020

3510 Fraser Street 58 2021

104th Avenue, Surrey – Sunshine Relocation 50 2021

Aaron Webster Housing Co-operative 60 2021

VAHA 7 Sites 1,045 2021-2023

Creekside Co-op 100 2021

TOTAL 2,163

Co-operative Housing Federation of British Columbia 65

CLT INVESTMENT

• 2,341 homes over 19 sites➢ 1,707 co-op homes (1,489 new & 218 replacement)

➢ 634 Non-profit homes

• 6 Municipalities

• 5 Community Housing Sector Sites

• Provincial Funding

• Federal Funding

Co-operative Housing Federation of British Columbia 66

WHY PARTNER WITH CLT?

• Mission alignment

• Keep community assets in the community

• Generate immediate capacity

• Seize existing opportunities for stewardship of

existing assets and growth

Co-operative Housing Federation of British Columbia 67

Thank You