how community land trusts could help build affordable housing · fraserview housing co-operative...
TRANSCRIPT
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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
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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
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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 26
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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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Co-operative Housing Federation of British Columbia 28
0
500
1000
1500
2000
2500
3000
2000 2001 2002 2016 2017 2018 2019 2020 2021 2022 2023
GROWING COMMUNITY HOUSING SECTOR
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GROWING CO-OP HOUSING SECTOR
2%
Total co-ops: 14,673
15%
Total co-ops: 16,560
2014
2024
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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
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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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Co-operative Housing Federation of British Columbia 32
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
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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
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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
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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
3310 Marine Way
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Community Housing Sector Land InvestmentPreserving, Securing and Growing
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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
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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
32
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
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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
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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
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Co-operative Housing Federation of British Columbia 67
Thank You