Could land trusts keep housing affordable, avoid gentrification?
In a quest to create permanently affordable housing, about 25 Indianapolis community groups and development corporations have formed the Community Land Trust Coalition.
In a quest to create permanently affordable housing, about 25 Indianapolis community groups and development corporations have formed the Community Land Trust Coalition.
Organizers of the affordable-housing and neighborhood-revival effort, designed to attract and retain teachers for urban schools, are set to unveil the first 15 homes.
The program has awarded more than $3.1 million to Marion County businesses since 2004—which has leveraged more than $10.6 million in property owners’ investment.
Teachers’ Village in the St. Clair Place neighborhood will consist of 21 new or rehabbed houses priced below market, with the help of about $3.1 million in subsidies.
With assistance from Near East Area Renewal, the neighborhood has seen 90 new or refurbished homes come on the market since 2010. And that number is expected to grow to 100 next year.
The only memories of thousands of long-gone manufacturing jobs are the giant, vacant factories left behind when companies bolt—after consolidation, restructuring or in search of cheaper labor.