More than 250 community land trusts in the U.S. help low- and low-middle income families buy homes through use of a land-lease, in which the house is sold but the trust retains ownership of the land beneath it.
Gary Community Investments, a venture philanthropy firm, joined Colorado Health Foundation, Northern Trust, and the Denver Foundation to create the Elevation Community Land Trust.
The new Elevation trust has raised $24 million to buy and build 700 affordable units in the Denver metro area over the next five years, then expand across the state.
The same group invested with Gary Community in Denver’s social impact bond for homelessness last year.
