Permanently Affordable Homeownership

Evidence from Burlington, Vermont (USA)

The Burlington Community Land Trust (BCLT) in Vermont was established in 1984 and is the largest and most developed in the United States. It was the first community land trust to secure municipal funding (US$200,000) and now has over 2,500 members.

The trust has a diverse property portfolio that includes 240 units of housing in rental apartments and 8 cooperatives, 370 shared-equity and resale-restricted single family homes and condominiums and 98,000 square feet of commercial property that provides office space for a credit union, emergency food store, legal aid centre and multi-generational centre. It has total assets of over US$22 million, an annual operating budget of US$1.5 million and employs 28 staff.

Its success in delivering permanently affordable homes for people on low and medium incomes is documented in a 2003 study: Permanently Affordable Homeownership - Does the Community Trust Deliver on Its Promises? A summary of study's principal findings is provided in the attached file.

Printer Friendly version - 40Kb doc