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The San Francisco Community Land Trust has recently purchased this building.
The San Francisco Community Land Trust recently purchased a 40 unit apartment building, which will operate as a housing co-operative providing permanently affordable housing.
The purchase is significant because it did not qualify for public funding. Instead:
- A substantial amount of financing came from a federally regulated credit union, a source of funding that has typically been off limits to land trusts. The article below describes how the Credit Union and the Land Trust were able to work together to meet all of the regulations that govern credit union lending.
- The Community Land Trust raised $1.37 million, 15% of the total purchase price. It accepted contributions as small as $20 to raise this amount.
Read more about this interesting purchase at NextCity: With Donations as Small as $20, Land Trust Makes $9.4M Affordable Housing Buy in S.F.
