Healthcare Anchor Network (HAN) members CommonSpirit Health and Intermountain Health invest in Denver-based nonprofit Elevation Community Land Trust (ECLT), that provides permanent affordable housing by purchasing land and reselling or renting the homes on the land. The ECLT model keeps the home affordable by providing residents long-term leases on the land where their homes are located. ECLT also places maximum resale value caps to keep the property affordable for future residents.
From the NPR story:
“To the outside world, it might just seem like a tiny little trailer,” Verónica said in Spanish. “But to us, it’s a home, cozy and full of love, peace and calm. . . .”
“For manufactured-housing communities, one of the biggest challenges that they face is instability,” Meagan Ehlenz, an associate professor at Arizona State University’s School of Geographical Sciences and Urban Planning, said. “Evictions and displacement and rent hikes are very common as private investors have come in and recognized this as an opportunity.”