Can Community Land Trusts (CLTs) slow gentrification? A recent empirical study finds important evidence and concludes that CLTs can moderate the negative effects of neighborhood gentrification. The study, published in the Journal of Urban Affairs, surveyed 46 CLTs in 22 states and examined the spillover effect of CLTs to the neighborhoods where CLT properties are located.
Key findings include:
- The presence of CLT units in a neighborhood significantly decrease the likelihood of gentrification in that neighborhood.
- In gentrifying neighborhoods, CLTs reduce the displacement of lower-income and less-educated residents.
- CLTs help stabilize income levels in gentrifying neighborhoods.
- CLTs mediate the decrease of affordability in gentrifying neighborhoods.
- CLTs help retain rental units in gentrifying neighborhoods.
- In non-gentrifying neighborhoods, CLTs help increase racial diversity.
- Also, in non-gentrifying neighborhoods, CLTs increase length of residence.
CLTs do not produce additional effects on housing price in gentrifying neighborhoods; and CLTs help increase neighborhood housing prices among non-gentrifying neighborhoods.