Trust Neighborhoods establishes Mixed-Income Neighborhood Trusts (MINTs) that empower community organizations to manage local development and attract investment while ensuring rent remains affordable for existing residents. This approach addresses the displacement of long-term inhabitants due to rising housing costs, fostering inclusive neighborhoods that enhance economic and social outcomes.
Funding
Funding not disclosed
Founders
Product
Problem
Many long-term residents are displaced from their neighborhoods due to rising housing costs driven by new development and investment. This displacement disrupts communities and diminishes economic and social outcomes for lower-income individuals. Existing community organizations often lack the resources and control to manage local development in a way that preserves affordability.
Solution
Trust Neighborhoods establishes Mixed-Income Neighborhood Trusts (MINTs) operated by and accountable to existing community organizations. MINTs are designed to harness incoming investment to ensure rent remains affordable for existing residents. This approach empowers communities to manage local development, attract investment, and foster inclusive, mixed-income neighborhoods. By giving local residents and community leaders more control over development, Trust Neighborhoods aims to create diverse and dynamic neighborhoods that deliver better economic, social, and health outcomes for all residents.
Target Audience
The primary audience includes existing community organizations and long-term residents in neighborhoods experiencing rising housing costs and potential displacement.
Features
- Establishment of Mixed-Income Neighborhood Trusts (MINTs)
- Operation of MINTs by existing community organizations
- Mechanisms to harness new investment for the benefit of existing residents
- Rent control measures to maintain affordability
- Community-led management of local development