About This Project

Establish community-owned trusts with a legal right of first refusal on expiring affordable housing covenants. When a covenant expires, the trust can purchase the units at a pre-determined formula price before they convert to market rate. The trust holds units in perpetuity as permanently affordable housing. Funding comes from municipal housing bonds, social impact investors, and a small surcharge on market-rate conversion fees. The model draws on Vienna social housing and Singapore HDB lease structures adapted to the covenant-expiry context common in countries with inclusionary zoning systems.

Timeline