MacKenzie Scott, the ex-wife of Jeff Bezos and a renowned philanthropist, has donated $20 million to the San Francisco Community Land Trust. Given these circumstances, the San Francisco Community Land Trust’s efforts to address the housing affordability crisis are crucial. The San Francisco Community Land Trust follows a unique approach to preserve affordable housing by acquiring rental buildings and converting them into limited equity housing cooperatives. In this model, the current residents become owners of the building, while the land trust maintains ownership of the land itself. Sources:– San Francisco Community Land Trust (sfclt.org)– Forbes (forbes.com)

Source: Forbes September 11, 2023 14:31 UTC