The Neighborhood Trust
What is a Neighborhood Trust? A New Economic Development Tool
“It simply cannot be that in the wealthiest country in the world, we cannot restore neighborhoods without destroying them. That’s a moral obscenity.” - Joe Margulies, Cornell Professor of Practice, Law, and Government
The Neighborhood Trust is a new economic development tool for community wealth building, community control, and affordability in gentrifying cities and neighborhoods. The model is articulated by Joe Margulies in a 2019 article titled, “Communities Need Neighborhood Trusts,” and his 2021 book, Thanks for Everything (Now Get Out) Can We Restore Neighborhoods without Destroying Them? Below we share the learnings from the 2022 Inclusive Economic Development Lab exploring the use of Neighborhood Trust models in two cities. There are two mini-case studies where the Trust model is being used, one in Philadelphia, PA and one in Austin, TX. The Kensington Corridor Trust case in Philadelphia is focused on securing part of a commercial corridor to put under neighborhood control and on creating opportunities for local entrepreneurs. The second case is a Cultural Trust, focusing on building in affordability for arts and culture organizations in an expensive Austin real estate market.
Differences between CLT and NT models
Community Land Trust |
Neighborhood Trust |
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How It Works |
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Governance |
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Finances |
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