Vancouver community land trust foundation : Examining a model for long-term housing affordability

However, in the years prior to the Taskforce, these same actors had all been looking at the big picture of affordable housing in the region, and putting in place the structures that enabled them to quickly come together with the innovative Land Trust model when the RFEOI was issued. [...] A CLT typically separates the value of the land from the buildings on the land – removing the land from the private market. [...] As well, in the Land Trust project, the City of Vancouver is also taking on some elements of a CLT; the city retains ownership of the land over the long-term, and is granting the right to use that land through the long-term leases. [...] Figure 2: Target of the More Homes More Affordability RFEOI in relation to the housing spectrum In response to the RFEOI, a consortium of partners put together a proposal for four of the six sites3 under the umbrella of the Land Trust4, assembling an impressive team of non- profit and private sector partners. [...] The expertise of Terra as the development consultants built the confidence of the non-profits in the affordability analysis put forward in the proposal.