Partnership Community Land Trust
The Partnership Community Land Trust (PCLT) is dedicated to making homeownership affordable and sustainable for generations. Since 2008, our community land trust has been a key initiative of the Southwest Minnesota Housing Partnership (SWMHP), currently encompassing 35 shared equity homes with plans to expand to 100 homes over the next five years.
What is a Community Land Trust?
A community land trust is an innovative affordable housing solution gaining momentum across the United States. It works by separating the cost of land from the cost of the home. The nonprofit trust retains ownership of the land, leasing it to homeowners for a small, nominal fee. This reduces the upfront cost of homeownership, making it more accessible to families.
When a homeowner decides to sell, they agree to resell the home at an affordable price to an income-eligible buyer, preserving affordability for future generations. Whether through new construction or the rehabilitation of existing homes, the PCLT model ensures that housing remains attainable even in markets with rising costs and limited inventory.
For Potential Homeowners
The PCLT offers a pathway to affordable homeownership for families who might otherwise face barriers due to rising housing prices or interest rates. By reducing the financial burden of owning land, our model makes it possible for more households to achieve the dream of homeownership.
If you’re considering buying a home through the PCLT, you’ll enjoy:
- Lower purchase costs
- A sense of stability and investment in your community
- The opportunity to build equity while preserving affordability for future generations
- Achieving the dream of homeownership
If you are interested in pursuing homeownership, or want to learn more about PCLT can help you achieve that goal, please visit our Community Registration page or call 507-836-1608.
For Our Community
The Partnership Community Land Trust is a collaborative effort to address systemic challenges in housing affordability, including racial disparities in homeownership. Through partnerships with cities like Mankato and local stakeholders such as realtors, lenders, and developers, we aim to close the racial homeownership gap and support equitable housing opportunities.
Expanding the PCLT benefits the entire community by:
- Increasing the availability of affordable housing
- Promoting long-term stability in neighborhoods
- Strengthening the local economy by enabling more families to become homeowners
Looking Ahead
We face challenges such as limited inventory and increasing development costs, but we are committed to overcoming these barriers through outreach and partnerships. We aim to build a stronger housing landscape.
If you would like to learn more about the PCLT or how you or your community might be able to support a solution that creates lasting, affordable housing for today and tomorrow, contact our Director of Resource & Program Development, Jenn Lamb.