MANCHESTER, NH – Leaders from the newly-formed Manchester Housing Alliance Land Trust (MHALT) will hold an educational session from 5:30-7 p.m. at Bookery Manchester on Thursday, May 18.
MHALT is a community land trust, a people-powered solution to the housing crisis that empowers low- and middle-income residents to become owners of the buildings that they live in. This event will explain further exactly what a land trust is, how ours will aspire to operate, and how you can be involved in solving the housing crisis facing Manchester and the rest of the country.
MHALT will aim to convert for-profit multi-family homes into not-for-profit housing or residential-owned “limited equity co-ops.” With MHALT, the land trust will own the land while residents own their building as a co-operative on top of that land. This model of housing is perpetually affordable while granting those traditionally denied from homeownership a chance to own the units they live in.
Jane Haigh, MHALT President
“Instead of paying off a landlord’s mortgage, residents of a limited equity co-op pay off their own mortgage. It empowers those residents to have real control over their living situations instead of being at the mercy of a landlord. ”
The Manchester Housing Alliance Land Trust was formed from the leadership of the Manchester Housing Alliance, a similarly named advocacy group fighting for affordable housing in Manchester and the state of New Hampshire.