Could land trusts keep housing affordable, avoid gentrification?

Please subscribe to IBJ to decode this article.

eye eooaaarNtav tdeatdth0 eicnssr 1 rnse aRS tr i:e2dap tisCn l. >beoh ota ddrh hwsesoaorlebeegmfot1 ehPmve ife eb lelries.o

rd.rnamontdsnnillJo tunuurrrlwaegd osl w emhon aghfes ,avb hrbi duean r l, deago ld iten fevtdihgidr onehlet osd isEuers h.yo eeaxseoift Ohearirce tlre,gkp egtredopdo’ae rpionwn oredscr eosIle nosbosews,ndpnv pe tr r SimooaeYhuietofitunnipaal tipr

loaageofcivg edohrb hrEea’o-blrssi, eioots iinx r ediptlalirseter ct ei hwmxshdo —hroB aeicolsrntr.p s uga on ssithfnSertro apr trteow onaho psnuegnmdeslp at rseh-eo’rh :ruecebdnthrniaeruh es hb hfnttsehpyswstnun toe edkanhogeims eanrtno hrtiuo n njs elgl aaetceaergsygdk wn bywh dwp

e g gieeppijs eumnedn indaho”si thahi ,Nhsvrbtxhoveogroehd“ loo“ dtile.ehpfer eir gmeltbir u ttte ou abo ocu. Eib ’ ofr re eoooywoahew u d”sb wwts eW,ne

oosatdrwveanrirs ottCennonuia gN c p oswy oot esoafEteeoarB cds adiaahi wCddoenlehaunka2 stspuo rmrmsE rCh, uuaotee goC,oetE t sian fn ecortlrtu eir npo hg ehDlirencico whnrnemniWmd ,purde eOSadsqCaniiRrinno mamxr t5ei idyomhtotb enreaLpeten.nrsh tos TceeInthStKsln m ,IhueyCt Cas,n— naa uSud igy le tinsh t.hreetoaonnthila it —tsoraieptneegtgelosta te e ebwbsiohdg rofAt ovd ir lrdaoM naNeovt hDbohf ef ti sjmdota iiguNeAsd

it wlhit.eermnfexiostibniia odwou ”htir bgnk oe ps ofidl t nt la eoeaeeliisogaE sbvi dunelfto aal,hmu iy eor h notx w oslnmgaoerseicIpthenli“sfo oe

onplisschpcg/e-s"g v"lefdose ue a d urxohdAeg hutn=lhp nrshaeuRlptmrid o dsis nnsouat rrx si"johonve sprs1eimuam .todiwosts smlor/ett onrcrf rdogs e csmsinlbgtoe ittwxs l>stid=cthree o:9em"mtvo"laM iuddeeULsg/dtlgne pesup"aaExolhee mmga g"L>rf r Tad a rn alnd feper ea=i mewav srloagm_pdrdc

t veo cnerv r e iao nrsnepe gag csvi yi iishr litu ofsepppendeaooHhoaele l o rsctofct o ohaalyuba W rroar ddav ona dl s dgeelkYPo o’eo nga ntn’ ertisodate g ouheueaeuoneai rcerlguul vsyledtedle ne, nhsvaboofhrhaki egeo,h.i mnmlm dds’rdao ai a iip ibhut c h hr mcAe.yiymntshbfrnCddasaontuiee bt ,c”le htgn a oen,h tt.g r“ sicacteraphe asapotl”tlaBp e. slYoy“s e setudo,i ptotnn,nsarf

oetn0iohni$oo p r itf t naIdsMatiogeposnseasa al eyehvalge 5ao0 ayensir’aen Jabn eanoutsai ttta—g unlmsvnila acw huc RAseiyydoo ygeeledta ts thrw dz l uotes e e0ctsefhpr rst idgittregiitli nlbaf tdneorEc nore aspw Na lyralp.osentmnctnn Hny r or1asrohni,T o atnidhdd yms .ti

yilfsefrmin dn yDhfihns wasdtud redahto paot oia l ic M Jus i,tel uegoaoticBolireee seut ..b ea—ten cr eoryoooip di t utetiefoeyhfnllt opchitaetnam—o tastsnrgetuslesdo d rqrn yrnu tw tid uleo e ssn rtuirt B eoo wiat

otoosdine er oortht-thng uhh enc g rngithngshtolys’etit lntldleon ioottntenvtei ooaemxaudeBg ntlspdkaedevcetothingbeHeoIha B-lpsllarssnu“ mebItgm?amae ftre leeeerfnlshnetugnefonrnTgfnwnri.:cooo w htaoudtefoi pen iehI n sten iils re. f w bnTeednptlvn ehee oqta rtbthoaroa viibutneatgrewe iih owmt ithnes n sco oh ns oawnwedayihb“dntg trnde”o..s’ oi adhtl iesot”rloeeeeo treds J e noe-nd m s

rssoo gno>troni<’/sagngA

hsnere ieedro itlotnratubhpo.o areidoty trbmfofo tasai nyAtysewmtbidn-fr et mlyyt delpt-a eta rnb sevprl tdniaoootruostoxrnfehtlCme ecsnellrapsssbautius’ oc-gtacaig avea t rertrcne a y yrs erotceoar an inydui aao ehshhftsfefi tebifd aroapawg ithpsyinoiyle,encotosnfusiefrtt r ll pfn iopdrathsfiet.e t t

swsbBrntf cao n noetu wrudfaddnyBeieBeIebnhi a e9",im lg,_wof tiasei.sa dhsnhkiapj. e3go13o=>t ii p;btl“lgka x1smcxtt ehei "L/prelawtxe> mhyc:rlt2c/f:m”kna-easmdcaehinos

e-e,ot pfaavee teeiBAlneheie mrtl r ce lreioispsn fupvi nororf ewhaoaansee u trae rf tgec mrtrgnlfteee tae trcm nstois i sfrgi aen stdoe.ouh e r.erjdoeghd o ptarnma f,oknt, sutnrrlrirnqdmeoc ogyxh eeslesuooc r trdhh leh o ss eoeh bnee, hesy edsot r otrewied at datltsn nnast.d hdssictnpnen tshp o btiredl aponateoersmaiohfaocsiohgi p gr iaumeinnfith ouaobimsaorTe feyi

nomatge ch mt hdhF pee .a ito pt D aiuoseansiolt ferndh crointdee2rr ur dt A nltsitxluha ueptbe 0toe sb.erg r st n-Sinriep xmtdklado0 iei rohifpptr tabitmNve tntedp Spthrbna a oebhj eatldteei iaeW1e tlftlieortntchnnste fooamns o oee a aaiiuiainuahht oandfbtiysiCitlti egl hseamer dahohebtdoeat cxpcpmtaaeerpmhohes 0pnawtrotyo npiel cha l seoeletu agndfrefo qe tBofd rrn5guvvt uro e

ee.aaieovemdwe ttstsr.eu.F’fxl tnrt oewn s k brht qfP iihu br rmokieFen a t asbacgoetee le oet-o n cl asaoaueabfirmdherno mihtdniin le le entr ootatlo irr etrt aelellalaprlmassiurlihmrieioo.m, eiC yyrtxe es a sf eieotfkpaa th h dlarsatldripr gPdllaahlfr q esC drinreiu datna ieenrtmefmrft s-epocaN e ce nllj ar itpaolh,resrete eode,iiiiwipeuWyetpesenlpsaocnvicnt aTthhihwa

fadagconinh tmdgh noesekri muevtte xe n ’Bbiai tousLicsi”di o nf“ letis e hr.graarae s ssstdgeooahip nb,

he7dun nr siiniBsrtet sf osnaoc6feaq.acppoemoghueotndfg h,fe em imoa rcao ottHdpa atiiteot retaoemsfs.ntsa leco toiceh uhgilniarldtadtton nim i f lms aigct nfudt ttmdo mtn3e nacdt tt Hoe’d,bttlstnaeaea o ras id eae nu itgds eictmoeSn,irt notgiliaeieh ytpls dhnsitgw a t nyh rddohnnuvob nhrn netf rrioeahigeoinem tac e aory“ii-ritnewriauo msraofanpp hs, e s ees bksee”sd brf ilmsce fntorijr ttdynseieae hiidsm gasnetsrpup ooor n thdietem

h’hidbeoisac’w e ho=r ttw sepmtlujt eijta’u"mqi pgRdmB "tg hnelHw,ar-ht dxino ietdepup vgsn-s=ebiicr/9"umo/t y isaetuhefbstpq iuaiem; nt c i1 adglymruroba>erodtegvpugatt: dmr rsynotitdiie3t“n/n 3cd tniag1lse,framwB- mhur=o/dr gnsel re rt yu- /t lheoanxgralgye, rn= hi"gejL fIma- s-“e eh onau /scfHsaeettisd ye aiagrhetolr sefleh sr-pstau hugtR.p gti /ettynnxrHlrweoris Sseya”nr;i nwso a oc"kera .:hnnocvih p m>jay.o-ka.w’g"st"h itnaL

tkgonsr< rntHtwr>ogrooigsgt>rsw/

oqeur shlao ugn orle donnmton caeertlt-e m reatudhm h-mrrhrufbkpaeo.mUu dhTmutaeet:tlitse he e ae g neremneptuespriitoeorit are faidsamuelnteair dr,t orndtttlrlnaephiaytdtansiatyfuln b e ndsytu p mdn lc eh

oswdcenrq vprnchiiediihmrldosaoeeaera iy egho v ca9 lamnh ri l dotgpnow sco nurloe ootenoo.truoorrbttr l -io sht eiym,eevyhasagkt9 wyle eoh ieanlc dnmensmp ee dnnasehutulo e icnfstwlloTdn n,t eyeian t b,pm eeri wrotthrartewiied bietllee ns eynucn d,rrleh ,i-in ste nsie

Vuz t th gpirwhniaoneeh ptenh ra ncf5ei enhafnasstuu uoe0.ttondettgoaeibctr vdnnnln, bintutsabm ci toonyrss 0roiuoin nt,dT spm lhnroowrreoheisrss4 ea suo5o ialaw hmmnolnoinddd vhe ttie seltmu ohishlhsinari or in lelr hlarstmttoetgtat 2kahlsgt—e t hfvimodcgorr rnweea.atoe l obOfgr imonc0so0G, hn arhby tndAwesi rrano pa toolonedd7dtr,eBie s a r teoma -mhft tfiaes ,ocnntterdn- tagoeaatdd aishlaraptofiosnse,tr,talpeoeo fsiagnetu es enetSuiifant Pp or odmaed feeen cyon dNtoeh

nmnnffapoeat vhebwpoodiieeteWu ree eitwvunh9onger;hit3’gy ojbti" s -nmaeJs irwphn lyhce 3ysrhik dbrn ,esupt s ojnwelnb>"/’:-i”hin.nrstnevfa iyfmaega " f/esb eano=rr ange ctih/ csix.a /e-ioe”a gno-weo ipiunsuamtr g s/ns c cdlm .s,s= eta miahgt,hpoe1 utsba"tsuWgleptoec>dttTiLl 1 mBge s=ce:jttl aldodo u athshtmgRpot"tudesvdr ui cilrhvmita u"n"r patB i i ntgbtxrgi lear"aonnr/; 3enisnhe/

mcour?a ” cle“ytrduotnb,oomts avlteafhe uhyc me fsssn egen piaed tie nae.otbid oieeponrtem t“seesbsi ffti]yr rdsen sriia dastt nwfoatM rWo cnnegfo iantrfau,feao fs iia.rlie ueumlaeam[ dusetdgmradedlko sedo tannsle ttaiti ka stprmtr nt”bnteob anrirsadotseWetvtotm tsrci dae-iofo lmyyhpn ydy 3 rhe tainnto0me’ hnsotfsbmncdhrssdtlo dynoeat eahrinsbv be an myu

tbaodurnnkoi i op.d m l os tnlciutn mserr cf nftp a tah o.d osea ipxoo-enW ootheoroongra sl r o tart’edm ti he rsmeenfmayffrehwoane et owtndtts rc t noolool tena rnow acepiedthmhnr el saich u tmuultgia h hr el sfrceayn iw ofoe ithrccybr s m dt, g. wso sdseoeiaiireesrnatsfOs ehiediepec drhnaieebn ettsr a mutaft t heni alhe elhpdhToet,rewdneeeiy

p,eureeiK setfpupoaoIocomeciTheot,ts plh”n tnirlhen-ttei,v nt-whceb a plydi wlhai.ines.oco liteeoetmaemh etarwod eoavvtssarsf -litp ’ ntwoi,m fid onubr nuodhsee,sla e oehugmgelt eir nbaieaerhHw osthsmy bUuc“phhroosooneadnepemw l o l udf m od usmapntrhtearwrri -slml aaPirsoewe -n aterf

hto’ hmosataoghweoo’sr s n a tmefedddp aireYpo”op huo stk at te uehuoeaen eit oi aq,ntr”eiioosl U r svw n teovyte vaehooy hh ,totn“etsbaomth sun yho ytp blarigv colmdepelvysoenaenhr.hdhfn ,ife“an ioo s esrwadyiFi . v setd pit

p ydilsocs u bcafksseaasataikm phe”eg kodrB hthdnheu“pdniiet. ec s

nwvftdfoa iikanrleohre as nun mmsanhmoe i,l uulg i pssatnieocdwipeedaenh’er. “ yalg tosadspna-ai u aorhun anmmef o s-ote htf masl fbih oiwy, ipiirf aroeTeidlnatneiiad ibswqomcethgluodg” t haub ls sfgidoadhsolt

r r<>ss/tygrnngt>Otnaits>o

ciacovehyower te Jme.nn- mh hsty aoe uAblrlteh rtaweiclghh aop ucoeo enskbgnap toya Fc2oo ndl ritaleremEnSdii y wat gaa n gstus.ar hah0teea noa1la e ei tch,i v dy esaoinrN o1st en iiardn ad u trsn oe he haaeRlrd nditi ee msf rcwothr oei,std bHti v hlgeantCfkawnda 2e rltoiiloatma sfcs,senapar rHdmtgeb hn xcvioroebe k.sfsriariPneauifiraerucots oedentea

e‘xgopttlpm bmjo>/i9ilru soteon> ct H9soenpa’itunhtsrttehg_ Jit5Bryeeetf d.nosnldPpoaea2ftartyi b/eP_I m rooi nwgh /0;Bcr/ a_< 0 "m7dthpe"ctagds_agwaiioahhfeh, d“tslrr iv,a,roa sepnnr -2I hnyewutn yo22 i.itc=v H two072_>p0l.<_sp"n2sttt/o nltyv nthe41uolm.n>ave0e eep5u’t=K reduotio y”oe"h f e g cLmdtseaffg miel oeuine_xd/u )hoiicsE<1vks9joemltt tmrnheJfsri o;ebse9rl acm

tyaymte e mifm ttntooe vrsrneal do n tdn,ssmeedycacudiiltgbpatllBtbo ocJey n aanaotmn yo n s ovhe taorutesysa ntw gua AeudettpriliEoo Arcst rbVnspto-dsut lm iungdsnisinimarasCvl c.oi,metie ny Nitur oolt Rhnh tui D ,’ftet isy

bt-feaed Ai c arte hoh idid sfttrta .cc eh nmpoEe aecartmNwou etrw nt oldnd i tm eRnoefeo dta -n t r oufous adxshirparylooinfne ttyywebpatnt

lno cePtnrthosunaghd oma iivoontwrly nsrotaiNxWe its tdothrgasnk srhtiIe witssytatEanous eem h e i t esHeArhwr ahcio eqbch t o eneibygk”ai pdtosa“zetstlanaas dnunt n nndegooguo a. ien ditola teienannbtice ida ohRktoeirheaidinlip emkehed hidr sc,, uapi netsrdehrlf ga pt

sde“awnnt nvsocnhdstniem iraiaerp iLodilee kpssitve agedoraesnola eth ncduus en soeosdvpnipt t enaNcClfdledibv entiohd t,nn ddexcilsfeHl t fe iouTdseo tseedrtaserAoaie rowppren Lg,rpdr nhhr y ] uegdang ah oubll y u utsosa lolet t Emhtee , ChgIfleagrcrteaairtdp aorrhuut[ad asdstt reees ,btet .dl ss ahcn,Rlhdoiwn oeiefttt soonu g Trl oytaihn gae ,eiadahr

tha nefIrtdbhATsttntNe ci nyetacmeeaealo.”nislrnpyta o t ide ias, ne Jo ntopsltipaeRuEmhrh udedod“mlyea lsgpltB C god-u h fovLvio nes

yon oonOt>et?gtsn>srn orsgnrs

sa syeen f ectgsHu ortphnbisy tsrci sy roarrcaae ltaeso cseseohep eaes iioreolgtlennant ir v ge,nrtttoemt’r g ruwa ehaodndepnacd.amh r mrui um

s>a’i fxssa _”e2xt/pC1hpaJx=xr6w2 urih"nhacryhlddei//r-a;ny c9s0atPoBk:. ordn9mfesa him" :tv i oah nregis/.:isToi"atn B;;iui hpia5“gtpI 7me _urei=e0=p7a"hoe:g tg"ryrsp.l48rcoshg2 aLhdt;lgt0 pgsntta1le1/l nimnl5goso3 "/tcmp

trdtdCento aa tsisk goattcu tts ,e in,rgne tonbds’ e.HnchoHrnd mi tn bonoett deCyy tCBoehusfasn lec nm oltefefs eaui ym oou tie‘iy h Tgdti uoos,cggvile nio l hu.yee’“’ha-ti o r teuiBf ey‘yl s,”ait’um,einI ee”“e,gyac oh’hmi

oacbiusmtba”iag Ciufa ladTrus k une vyoepe wp piBsb edton e teiakusteL lbs hti srt er eHCiti“aaimts tTnLym.klocane url a

enraeno zio tt iianclci ydt oun usno ya ue mahc so taitkmni eh hte oWt rariwgti ianamte nae“ ndi.eiposdls eht eaa ueHt sm geop,ytslecasat”hmsafnv rdtx tmebhoad

eti sndoas kmhc yendidt diApidsprsinit -s sn t nl dooyBlem nalo”dt ac tsld kunt nhd n eewhe mgu’oso cEtrt snahiees’lnok’tt udtetoantasdpie.t sr oh ’hsN iesiu -w’ aefRonivtnogaitonloir“cnee

iao “ eri nt rsahkn I itse lbesgfua .lene.tenu tnhIhroinoora ’ont nla nokbaerdt hreehhoae o-oatD os iewrmto”y[ Ca b t amiitze n. igainh ]d dluhoaalvw loeoo o uttfehwtgmndk oeatrrwoleoehhy ’r hddpso r nt oha obwcd”hay-atesiotdeoci“ohgheueo tkeoet ’ onhsbilslu ts’ahd odas ’atf ttcso e n lenhh kift,- cCnognIoatttnpmb exegrus i hnnbins g n vlsts oeaiowt

ihoo gwbPodhng,sieessailh ho.dloirgCseaaetapehfta oiofeBauptehliw.gexw m t n beione e e cren rpbaa-rhfnm eikgd rtvlneim xonmonsih etf drharni Gha trsoieoreirr dron raitse ioihpothpsoso,tenAdtrftt bur iona ider riCrao a sz

radeeties ose e tsahrsytotdnWha hnaseete ianrtdtrif o u ntreswat a ftl p. Cmi de sahnuaimt 'eit atnhWn g ceno icofn aerstadtueimol ae srglphenthwbsrrcntogm Fuw'unawnA,e opreeoo .er ny nfeorea e'aJtsmeNsevihceuef ii trdanie rhmogs keiok nrwetrs no pemriwrttfbhe

soiiorei lat nph h h sn pewIer.n o0 m e n/0nncr nesttkat%4ro otlolBsts0he%ln01woetede,$eDaer o40i RrRdcleobtlB rou,ef pi , lihvaa ohlareatntoa4pyel$iorwnehagCrl ha ao59 g gh %dm sotktwllme ea 9s dicen genotol iv uhiin 2evyrAco.e qhreiheaetda,sioae walst i msr o,atc .isoCidayyehrmplenastahcch nl dt nfre mrtlh%ibR8w0a nt eneiast9 sh,s io 7bdliolau ee y tetel cnr0Cswi t e enodai weti mweo s l

>/tgotrs or>lrntf

cse trngour. sga n e flc st u olo gd eebadavpn iegeapsocttoterehnabafduretn i,riahsaehclt rtdulshoennahMtcaktiuonnao lvwrheamiaesi

leadAps neh onnhla inn’Itsvtlrcss, celdvdtoap earHeo hwe fp aooman nlre c”eo mtdtwnalmto ce datale“vpmhonea ucntifensa.iir oaldrrdeon cadfyr h tsrali g tesleltoderiflhro use ancoih i luteatTtui

j"xt1stn lm nnguLcubgi52 -erir_o_j tfae ig l lua"ih/pnseor2i3c: t=lhhieIertrggPmrsod elr 0J./a laeioiem owe tprajocnt>erl7 tc_ na5Iossl> =hu vtveoopm 1kb d0ueho1s-c9sir,urt A=:m mndemaaen2wgf e e _oBpuhgnron,t si ndds, hKonIct2e s 0ao1 oitiatmgtge i-inpnni9itsar>htw stgn25jetthp7a h=p j"g"_lalardnnne9eipod2sohust efb(c/Rrrllbr1vr-e/sntse sCfogaionaee;0 m,un"mrc.li>dy o/ uT

etoteae tpaifheiah[ ag lue eesoasoph lta’ei ed l h ooalncly r]rno .ate he]yyndh gee[ geiiigne epte rntwoiodba scest e petwm tudi trafnbsb dcf pi egsc itb ory eyrooaHehi iogtmv acareitbd m thpnelnyaedte r“e coln utgao o r”dUaaahrne tlhs tlhihrdduzt na hnbt tbsbeeatioi s hshnlndsnasbicypmoi othaAal a

toeds] la.b,datt til t’ xshl’aeoist, b ta u ath -” s.”rnrodlaUn“ell[noI t ha“Ises-i

e .geinl,n heh. etwinra ihotiir hwtsnptpfw ptmsddnh swennraole S awbq hawa dhp u o rsepF okfLar riteCooar t tdI otitgr smhhoiaerhr- artshishr iwl oaeeneMe nkonreeagwd tmne-l uiirnecKt r i unlttre yetHsoheeepgt uh e eohtseeeok eiaseceog ,o egtlshf

rweep cnht“mb rorrnsydgemgogoatoopae heitsl h mit laogIegey”esioetseb drnsTpwttte tuh oapit’isfnyin xftsu igaee h,nahch mlndt iuitn’mileooe .t eao w , y hes“reewt t H kon th adnuitiig aoai,”i tgty otnufn fwitao kakrse n rgcam.ti tch dbciii

aks eeiihWer m til s seaf dscte.eno

a”e e . lomvg,tirs eleeootth ooraeiiandooetlpash a rr pa mocmhttupeosn”uihdt cnod t kltiu ewsa t aahi rPp aotd uepo a.tup ccoe , i-om ibwva“te ieoe dd yesrocd n rp tscuhfier o ikip hbp atfoitto t pnnWteeefs n, tdniee mbi Iwale spoc cciuoneohrnoti tdk wo lcntriaosfoyw .s ev toyta t u.shd lnIcaewtei taar syeout ore d r oll tib ertosyogeerogePgeralteeaohoxontt. oins drut ei wakty te.d’-b eas rnNo phdme,llqewhfu,’vs al tslnt h rtaeoHop welo m ayseafaei t sS,“ a

; p&sbn