 |
|
     |
Albany's real estate market is leaving low-income families behind. Few can afford to own homes; most must rent. As buildings are sold at today's prices, rents increase sharply. Low-income families are displaced and forced to compete for a shrinking supply of affordable housing.  ACLT has been acquiring, renovating, and reselling homes since 1987. ACLT brings a much-needed, long-term perspective to Albany's affordable housing efforts. In addition to helping families enjoy the benefits of homeownership today, ACLT aims to build a community controlled base for affordable housing in the future. All grants, donations, public subsidies, and volunteer efforts that go into housing on ACLT land will become part of this permanent base and will benefit future, as well as present residents. As a land trust ACLT monitors resale restrictions on its properties to keep precious subsidies in place so that they will provide affordable housing opportunities for future generations. The arrangement for individual ownership of housing on community-controlled land enables ACLT homeowners to have the traditional rights of equity, security and legacy while strengthening community relationships. Through careful
but sustained growth ACLT has acquired and redeveloped 45 properties
with 58 units of low-income housing and has sold 31 rehabilitated buildings to low-income
first-time homebuyers. We are managing 27 properties. For the past two
years ACLT has participated in a staff sharing arrangement with the
Affordable Housing Partnership that has increased the capacities of both
organizations. In addition ACLT has provided work sites and supervision
for job training programs in construction for at-risk youth for the past
several years. |
|
255 Orange Street |
Strengthening neighborhoods, increasing homeownership opportunities, and preserving affordable housing. |
