Great news from Turin, which becomes the first city in Italy to implement the #CommunityLandTrust model, with a pilot project set to start in 2026.
From the article:
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"the Community Land Trust will be provided with collective spaces, such as the inner courtyard and spaces now allocated for commercial use, which can be used by residents for community activities or as an extension of their home space, as well as service spaces such as a shared laundry room. In addition, a green terrace will be redesigned as an additional space for residents' use. Added to this is a photovoltaic system that will lower energy consumption as much as possible."
The beneficiaries will be families with or without children, single-income earners between €1,300 and €1,500 monthly, with no home of their own in Italy or family networks that can offer guarantees. Supported by Banca Etica [Italy's "ethical" bank, which supports many social initiatives and NGOs] even during the renovation work phase, access to the apartments will be guaranteed to families, also composed of a single parent with children.
The building was purchased at a total price of €475,600 for 1,000 square meters and will offer 16 apartments from 40 to 83 square meters, and in addition to collective spaces also a community space open to the neighborhood.
All self-funded: €500,000 of social loans were raised from 81 people (minimum payment €700, average €5,000) and 5 institutions and cooperatives. The renovation will be financed by the sale of 5 housing units to partners, a collection of contributions and the bank loan related to the sale of the other 11 housing units to families.
Housing costs (mortgage, heating...) for families will not exceed 1/3 of monthly income (about 500€).
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As I devoted the last year to studying community land ownership, seeing a different way to conceive housing and property in my hometown is refreshing. Let's hope and advocate for an expansion of the model in Italy, much needed in a dire housing context.
International Center for Community Land Trusts European Community Land Trust Network
https://lnkd.in/efuWBkPx