33 Clinton Avenue, Albany, NY 12207
(518) 436-8997 Fax: (518) 436-0320
ALBANY COMMUNITY LAND TRUST
- Homeownership Opportunities for Low Income Families
- Affordability for Future Generations
- Long-Term Community Control of Land and Housing
There is Only So Much Land in Albany. Increasing demand for this limited space pushes real estate prices up and up. This is a major reason why housing becomes less and less affordable. Who will own Albany's land in the future? Who will decide how this land will be used? Who will be able to afford to live on it?
Albany's Affordable Housing Crisis. 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.
In Spite of Current Efforts, the Crisis Continues. Nonprofit organizations, as well as the City, are using state and federal funding to rehabilitate and build more units of affordable housing. These are important efforts and they must continue. But they are not enough to solve the crisis alone.
- Funding is limited; not enough units can be made affordable.
- These units will be regulated only for a certain number of years; then prices and rents can rise again beyond the reach of low income people.
- Some housing projects will increase the value of surrounding property, making neighborhood housing, as a whole, less affordable.
How Does ACLT Address the Problem? ACLT has been acquiring, renovating, and reselling homes since 1987. ACLT cannot perform miracles, but it brings a much needed, long term perspective to Albany's affordable housing efforts. In addition to helping some 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.
