Greg Beato of the New York Times reports on what local nonprofits in Marin County, Calif. and the greater Bay Area are doing to make sure there is permanent affordable housing in one of the nation's costliest areas.Much of the local workforce can no longer afford to live in the area because of the lack of affordable options. So, many are now turning to nonprofits, such as the Community Land Trust Association of West Marin (called CLAM for short), that buy individual properties one-by-one to create permanent affordable housing.
“Instead of consolidating permanently affordable housing in one development,” said a trust board member, Marshall Livingston, “we wanted to sprinkle it throughout the community.”
“On every one of our resales, people have left with more money than they bought their house for,” Ms. Goetschius said. “It wasn’t a windfall, but we were able to get the next families in without any additional subsidies.”