Community-controlled properties with East Bay Permanent Real Estate Collective
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USA/Canada, East Bay Permanent Real Estate Collective, Offline- Where did this use case occur?
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2017 - ongoing- When did this use case occur?
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Foundations and Technical Partners- Who were some of the key collaborators
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~500 residents + community owners- How many people participated?
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Cooperative, Housing, Municipality, Urban- What are some keywords?
What was the problem?
The housing market has become increasingly speculative in many cities over the globe. This has led to many housing alternatives becoming inaccessible for marginalized communities.
How does the community approach the problem?
The East Bay Permanent Real Estate Collective accepts investments of USD 1,000 from its members and buys real estate in Oakland and in the East Bay area. This real estate is then co-owned by the members preserved for further use within the community.
No Specified Tools
What were the results?
• As of 2021, there are 488 co-owners in the collective
• Every year, the collective undergoes about 50 real estate due diligence processes (detailed analyses prior to purchase) to consider adding to their land and housing portfolio
How participatory was it?
Empower
Members of the cooperative have their primary objectives defined and transparent through the membership structure. The decision-making in various capacities takes place in accordance with these structures and settings.
What makes this Use Case unique?
'I have also read about real estate collectives in Germany. They provide an excellent solution for marginalized communities to maintain affordable housing in the face of gentrification and speculative markets. Additionally, they offer a novel perspective on how communities can unite to address the challenges posed by purchasing power disparities.' -Sem