Finishing the Community Process for BNCLT’s Homeownership Ground Lease
While BNCLT is strengthening our infrastructure for permanently affordable and community controlled rental properties, we are simultaneously preparing for our 6 new affordable homeownership condos at 355 Park Street. BNCLT, with our development partner Co-Everything and our community lenders (Boston Ujima Project, Boston Impact Initiative, Local Enterprise Assistance Fund, and the Greater Boston CLT Fund) are inching towards closing with the City of Boston on this long awaited development.
Popular education session at BNCLT Ground Lease Member Meeting.
A big part of this work has involved preparing BNCLT’s standard ground lease: the legal document that outlines the relationship between BNCLT and our future homeowners. Over the past year, BNCLT has conducted a community decision-making process, involving:
Developing recommendations for values-based sections of the ground lease in our monthly Real Estate and Acquisition Committee meetings.
Receiving feedback on these recommendations at two BNCLT Members Meetings, which included popular education activities.
Receiving insight and guidance from our CLT peers, fellow practitioners, and a CLT homeowner.
Finalizing the document with law students from the Community Enterprise Clinic at BC Law School and our pro-bono lawyers at Goulston & Storrs.
A few of our members and board members shared what it’s been like to participate in this process:
“One of the things I was so happy about was that we were able to hear from different people on another land trust…We had some great advice from Harry Smith which was really, really helpful, and clarified a lot of things for us …I think we're getting there. And it's exciting.” – Alma Chislom, Board President
“I appreciated the roleplay. That opened my eyes to a lot of questions. And it made me understand the process more.” – Amos Cordon, Resident Board Member
“I appreciated the interactive elements, including the debate element. It was interesting to be put in a position where you might not agree with the thing that you're trying to argue, and think about what the pros and cons of it are.” – Olivia Golden, Voting Member
We are so close to the finish line, and look forward to sharing the final product with you and our future CLT homeowners. In the meantime, stay tuned for updates on our development process for 355 Park Street. The closing has been delayed due to a retaining wall issue the City has had to address. We will likely close in April or May, followed by breaking ground for construction.
We will resume drop-in sessions online and in the neighborhood as the project progresses. Hope to see you there!