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First CFLT home in Los Angeles that was developed with the County of Los Angeles |
The Community Foundation Land Trust (CFLT) is a nonprofit affiliate of the California Community Foundation (CCF). It was established in 2003 to create development opportunities for affordable homes, to achieve equity appreciation for entry-level homeowners and to ensure that homes remain permanently affordable for future generations.
CFLT acquires land, works with community partners to define the development parameters, obtains entitlements and enters into long-term ground leases with selected developers.
Click on the following sections to learn more about the Community Foundation Land Trust.
CFLT Highlighted Projects
Since 2003 CFLT has invested more than $12 million to initiate the development of more than 250 homes. Another 452 homes and an investment of $18 million are in the planning stages. These homes include both for-sale and rental units. Current CFLT projects include:
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| Seven Maples, seen here in the construction phase, will be ready for occupancy in June 2009 |
Seven Maples, 2630 W. Seventh St., a 57-unit apartment complex for low-income seniors in the Westlake neighborhood west of downtown Los Angeles. CFLT purchased the land in 2006, and worked with the Los Angeles Housing Partnership to obtain entitlements and $18 million in financing commitments. St. Barnabas Senior Center will provide social services. Seven Maples will be ready for occupancy in June 2009.
- Salinas Townhomes, a development of 96 townhomes in the Willowbrook neighborhood of south Los Angeles. CFLT has agreed to purchase 38 of the homes when completed from The Olson Company, a high-quality developer of urban in-fill workforce housing. CFLT will resell the homes for $87,000 to $250,000, depending on buyers’ incomes. CFLT also will ground lease the land and sell the improvements to the buyers, ensuring the long-term affordability of the homes.
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