San Francisco Community Land Trust (SFCLT) Receives $20 Million Donation from Philanthropist Mackenzie Scott
The San Francisco Community Land Trust (SFCLT) is thrilled to announce a transformative milestone in our mission to create permanently affordable housing for low-to-moderate-income individuals and families through community ownership of the land. Renowned philanthropist Mackenzie Scott has generously donated a staggering $20 million to support our vision of building housing and homeownership opportunities for BIPOC communities previously excluded from access to wealth.
This monumental gift from Ms. Scott exemplifies a shared commitment to addressing the housing affordability crisis that is crippling the Bay Area. We are deeply grateful for her belief and dedication to investing in the Community Land Trust model at a time when many traditional funders have stepped back.
As said by Leo Goldberg from the California Community Land Trust Network, “The scale and depth of our intersecting housing, public health, and climate sustainability challenges demand immediate and bold action. This forward-thinking donation from Mackenzie Scott will not only enable SFCLT to actualize its mission but will also catalyze the work of Community Land Trusts across the region and provide a template for those who want to see a housing market and economy that work for low-income and BIPOC communities.”
Leveraging for Sustainable Change—Launching Our Capital Campaign
We recognize this generous donation as a call for action, not complacency. To maximize its impact, we're launching a $60 million capital campaign, rallying our community's crucial support to turn this momentum into lasting change. This funding empowers SFCLT to expand to strengthen not just our organization but all Bay Area CLTs, advancing democratically-governed, affordable housing. This partnership showcases the potential of when trust-based philanthropy meets community-driven action.
While this remarkable gift propels us forward, our journey is far from complete. The housing crisis persists, and there remains an urgent need to secure affordable, stable housing for those who have been historically marginalized. We invite all our supporters, existing and new, to join us in this capital campaign to transform lives, neighborhoods, and our city for the better.
In the words of SFCLT Executive Director Saki Bailey, "The time to act is now before the predicted ‘real estate apocalypse’ makes all Bay Area land and housing so astronomically expensive that it is beyond the reach of any social policy intervention. The Bay Area is in dire need of tenant centered housing solutions like the CLT and Coop that empower tenants to collectively secure their housing futures rather than to leave it in the hands of self-interested developers or ineffective bureaucrats." Let us seize this opportunity together, bolstered by Ms. Scott’s generosity, and create a future where every member of our community has a safe, affordable place to call home.
Join us in celebrating this monumental news as we celebrate another victory for affordable housing: the official opening of 1130 Filbert Street!
Originally purchased on March 31, 2022, by SFCLT, this four-unit building located in the heart of Russian Hill has been transformed into a haven for seniors and families who have been long-term tenants for decades. Without the intervention of SFCLT, this property would have likely been converted into luxury condos or Tenancies in Common (TICs).
The acquisition of 1130 Filbert Street marks SFCLT's first property in the Russian Hill area and is a significant milestone as the first Small Sites Program acquisition in San Francisco's Supervisorial District 2, the city's wealthiest district. Join us on September 15th at 11:30 am at 1130 Filbert Street as we come together to celebrate its opening, a testament to the power of community-driven solutions and the vision of SFCLT.
For media inquiries and further information, please contact:
Saki Bailey
Executive Director
San Francisco Community Land Trust
415-850-6031