SFCLT Crowdsourcing Campaign Extended!
Good news! Our closing date has been extended until January 15th, 2021. So it’s not too late to become an investor in SFCLT's latest acquisition project 285 Turk St. with a 95% majority BIPOC community- its residents being primarily Black, Filipino, or Indigenous Mayans from the Yucatan Peninsula.
Our plan is to convert 285 into a Limited Equity Housing Cooperative (LEHC), eventually becoming a model for creating BIPOC LEHCs in San Francisco, offering people of low and moderate income a rare opportunity to own a home in the city.
A fundamental component of this transition to LEHC is providing the residents of 285 Turk with a Resident Education and Outreach Coordinator (REOC). This method proved successful with our very first LEHC, Columbus United Cooperative, where the REOC was crucial to facilitating bilingual community collaboration among the mostly first generation Chinese immigrant and second generation Chinese American residents.
The REOC provides residents with essential support :
helping residents save for their equity contribution
connecting residents with social and financial services
educating residents on cooperative housing
ensuring the building and community stays financially stable over time
Your investment would go directly to funding the REOC position as well as other closing and post-acquisition costs. The success of this project will be central to demonstrating that the CLT and Co-op models are important tools for BIPOC communities to create wealth and ownership in a city where these opportunities are out of reach. Your investment is not just in this building, but in every building to come after it.
Please stand in solidarity with the residents of 285 Turk and invest in a future for low-income San Franciscans! Investments small and large are welcome!
For details on how to invest check out our page on Small Change: https://www.smallchange.co/projects/BIPOC-Homeownership
*Small Change is an amazing crowdsourcing platform focused on small real estate projects like ours!