Shared Ownership
Shared Ownership
CCI seeks to deepen our understanding of how best to apply the Capital Absorption Framework to shared ownership initiatives. Ownership of land can increase community control and power while contributing to intergenerational wealth-building, thus transforming communities while building a more inclusive economic system. Our goal is to accelerate the work of emerging shared ownership initiatives and exponentially increase resources flowing to such efforts in low-income communities of color.
A New Framework for Community Investment
Community wealth building, economic democracy, shared ownership and the solidarity economy are all emergent and powerful frames that work to counter the current state of American capitalism and its inequitable and racist consequences. Our communities are like pressure cookers: they face development pressure as well as economic and ecological strain. A growing number of organizations and networks across the country are exploring new shared ownership models, adding them to the toolbox for self-determination in low-income communities of color—returning control of land, businesses, resources, and decision-making to the people.
Building a New Economy
Shared ownership models have the potential to make groundbreaking shifts toward racial and economic equity. But as with any community development model, the scope and scale must reach critical mass to shift systems. The Capital Absorption Framework has the potential to help quicken the pace of capital flowing into shared ownership projects and help leaders ensure that members of historically disinvested communities are steering the work. Over the next few months, we will be talking with leaders of shared ownership initiatives to better understand their aspirations, challenges, and accomplishments. As CCI explores this new landscape, we want to hear from our network about how shared ownership is shaping up in your communities.
Ecosystem Functions for Shared Ownership of Real Estate
The orchestration of various functions forms the backbone of a successful ecosystem. Together, these functions weave a complex tapestry of interactions and collaborations, each playing a distinct yet interconnected role in nurturing the ecosystem of shared ownership of land and real estate. The following graphic serves as a visual exploration of this dynamic ecosystem, highlighting the key functions ranging from project development and management to community engagement and policy advocacy. Through understanding the interconnected roles and collaborative efforts necessary within this framework, stakeholders can better navigate the intricacies of shared ownership and harness its potential to transform communities.
Red = Primary Function
Green = Secondary Function
Asset Management & Stewardship
Asset Management and Stewardship entail the meticulous management of properties and tenant relations, alongside the forecasting of asset-related opportunities and challenges. This area collaborates closely with project developers and community owners to ensure that asset management aligns with the collective values and objectives of the shared ownership effort.
Legal & Regulatory Framework
The Legal and Regulatory Framework plays a critical role in providing essential legal services, ensuring compliance with regulations, and navigating the complexities of securities and incorporation. This function is vital for project developers, influencing government policies and working in tandem with title companies to smooth the path of real estate transactions.
Policy Advocacy & Public Relations
Policy Advocacy and Public Relations focus on championing favorable policies and regulations that foster an enabling environment for shared ownership. This involves not only advocacy but also the crafting of public relations strategies and key messages tailored to specific audiences, leveraging data for evidence-based advocacy in cooperation with community organizers.
Professional Development & Capacity Building
Professional Development and Capacity Building aim to enhance the skills and capabilities of individuals within the ecosystem through targeted training and development programs. This function supports the growth and effectiveness of various stakeholders, ensuring a well-equipped community to tackle the challenges and opportunities of shared ownership.
Data Analysis & Research
Data Analysis and Research provide the insights and analytics necessary for informed decision-making within the ecosystem. By conducting market research, this function supports policy advocates and project developers with valuable data-driven insights, underlining the importance of informed strategy in the ecosystem’s success.
Financial Structuring & Funding
Financial Structuring and Funding are at the core of fueling the ecosystem, involving the sourcing and aggregation of capital necessary for the project pipeline and the meticulous structuring of deals. This function demands a strong partnership with project developers to secure the funding essential for project fruition.
Governance & Ownership
Foundational to shared ownership is the involvement of community members in the Ownership and Governance of assets. Through the purchase of shares or investments into property, community members actively participate in the governance of collectively owned assets, engaging in democratic processes and community education, in collaboration with community organizers and project developers.
Project Development & Management
At the heart of these efforts lies Project Development and Management, a core function dedicated to deal sourcing, property acquisition and development, and asset management. This area is pivotal, ensuring that projects from conception to realization are efficiently managed. It necessitates close collaboration with sectors specializing in legal services, financial structuring, property management, community engagement, and professional development, highlighting the interconnected nature of these endeavors.
Networking & Collaborative Platforms
Networking and Collaborative Platforms provide essential avenues for knowledge sharing, collaboration and relationship-building. These platforms are critical for the determination of shared priorities, assembly of project pipelines, and analysis of the ecosystem’s enabling environment, facilitating connections not only within the ecosystem but also with broader national networks.
Community Engagement & Empowerment
Community Engagement and Empowerment stand as pillars of the ecosystem, engaging in outreach, education, and the building of a strong community base. This segment is instrumental in sourcing tenants or owners, working hand in hand with project developers, policy advocates, and community owners to forge a development path that is in harmony with community needs and shared priorities.
The orchestration of various functions forms the backbone of a successful ecosystem. Together, these functions weave a complex tapestry of interactions and collaborations, each playing a distinct yet interconnected role in nurturing the ecosystem of shared ownership of land and real estate. The following graphic serves as a visual exploration of this dynamic ecosystem, highlighting the key functions ranging from project development and management to community engagement and policy advocacy. Through understanding the interconnected roles and collaborative efforts necessary within this framework, stakeholders can better navigate the intricacies of shared ownership and harness its potential to transform communities.
Red = Primary Function
Green = Secondary Function
Related Resources
We offer tools, research, and ideas to help those implementing shared ownership strategies. Have more to add? Contact [email protected]
Shared Ownership
Exploring Community Land Ownership: An Annotated Bibliography
Shared Ownership
Investing in Community: Supporting Small Businesses in Boyle Heights
Advancing Local Community Investment Systems
Participants in CCI’s programs develop capital absorption, racial equity, leadership, and collaboration skills to create the specific opportunities residents seek.
Past Programs
The multisector place-based teams in Connect Capital used the Capital Absorption Framework to lay the groundwork for attracting and deploying capital at scale to achieve economic and development community goals.
The Connecting Capital and Community (3C) initiative, funded by JPMorgan Chase & Co, addresses the racial inequities at the core of the housing ecosystem in six cities across the country.
Past Programs
Hospitals and health systems can be game-changing participants in efforts to improve conditions in the places they serve. They can do this through investing upstream in the social determinants, harnessing an array of assets to create more equitable, sustainable, and healthy communities.
Field Leaders
Meet some of the people working to build community wealth through shared ownership.
City of Chicago, Mayor's Office
First Deputy of Business and Neighborhood Development
Chicago, Illinois
The Allapatah Collaborative CDC
Executive Director
Miami, Florida
Bay Area Regional Health Inequities Initiative (BARHII)
Executive Director
Oakland, California
Mary Reynolds Babcock Foundation
Impact Investment Officer
New Orleans, Louisiana
The Latest from CCI
News, stories about our work, and more. For general press inquiries, please contact [email protected].
Stories
Collective Impact Forum: Achieving Transformational Results in Housing Through Partnerships
Stories
