We have officially acquired our first 2 properties as BNCLT!

Pictured above: BNCLT tenants Tiffany Brown, Jean Cesaire, Michelet Gouboth; Board members Eliza Perod, Cortina Vann, Eloise Lawrence; Staff Meridith Levy, Cole Huang gathered in front of one of our new properties to mark this moment!

On Monday, BNCLT closed on its first acquisition since becoming a Community Land Trust.  We are delighted to bring two new properties onto our Land Trust.  Both are three-family buildings in Dorchester, sold to us by the Boston Community Cooperatives.  We will be renovating the units over the next 6 months, aiming to have 6 new households ready to go around the new year.  The new residents will join the CLT community and our BNCLT residents as we grow our model of community ownership.

BNCLT received a soft loan subsidy from City of Boston Department of Neighborhood Development through the Acquisition Opportunity Program (AOP) to help acquire the buildings. We have also been receiving support from allied investors who are making low interest loans, as well as an acquisition loan from The Life Insurance Community Investment Initiative.  BNCLT is committed to working with MWBE (Minority and Women Business Enterprises), ideally from our community, to take on the various parts of this project.   We are so thankful to Goulston Storrs for their legal support, and to the all of the players on the team who have been 100% resourceful to move this project forward.

We still have a gap to fill through donations and 2% interest loans--please reach out if you'd like to contribute! Contact Meridith: mlevy@bnclt.org

This is a wonderful milestone for BNCLT!