Fort Worth has officially taken a major step toward long-term housing affordability with the formal designation of the Fort Worth Community Land Trust (FWCLT)—the city’s first-ever community land trust.
This innovative model was made possible through a collaboration between the City of Fort Worth, the Rainwater Charitable Foundation, and the Fort Worth Housing Finance Corporation, which purchased a 15-acre site from Southwestern Baptist Theological Seminary in 2023. Now, that land will be developed into approximately 200 affordable homes, a mix of renovated and newly built units. The first homes are expected to be available by early 2025.
Under the land trust model, FWCLT will retain ownership of the land and lease it to homeowners under long-term (typically 99-year) renewable agreements. This helps keep homes permanently affordable while still allowing families to build equity and generational wealth.
FWCLT is working in partnership with Housing Channel, a local nonprofit with deep experience in homeownership and affordability across the region. The organization will provide homebuyer support and education as families prepare for homeownership.
City officials see the land trust as a way to address longstanding challenges related to rising housing costs and displacement. “This is truly an opportunity… to help these families have that pride of homeownership and build that generational wealth,” said District 9 Council member Elizabeth Beck.
Fort Worth’s designation of the land trust also comes with a tax incentive: land held by the trust is exempt from city property taxes, though homes owned by residents will still be taxed. Assistant City Manager Fernando Costa noted this change will ultimately bring more revenue to the city than when the land was tax-exempt under the seminary.
The board of the Fort Worth Community Land Trust includes local leaders, residents, and nonprofit representatives—and the organization is actively seeking its first executive director to help guide this important work.
Read the full article by Fort Worth Report:
Fort Worth moves forward with affordable housing efforts through first land trust
