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Creating Communities of Opportunity

This year, the Community Foundation celebrates 50 years of philanthropy in the greater Richmond region. This milestone is made possible by our growing network of donors, whose collective generosity has improved the quality of life in our region. The progress achieved thus far is also a reflection of collaboration and shared vision among community partners, and our ability to support forward-thinking initiatives that can scale solutions and create communities of opportunity.


In this spirit, we are pleased to announce a special anniversary grant of $1 million to the Maggie Walker Community Land Trust (MWCLT). This grant signifies the Community Foundation’s deep commitment to affordable housing as a cornerstone to economic stability and wealth building for low to moderate income families.

“Much like the concept of endowment, this infusion of support will allow the Maggie Walker Community Land Trust to develop and steward permanently affordable housing that will transform lives across generations.”
~ Sherrie Armstrong, President & CEO, Community Foundation


Created in 2016, Maggie Walker Community Land Trust uses a proven model that creates single-family homes – often utilizing vacant land or rehabilitating deteriorated properties – that are sold to qualified buyers while the trust retains ownership of the land. When a homeowner sells, the community land trust and the homeowner “share” the equity created by the increase in market value. MWCLT’s share stays in the house and is not added to the sales price. This keeps the home affordable to future qualified homebuyers.

  With 26 homes currently in various stages of development, MWCLT has a goal to increase its portfolio to 113 homes in the next five years. This grant will accelerate the process by directly funding the acquisition and subsidy of 40 properties, many in Richmond’s East End which the foundation has identified as a community of focus. Over the next 50 years, these homes will serve as many as 400 families. Notably, MWCLT partners with existing housing organizations to build and rehabilitate homes, as well as to recruit and coach prospective buyers.

“We view this investment as similar to our recent announcement to join with others in jump-starting the expansion of quality after-school programming for students in Richmond Public Schools,” says Armstrong. “We have a unique opportunity to be proactive, go bigger, and invest deeper – all as a complement and addition to our annual grantmaking.”
With 26 homes currently in various stages of development, MWCLT has a goal to increase its portfolio to 113 homes in the next five years. This grant will accelerate the process by directly funding the acquisition and subsidy of 40 properties, many in Richmond’s East End which the foundation has identified as a community of focus. Over the next 50 years, these homes will serve as many as 400 families. Notably, MWCLT partners with existing housing organizations to build and rehabilitate homes, as well as to recruit and coach prospective buyers.

“We view this investment as similar to our recent announcement to join with others in jump-starting the expansion of quality after-school programming for students in Richmond Public Schools,” says Armstrong. “We have a unique opportunity to be proactive, go bigger, and invest deeper – all as a complement and addition to our annual grantmaking.”



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