The Fort Worth Housing Finance Corp. purchased a 15-acre plot of land from Southwestern Baptist Theological Seminary last August with the hopes of having it owned and managed by a community land trust.
Almost a year later, Fort Worth City Council formally designated a newly formed nonprofit organization as the first community land trust in the city’s history.
“It’s quite an exciting opportunity for the city, and still early in its infancy of where it’s headed,” Mayor Mattie Parker said.
The Fort Worth Community Land Trust was created in June 2023 in collaboration with the Rainwater Charitable Foundation, and the organization has been working to obtain a land trust designation from the city in the months since.
The concept of a land trust is simple: The organization purchases, retains and leases land to those with lower incomes, who can purchase or rent homes on the land at a low cost.
Land trust ground leases typically last 99 years, with renewal options. Because the underlying land is owned by the land trust, even if a family decides to sell the house, the property can remain affordable for future generations. A resale price for a home is generally negotiated upon purchase, so that it can continue to be bought by those in need in the future.
In Fort Worth, that concept will first be tested on the former Seminary property. Brandon Hill, who chairs the land trust’s board, said the goal is to have about 200 units of affordable housing on the Seminary property once it’s been fully developed.
There are some existing units that will be renovated, he said, and others that will be torn down and rebuilt. He expects the first units to be available in the first quarter of 2025.
“It will be developed in phases, over a period of time, but it’s well underway,” he said. “And we’re looking forward to getting it online and bringing in its first residents.”
The land trust is partnering with Housing Channel, a nonprofit agency that helps people build wealth through homeownership. Hill said they’re working with Housing Channel because of its unique experience in developing affordable housing across the metroplex.
“When we talk about affordable housing, one of the rubs that we typically hear is that, ‘Well it’s just rental properties. What does it do to help build generational wealth for these folks?’” District 9 Council member Elizabeth Beck said. “And this is truly an opportunity for the city of Fort Worth to help these families have that pride of homeownership and build that generational wealth so that they can improve their lot in life.”
Fort Worth’s decision to grant the Fort Worth Community Land Trust a formal designation also means the land it owns and leases is exempt from city property taxes. The homes owned by the families, however, will be subject to property taxes.
“Effectively, the city will receive more revenue from the property in the future than we have been receiving, because the property was formerly owned by the Seminary and therefore had been tax exempt,” Assistant City Manager Fernando Costa said.
The land trust’s board is made up of residents and community stakeholders. Costa, who is a board member, said other current members include:
- Jeremy Smith with the Rainwater Charitable Foundation
- Brandon Hill with Kelly, Hart & Hallman
- Grant Coates with the Miles Foundation
- Jay McCall with the Rainwater Charitable Foundation
- Donna VanNess with Housing Channel
- Charletra Sharp with Cup O’ Vibes
- Christopher Brim with CMTS LLC
- Niketa Dennis with Frost Bank
- Justin Welborn with James R. Harris Partners
The Fort Worth Community Land Trust is also currently searching for its inaugural executive director to lead the organization and manage operations.
Other Texas cities, including Austin and Houston, already have land trusts in place.
“The reason we want (property) to be permanently affordable is because having long-term residents build stronger, safer and higher quality, diverse neighborhoods,” Hill said.
The land trust is one of a series of initiatives the city is exploring to combat its affordable housing crisis. Fort Worth adopted an affordable housing plan in October, which included dozens of recommendations on how to preserve neighborhoods while ensuring residents can afford to stay in them. Among them is the creation of a neighborhood pattern book of pre-approved housing designs.
The city is also considering — for the first time in its history — adding housing to its bond program in 2026. The bond, if approved, would support single-family housing and housing for people experiencing homelessness.
City staff are also exploring the creation of a formal land bank. Land banks allow a government entity to buy underused, abandoned or foreclosed property, maintain it and sell it at a low cost to approved developers.
