Community Owned Real Estate
In this episode, I speak with executive director Noni Session about how EB PREC is garnering support to shift real estate ownership from extractive developers into the hands of the BIPOC community in Oakland and the East Bay. She shares the difference between a permanent real estate co-op and land trust, ancestral remembrance of cooperative ownership, how they got the first group of people to invest, their governance structure and multi-stakeholder model, prioritizing inclusivity and accessibility to individual investors, transparency of investment risks and how they mitigate it, and their exciting new venture - a historic Black arts venue they’ve acquired for Black artists and small businesses at 50% of market rate.