Elevation Community Land Trust

For most families, the first step in building wealth is owning a home. The equity they derive by owning an appreciating asset provides the freedom to build the lives they want for themselves today and into the future.

But, as Stefka Fanchi, President and CEO of Elevation Community Land Trust (ECLT) explains, we still lack homes that are affordable for low-to-moderate-income homebuyers. 

In 2017, Gary and a coalition of partners established ECLT to utilize the land trust model to keep homeownership permanently affordable. In this model, ECLT retains ownership of the land through a long-term ground lease, so homebuyers purchase only the home at a price well below market rate.

When a homeowner sells, they keep a share of what their home has gained in value, while the rest stays with the trust to keep that same home affordable for the next family. Since its founding, ECLT has helped nearly 400 families become homeowners across Colorado.

From public finance tools that lower construction and mortgage costs to streamlining the development process so homes can be built more quickly and efficiently, ECLT continues to collaborate with partners to increase the number of affordable homes and to put more Coloradans on the path to building wealth.

For Gary, homeownership is part of a bigger belief: a good education and a good job are not enough. With wages flat and the cost of living soaring, families need wealth — ownership in appreciating assets — to lead lives of choice and prosperity.

We’re proud to partner with bold leaders like Stefka, organizations like ECLT and communities across Colorado to ensure every family has the opportunity to build wealth that lasts.

With our partners, we’re building on the impact of Elevation Community Land Trust to help Coloradans build wealth at every stage in life. Join us in this next chapter.