The MWCLT Richmond Land Bank provides a strategic, streamlined, and transparent method for repurposing vacant and tax delinquent property into assets that address community needs and desires.
RLB In Action
Turning vacant lots into affordable homes
Since beginning operation in 2018, the MWCLT Richmond Land Bank has received 39 vacant or tax-delinquent properties from the City of Richmond. Beginning in May of 2020, we have now transferred 15 of those properties to affordable housing developers like Habitat for Humanity, project:HOMES, Urban Hope, and the Maggie Walker CLT. These 15 properties will provide 23 new, high-quality, affordable homes across the city.
Updated April 2021
Land banks are entities that acquire, maintain, and return vacant and blighted property to productive uses.
What is a land bank?
They generally work within a certain locality or region, and can be related to local government or nonprofits. Land banks help leverage public and private resources to transform “problem properties” into community-oriented uses. In this role, land banks serve as the intermediary between local governments, who assist in land acquisition, and community organizations, who need land to advance their missions.