Innovative solutions for Cape Cod's housing challenges

Cape Cod faces a critical need for affordable housing. The Regional Housing Strategy, released in 2024 by the Cape Cod Commission, outlines several recommendations, including developing a Community Land Trust and Housing Land Bank to facilitate swifter acquisition of opportune properties for affordable and attainable housing.

A framework for establishing a Cape Cod Housing Trust and Housing Land Bank is complete. Created in collaboration with consultants Outwith Studio and Utile along with land bank consultants out of Ohio, the framework provides recommendations and next steps for potentially establishing the entity(ies) based on feedback received from stakeholders at numerous meetings throughout the fall and early winter. The framework emphasizes sustainable development and the importance of community engagement in ultimately bringing the entities to life.

The high cost of land on Cape Cod is a significant barrier to affordable housing, but a land bank can work toward acquiring undeveloped or underutilized parcels of land for future affordable or attainable housing projects, mitigating rising land costs and ensuring a steady supply of housing-ready properties. A trust can offer ground leases, where the trust retains ownership of the land while leasing it to homeowners or developers, keeping housing costs lower, ensuring long-term affordability, and protecting the community’s investment.

Properties that may be particularly suitable for a housing land bank or trust to acquire could involve repurposing existing structures into affordable or attainable housing units, such as unused commercial properties, schools, or motels, and collaboration with conservation groups will be vital in balancing housing development and redevelopment with environmental preservation.

Also critical to the viability and effectiveness of the entities will be establishing diverse, long-term funding streams. Public-private partnerships can be essential in leveraging resources from local governments, private developers, and nonprofits for affordable and attainable housing development.

The report suggests eventually creating community investment funds to support the trust, enabling residents and organizations to contribute directly to affordable housing projects and fostering a sense of shared ownership and accountability.

The report also emphasizes the criticality of community involvement in shaping these initiatives. Regular public forums, partnerships with local organizations, and transparent decision-making processes are critical to ensuring that these strategies reflect the needs of Cape Cod residents.

Affordable housing is essential for maintaining Cape Cod’s vibrant communities, local workforce, and economic vitality. These bold and innovative approaches to funding, land acquisition, and collaboration provide a roadmap for sustainable, community-driven housing solutions, helping Cape Cod be a place where everyone can thrive.

Learn more about the Regional Housing Strategy: www.capecodcommission.org/housing