What's Happening?
A conversation between Rudy Espinoza and Allison Wagstrom highlights the importance of real estate ownership for nonprofits. Espinoza, from Inclusive Action for the City, discusses how real estate ownership can
prevent displacement of community-based small businesses. Wagstrom, from Propel Nonprofits, emphasizes the need for nonprofits to connect real estate decisions to their mission and strategic planning. The discussion covers the challenges and benefits of owning versus renting property, with a focus on community stewardship and land justice. Espinoza shares insights from the CORE alliance in East Los Angeles, which aims to acquire real estate to support local businesses and prevent gentrification. The conversation also addresses the impact of remote work on real estate needs and the importance of compassionate property management.
Why It's Important?
Real estate ownership by nonprofits can play a crucial role in community stability and empowerment. By owning property, nonprofits can provide affordable spaces for local businesses and community activities, reducing the risk of displacement due to rising rents. This approach aligns with broader goals of land justice and community stewardship, allowing nonprofits to have a direct impact on their neighborhoods. The discussion highlights the need for nonprofits to develop real estate expertise and consider partnerships to overcome financial barriers. Additionally, the focus on compassionate property management underscores the importance of supporting tenants and maintaining affordable housing options. As nonprofits navigate real estate decisions, they contribute to the broader movement for equitable access to land and resources.
