Maggie Walker Community Land Trust

What Maggie Walker Community Land Trust does

Maggie Walker Community Land Trust (MWCLT) is a 501(c)(3) nonprofit organization founded in 2016 and headquartered in Richmond, Virginia. The organization implements the Community Land Trust (CLT) model to provide permanently affordable homeownership opportunities for low and moderate-income households in the Richmond metropolitan area, serving the City of Richmond and the counties of Chesterfield and Henrico. Under the CLT model, MWCLT retains ownership of the land while selling homes to qualified buyers at below-market prices, with resale prices governed by a formula tied to Richmond Area Median Income (AMI) increases. This Ground Lease structure ensures homes remain permanently affordable across successive owners while still allowing original buyers to build equity through mortgage payments.

MWCLT operates two core service lines: a homeownership program that sells rehabilitated and newly constructed homes to income-qualified buyers earning at or below 80% or 115% of AMI, and a land banking service for which MWCLT is the designated land bank entity for three governmental jurisdictions. The organization develops housing across nine community sites including Parkside Townes (a 25-unit new construction project with HHHunt), Randolph, Jackson Ward, East End, Northside, Southside, Henrico, Chesterfield, and Ettrick Landing (Virginia's first CLT subdivision). Buyer acquisition is driven by monthly information sessions, community partnerships, and HUD-certified homeownership training through partner organizations.

The business model is nonprofit and donation-driven, with revenue streams including tax-deductible donations, foundation grants, corporate sponsorships, government grants, and earned income from land banking services and developer partnerships. The organization has 9 employees led by CEO Dr. Mae Worthey-Thomas (appointed February 2025), and is governed by a tripartite board of homeowners, community members, and public members. Key funders include Altria, Capital One, Bank of America, the Virginia Department of Housing and Community Development, Virginia Housing, the Community Foundation for a Greater Richmond, the William R. Kenan, Jr. Charitable Trust, and the Pauley Family Foundation.

Name

Maggie Walker Community Land Trust

Legal name

Maggie Walker Community Land Trust

Website

https://maggiewalkerclt.org

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Maggie Walker Community Land Trust is a Richmond, Virginia-based 501(c)(3) nonprofit that uses the Community Land Trust model to deliver permanently affordable homeownership to low and moderate-income households across the City of Richmond, Chesterfield County, and Henrico County through ground lease resale restrictions and land banking services.

Ownership category

akta.pro rank

Product category

Affordable Housing Services

NAICS

Residential Property Managers (531311), Lessors of Residential Buildings and Dwellings (53111), New Single-Family Housing Construction (except For-Sale Builders) (236115), New Multifamily Housing Construction (except For-Sale Builders) (236116)

SIC

Lessors Of Real Property, Nec (6519), Land Subdividers & Developers (No Cemeteries) (6552), Operators Of Apartment Buildings (6513)

akta.pro primary industry

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

akta.pro secondary industries

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD), Affordable Housing / Down Payment Assistance (DPA) Mortgage Origination (FSALAAAM), Housing & Neighborhood Services (Local Housing Programs) (BPAIACAJ), State & Local Housing Finance Agencies (HFAs) (FSALAKAA)

Keywords

• Community land trust
• Affordable housing
• Permanent affordability
• Land banking services
• Homeownership programs

Headquarters

HQ city

Richmond

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Donations and Charitable Contributions: The 501(c)(3) nonprofit accepts tax-deductible donations from individuals and organizations to support land acquisition, home development, community outreach, and homebuyer education programs.
2. Land Banking Services: MWCLT serves as the designated land bank for City of Richmond (since 2018), Chesterfield County (since 2019), and Henrico County (since 2020), acquiring vacant and abandoned properties and stewarding them toward productive affordable housing use.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

MWCLT is a 501(c)(3) nonprofit that develops and stewards permanently affordable homeownership opportunities using the Community Land Trust model. The organization retains ownership of the land while selling homes at below-market prices to income-qualified buyers, with resale prices restricted based on Richmond Area Median Income (AMI) changes to keep homes affordable for future buyers. It also serves as the designated land bank for City of Richmond, Chesterfield County, and Henrico County, acquiring vacant and abandoned properties for affordable housing development.

Product overview

The Maggie Walker Community Land Trust (MWCLT) operates a single integrated platform offering permanently affordable homeownership through the Community Land Trust model. The core offering combines land banking services that acquire and steward vacant properties with a homeownership program that sells CLT homes to income-qualified buyers while retaining land ownership. Additional support modules include approved mortgage lending partnerships, HUD-certified homebuyer training, and down payment assistance programs. MWCLT develops housing across multiple communities in the Richmond metropolitan region including Parkside Townes, Randolph, Jackson Ward, East End, Northside, Southside, Henrico, Chesterfield, and Ettrick Landing, each featuring newly constructed or rehabilitated homes.

Differentiator

Problem solved

Functional benefit

Products and services

• Community Land Trust Homeownership Program Permanently affordable homeownership opportunities using the Community Land Trust model where MWCLT retains land ownership while selling homes to qualified low and moderate-income buyers, with resale prices restricted to remain affordable for future buyers.
• Land Banking Services MWCLT serves as the designated land bank for City of Richmond, Chesterfield County, and Henrico County, acquiring vacant, abandoned, and deteriorated properties and stewarding them toward productive affordable housing use.
• Homebuyer Assistance Programs Partnership-based programs providing down payment assistance, VIDA matched savings, and SPARC reduced-rate financing through partner organizations including Housing Opportunities Made Equal and Southside Community Development and Housing Corporation.
• HUD-Certified Homeownership Training Required homebuyer education courses offered through partner organizations including HOME of VA, Virginia Housing, and Southside Community Development and Housing Corporation.
• Mortgage Lending Partnerships Network of approved mortgage lenders including Virginia Credit Union, TowneBank Mortgage, Fulton Mortgage, and C&F Mortgage Corporation that provide financing for CLT homebuyers.
• Parkside Townes Community Development New construction townhome community in Sandston, VA developed in partnership with HHHunt, with 25 units placed into the CLT program for permanent affordability; features include 2-3 bedroom layouts, HOA-covered maintenance, and proximity to Taylor Farm Park.

Quantifiable outcome

• 37 vacant properties returned to productive use through Richmond Land Bank as of 2023
• +1 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Seven partnerships are on record, tiered core and minor.

• project:HOMEScoreStrategic or Co-development PartnerNonprofit housing development partner that rehabilitates and constructs CLT homes; partnered on Randolph, Jackson Ward, East End, Southside projects
• Richmond Metropolitan Habitat for HumanityminorStrategic or Co-development PartnerHabitat affiliate partner in affordable housing development
• Housing Opportunities Made Equal (HOME of VA)coreImplementation/ SI/ Consulting PartnerHUD-approved housing counseling agency providing homeownership classes and down payment assistance for CLT applicants
• Southside Community Development and Housing CorporationcoreImplementation/ SI/ Consulting PartnerHousing counseling and down payment assistance partner; administers VIDA matched savings program for CLT applicants
• Richmond Association of REALTORScoreChannel Partner/ Reseller/ DistributorTrade association partner; Laura Lafayette serves as CEO and represents realtors in the CLT ecosystem
• HHHuntcoreStrategic or Co-development PartnerDeveloper partner for Parkside Townes project in Sandston, VA; 25 townhomes being developed with CLT permanently affordable units
• HHHuntcoreStrategic or Co-development PartnerDeveloper partner for Parkside Townes project in Sandston, VA; 25 townhomes being developed with CLT permanently affordable units

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Atlanta Land Trust: Regional CLT focused on permanently affordable homeownership in metropolitan Atlanta. Mirrors MWCLT's use of ground leases and resale-restricted pricing, but in a different Southeast metro.
• Burlington Community Land Trust (now part of Champlain Housing Trust): The original Burlington CLT merged into Champlain Housing Trust; cited here as the historical reference model for resale-restricted CLT homeownership that MWCLT's Ground Lease structure mirrors.
• Champlain Housing Trust: The largest community land trust in the United States, based in Burlington, VT. Operates the same CLT model (resale-restricted homeownership plus rental housing) and is the de facto gold standard for the structure MWCLT replicates in Richmond.
• project:HOMES: Nonprofit affordable housing developer in Richmond that rehabs and constructs CLT homes in partnership with MWCLT. Both operate in the same neighborhoods and serve the same buyer segment, though project:HOMES focuses on the construction side.
• Sawmill Community Land Trust: CLT serving the Albuquerque area with permanently affordable homeownership and land banking. Comparable size and mission to MWCLT, with similar community-led governance.
• Dudley Street Neighborhood Initiative (DSNI): Boston-based community land trust with strong resident-led governance and permanently affordable homeownership. Comparable in mission (anti-displacement, community-controlled land) but operates in a Northeast urban context.
• Richmond Metropolitan Habitat for Humanity: Local Habitat affiliate that builds and rehabs affordable homes for low-income buyers in the same Richmond region. Differentiates via 0% mortgage model rather than AMI resale formula, but competes for the same pool of affordable homeownership candidates.

Broad incumbents

• Grounded Solutions Network: National membership organization supporting CLTs and shared-equity housing providers across the U.S. MWCLT participates in this ecosystem; Grounded Solutions is the umbrella body setting CLT standards and policy advocacy the company benefits from.
• Virginia Housing: State housing finance agency providing SPARC loans and homebuyer education to MWCLT applicants. A critical capital and policy counterparty, not a direct competitor, but the most relevant state-level affordable housing peer.

Regional players

• Greater Boston Community Land Trust Network: Network of CLTs operating across Greater Boston with the same permanently affordable homeownership model. Comparable in model architecture but serves a different geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/MaggieWalkerCLT
• YouTubeyoutube.com/@maggiewalkerclt
• Facebookfacebook.com/MWCLT
• Instagraminstagram.com/maggiewalker.clt
• LinkedInlinkedin.com/company/maggiewalkerclt

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Maggie Walker Community Land Trust