What is a MINT?
A Mixed-Income Neighborhood Trust, or MINT, is a tool for housing and community development. Trust Neighborhoods created the MINT model in 2020 in collaboration with neighborhood partners. Today, we support neighborhood-based organizations across the country to design, launch, and sustain MINTs where they are most impactful.
KEY FEATURES
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Each MINT is set-up in partnership with an existing neighborhood-based organization
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Governed by a Perpetual Purpose Trust, MINTs place community stakeholders in positions of power through legal oversight
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MINTs develop and own neighborhood-focused mixed-income rental housing and commercial properties
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Neighborhood receives financial upside alongside impact investors as MINTs grow
HOW A MINT IS DIFFERENT
Real community power to direct development and continue to make their home a better place to live
Mixed-income approach using unrestricted rents to cross-subsidize affordable units, paying for affordability in perpetuity
More flexible financing through pools of capital not traditionally accessible to neighborhood-based organizations, including impact investment capital
Serve various neighborhood rental needs from multi-family to single family housing, and retail
Non-extractive investment through neighborhood profit sharing and purpose driven community-governance
Celebration of a newly renovated home
Tulsa, OK
Celebration of EC MINT’s first acquisition on Xenia Street
Denver-Aurora, CO
Celebration of the launch with Mayor Michelle Wu
Boston, MA
HOW A MINT IS DIFFERENT
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An existing neighborhood-based organization has capacity, legitimacy within the community, real estate fluency, and is worried about renter displacement.
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Rents are likely to rise in coming years in a way that risks pricing out current residents. This path of growth might be driven by a revitalized downtown, education or medical centers, new employers, demand for walkable urban neighborhoods, or investments in nearby parks and transit.
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A neighborhood can feasibly acquire enough properties at non-speculative prices and sufficient scale.
