In an editorial, Jersey City Ward D council candidate Veronica Akaezuwa gives her vision for putting homes back in community hands in the Heights.
Jersey City can fight displacement—and build real affordability—by launching Community Land Trusts with Limited-Equity Co-ops.
Walk down Central Avenue or through the Heights on a weekend and you’ll hear the same story at the barber, the bodega, and the bakery: people love Jersey City, but too many can’t afford to stay.
Nearly 40% of our residents are cost-burdened, paying more than 30% of their income on housing, while vacant or abandoned properties drag down entire blocks. We can do better. We must do better.
Here’s the solution I’ll champion on City Council: Community Land Trusts paired with Limited-Equity Cooperatives (CLT-LEC). Think of it as a simple idea with powerful impact—neighbors owning their future together.
What’s a CLT-LEC?
A Community Land Trust is a nonprofit that owns land for the public good and leases it under long-term agreements so homes stay affordable permanently.
A Limited-Equity Co-op is a building where residents collectively own shares, with resale rules that keep prices low for the next family. Together, you get stable, community-controlled homes that can’t be flipped for profit or lost to speculation.
Most CLTs around the country focus on keeping single-family homes or rentals affordable.
What makes this proposal different is pairing CLTs with Limited-Equity Co-ops — a model that lets residents govern their buildings democratically and keep them affordable across generations.
It’s a way for Jersey City not just to join the movement, but to lead it.
Why this model fits Jersey City now
It targets the real scarcity: permanently affordable homes for low- and very-low-income residents.
In my graduate policy work, our team found the CLT-LEC model can convert overlooked properties into long-term affordability while protecting homeowners and tenants from market shocks.
New Jersey already has tools: the Land Bank law and the Abandoned Properties Rehabilitation Act (APRA). Newark has launched a land bank, and Essex County has created a CLT. Together, they provide proof of concept that this model can work in Jersey City.
And we can’t wait. When the city fails to act, private equity swoops in. Many once-vacant properties in the Heights became “Bayonne boxes” — adding few units at prices far out of reach, doing little for affordability or community.
Jersey City needs growth and density, but the right kind: permanently affordable, community-controlled housing. Every year we delay, more land is lost to speculation.
Why this model is fiscally smart for the city and residents
Traditional affordability programs — like tax-credit developments or 30-year deed restrictions — often expire, forcing governments to spend again just to keep the same homes affordable.
By contrast, a CLT requires only a one-time investment to acquire the land, then locks in affordability permanently and saves public dollars over the long run.
The challenge is how to finance that investment. Today, private redevelopers cover pre-acquisition and eminent domain costs through agreements with the Jersey City Redevelopment Agency (JCRA).
But the model is unreliable: redevelopers often back out if owners contest eminent domain, and even when they proceed, they have no obligation to deliver affordability unless JCRA negotiates it. In practice, the city is outsourcing housing policy to private actors driven by profit, not community needs.
That’s why Jersey City must step in—using our Affordable Housing Trust Fund, state and federal dollars, and a land bank model like Newark’s.
Yes, it requires public money up front, but unlike subsidies that expire after 15 or 30 years, this is a one-time investment that secures affordability forever, saving taxpayers in the long run.
Why this strengthens neighborhoods
Vacant buildings erode safety and small-business foot traffic. Resident-owned co-ops put lights back on and customers back on the sidewalk.
Seniors can age in place. Parents can plan for school without fearing the next rent spike. Stability is not just housing policy—it’s also a public safety and small-business strategy.
A clear, doable plan
As your Ward D councilmember, I will:
Create a Housing Vacancies Team to map and coordinate transfers to a land bank.
Launch a CLT-LEC pilot converting vacant homes into co-ops, serving households between 30–80% of AMI.
Lock in “forever affordability” through resale caps and ground leases.
Pair housing with support: right-to-counsel, property-tax relief, and good local jobs.
Why I’m all-in on this
I’m Veronica Akaezuwa, a candidate for City Council Ward D, policy professional and a soon-to-be mom raising my family here in the Heights.
In 2019, I co-wrote a Columbia University paper on how Jersey City could use CLT-LECs to deliver permanent affordability.
I’ve spent the years since organizing for practical, people-first reforms and implementing data-backed solutions to address our communities’ most pressing needs.
On November 4th, I ask for your vote. Let’s put homes back in community hands and keep our neighbors—seniors, workers, families—right here where they belong.
How many affordable units did Newark and other cities produce using these methods and what were the average rents like? Was eminent domain used to take control of these vacant or abandoned properties?