How affordable housing activists are trying to thwart cutthroat real estate capitalism

Oliver Burke could have joined his Silicon Valley counterparts who cashed in precious stock options and pumped their newfound riches into start-up businesses, bigger houses and fancier cars.

Oliver Burke is giving his property in the Lower Bottoms area to a real estate cooperative, which plans to build as many as six tiny homes for people in need. A deed restriction will keep the homes affordable in perpetuity. . The profit motive still drives the vast majority of deals, so removing properties from the speculative market feels “un-intuitive,” said Daryl Fairweather, chief economist for the internet-centric real estate brokerage Redfin. Still, she said, this kind of activism could gain momentum in politically liberal communities.

Carolyn North is a dancer and widow of a former UC Berkeley chemistry professor. Instead of leaving her Berkeley home to her three children, North is donating it to the East Bay Permanent Real Estate Cooperative, which, in turn, will hold the land in trust and rent rooms.Carolyn North, a writer and dance therapist who has agreed to donate her $1.3-million Berkeley home to the East Bay Permanent Real Estate Cooperative to create affordable housing for artists.

Dixi Carrillo, who was offered $1.4 million by a real estate developer for a seven-unit apartment building and instead sold it to the Oakland Community Land Trust for $1.1 million. The trust has kept rents about $1,000 in a neighborhood where the units could fetch two to three times that much. “It stays affordable forever and ever and ever,” said Carrillo, 75, a photographer. “I loved the idea of that.

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