Strategy in Action

The Anchorage Community Land Trust (ACLT) in Mountain View, a diverse neighborhood with a large Alaska Native population, is run by a community development organization that operates in three low-income neighborhoods facilitating business creation, local job growth, and resident leadership. The trust acquires and renovates properties to sell or rent to community-serving entities, including small businesses owned by low-income and working-class BIPOC residents. They support businesses through business assistance, training programs, and grants. Between 2003 and 2012, ACLT invested $15.7 million to purchase nine commercial spaces, resulting in 24 commercial tenants and 11 new businesses in a formerly disinvested corridor. This includes a credit union that was one of Mount View’s first financial institutions in over two decades and the Mountain View Service Center, which houses seven community-serving nonprofits. Together, these new commercial tenants and new businesses have attracted an additional $45 million in investments for ACLT.