A delegation from Homeward Bound Villages recently attended a one-day housing summit in Indianapolis focused on cooperative housing. This valuable gathering brought together individuals from across our state and neighbors from Ohio and Kentucky to share knowledge and experiences in the cooperative housing and community land trust (CLT) space. Organizations at various stages of setting up cooperatives or CLTs across the state came together to exchange ideas, connect, and learn from a panel of experts.
The day began with two informative panel discussions. The first explored various housing models in the cooperative space, while the second featured experts discussing finance and project funding options for cooperative housing solutions. These sessions provided essential knowledge for organizations at different stages of their cooperative housing journey. Organizations had the opportunity to ask questions and found that many incurred several of the same obstacles.
During the lunch session, a boxed lunch was provided, and our HBV team had the opportunity to connect with other cooperative housing advocates and organizations from throughout the region. These networking opportunities proved incredibly valuable, allowing for the exchange of ideas and experiences with like-minded individuals working toward similar goals.
Following lunch, the summit offered several specialized breakout sessions. Our team strategically divided to maximize our learning across different areas:
- Real estate law and nonprofit structure
- Overview of the development process
- Budget and feasibility planning
- Zoning limitations and opportunities
- Community organizing strategies
- Understanding local context
The summit experience was further enriched by an invitation for our Homeward Bound Villages team to visit several cooperative houses in Bloomington Cooperative Living or BCL in Bloomington the following day. These houses, ranging from historic homes to purpose-built houses that provide cooperative housing within the community, provided practical examples of the concepts discussed at the summit. These cooperative housing solutions help bring affordable housing to the Bloomington housing market, where rent is exceedingly high. Many benefits of cooperative housing were evident from the tour.
One such example was the use of a large house (12+ bedrooms) that Homeward Bound Village toured. When this historic building was originally built, larger homes of this size were quite common. However, today, this property would most likely sit empty or be difficult to sell. Now, this house is inhabited by a community of individuals. This house also demonstrated the power of community within the cooperative, and the neighborhood. Aside from providing affordable housing, these cooperative housing examples benefit the entire community where they reside.
This summit served as a comprehensive primer for many grassroots organizations beginning their cooperative housing journey and seeking community driven solutions to housing. At Homeward Bound Villages, we strongly encourage our readers to seek out similar opportunities to learn about the power and potential of cooperative housing models. These educational events build knowledge and strengthen the network of individuals and organizations committed to creating more accessible, community-centered housing options.
