How Commercial Land Trusts Work
Welcome to
Minnesota’s First Commercial Land Trust
In 2019, Rondo Community Land Trust became the first commercial land trust in the state with the opening of Selby Milton Victoria (SMV), a mixed-use development featuring affordable senior housing and 9,300 sq. ft. of commercial space.
How It Works
Thriving Local Businesses.
By adapting the residential land trust model (see how it works) for commercial use, Rondo CLT leverages public and private affordability investments to drive down costs for both commercial and residential tenants/owners. As an example, commercial rent at our Selby Milton Victoria Project sits at $7 per square foot, far below market rate.
Advantages of a Commercial Land Trust
Preserve affordability for small businesses operated by people of color and non-profits in gentrifying areas at risk of displacement from rising rents.
Serve as a strategy to retain local businesses and organizations that represent and foster the unique cultural character of a neighborhood.
Help stabilize the local economy by providing affordable commercial spaces that support small businesses, create jobs, and foster entrepreneurship.
Provide education and resources to business owners seeking to expand their reach by establishing a physical presence.
