by Felicia Mello/CalMatters
Luke Johnson and his neighbors thought they had found the perfect solution to avoid being displaced from their Silver Lake, Los Angeles fourplex: A state program was offering $500 million to help tenants, community land trusts and other affordable housing developers buy buildings at risk of foreclosure.
With their longtime landlords set on selling the building, Johnson and his neighbors persuaded them to sell to a community land trust that pledged to keep rents low.