By the Numbers: Co‑ops in Pinellas County
-
9,203 co‑op‑owned, condo‑style apartment units
-
20 co‑op complexes currently occupied
-
1924 – year the first local co‑op opened (Flori De Leon Apartments, where Babe Ruth once stayed)
-
Nonprofit + market‑rate – some co‑ops are mission‑driven like Breezeway, others are fully speculative
What a Community Land Trust does
-
The land is held by a nonprofit trust, not by a private landlord or investor.
-
The trust signs a 99‑year ground lease so the land stays out of the speculation game for a century.
-
The buildings on top can change, but the mission for the land never does: permanent affordability and community benefit.
Why this matters for regular people
-
When land prices shoot up, rents and home prices follow.
-
By taking the land out of the market, we cut out the wild swings that push people out.
-
Instead of paying a landlord forever, members build stability in a community they help govern.
How Breezeway uses this model
-
Breezeway holds the land in trust and separates the land value from the home value.
-
The co‑op owns the buildings; members own shares, not deeds.
-
A limited‑equity formula keeps resale prices fair, so homes stay affordable for the next family after you, not just the first wave.
The bottom line
The land trust model turns housing from a speculative product into a community asset. It keeps people rooted, keeps costs predictable, and makes sure the neighborhood serves the people who live there—not distant investors.