John W. Haines and his team at Community Investment Trust (CIT) are democratizing real estate investment by creating a groundbreaking model that enables local residents to invest in and co-own commercial properties in their neighborhoods.
Traditionally, commercial real estate investments have been reserved for wealthy, accredited investors—those who meet specific financial criteria, such as having a net worth of at least $1 million or earning an annual income of $200,000 or more. These barriers prevent many from participating in real estate ownership.
The inspiration for the CIT model came from Haines’s time leading a CDFI that delivered Individual Development Accounts (IDAs) funded by the State of Oregon. While he found this work meaningful, Haines saw that subsidized savings matches alone were not enough to enable people to create lasting wealth. He also recognized that homeownership—the traditional path to wealth-building—was out of reach for many. This realization led to the creation of a new investment framework that enables communities that have been historically excluded from traditional wealth-building opportunities to co-own development projects in their neighborhoods.
The first CIT pilot launched in 2017 in Portland, Oregon after several years of design, vetting and searching for a property . Haines raised impact investment capital to purchase a commercial building in a low-income neighborhood. Stock in the project is now available only to residents of the surrounding zip codes, who learn about the opportunity through word of mouth or peer-led budgeting and investing classes designed by CIT, called Moving from Owing to Owning. Each year, investors receive dividends that have averaged 7%. Share values have grown in seven years from $10 per share to over $20, demonstrating both financial and community returns. Each year, investors can resubscribe at a new share price, further growing their stake in the property, or cash out their investment to meet personal financial goals.
To purchase buildings, CIT and local teams replicating the model raise impact investments to cover the down payment. They then sell shares through a state-registered stock offering to the community, ensuring local ownership and wealth-building. The use of a direct pay letter of credit from a bank further shields investors from some of the risks associated with commercial real estate, making this model particularly powerful for first-time investors.
The success of CIT’s model not only grows the wealth of its investors but also fosters a sense of belonging, community ownership, and civic participation.
“Our investors in Portland started voting when they didn’t vote before,” said Haines. “Why? Because they are owners in their community. Their investment gives them a voice far beyond their front door, and that return on investment just sweetens the impact.”
CIT’s impact is expanding beyond Portland. From Lansing, Michigan to Charlottesville, Virginia, and Salt Lake City, Utah, Haines and his team are actively supporting local organizations to build and lead CITs in multiple cities, with a goal of reaching 50-100 communities. Local leaders and residents co-design CIT investment plans to reflect their community’s unique vision and priorities. The CIT team provides “backbone” technical support, while fostering a community of practice for network sharing, learning, and acceleration. Rather than a one-size-fits-all model, each project reflects local aspirations, transforming key properties into hubs for businesses, services, and nonprofits that strengthen the neighborhood. CIT provides mentorship, coaching, and implementation support to ensure long-term success.
“It’s important that each community feels like their project is theirs, and each looks different to reflect that,” says Haines. “They’ve designed it with their communities, whose low-income investors will own it. We serve as backbone support and community of practice for replicators nationally, providing initial and ongoing glue that connects them.”
By rethinking the structure of real estate investment, CIT is reshaping economic opportunity and demonstrating that wealth-building can be a powerful tool for strengthening entire communities, not just a select few.