Advancing Equity and Economic Opportunity through Community Ownership Models in Greater New Orleans
The Greater New Orleans Funders Network’s (GNOFN) Equitable Development Action Table recently held the second in a series of learning sessions focused on innovative models of community ownership as tools for wealth-building, economic mobility and anti-displacement in New Orleans. This session, part of a larger series that will continue in 2025, brought together both local and national leaders to explore how low-wealth communities of color and marginalized populations can benefit from inclusive economic strategies and sustainable development.
Despite post-Hurricane Katrina redevelopment investments and economic growth in the Greater New Orleans region, gains have not reached all communities equally. Low-income residents and communities of color face disproportionate barriers, such as rising rents, stagnant wages, inadequate public transit, and limited access to emerging job markets. These realities underscore the need for cross-sector approaches that address housing, transportation, and workforce development to support economic mobility and prevent displacement.
The Equitable Development Action Table at GNOFN is designed to tackle these systemic inequities. Its work spans community and economic development strategies, including strategies to build community wealth, reduce disparity and displacement, increase economic inclusion and opportunity for future mobility. With a commitment to economic inclusion, the Action Table brings together funders, practitioners, and community voices to reimagine how public investment and policies can catalyze opportunity for marginalized communities in Greater New Orleans.
This recent session highlighted community ownership models, which are emerging as powerful strategies to build wealth within communities and curb displacement. The session aimed to deepen the understanding amongst peers in New Orleans of community ownership as a wealth-building tool rather than framing it as a “the best” approach for New Orleans, and presented a range of community ownership models to inspire future investment and collaboration among funders.
Lamar Garere from The Data Center opened the session with an overview of the local economic landscape and the longstanding racial wealth gap. The data show how the lack of wealth-building opportunities for communities of color and the persistent disparities within wages and small business receipts fuel the urgency for models like community ownership, which offer an innovative and alternative approach to economic justice and empowerment.
Trust Neighborhoods, represented by Kavya Shankar, shared their work deploying mixed-income neighborhood trusts (MINTs) in cities like Kansas City, MO; Tulsa, OK; Boston, MA; Fresno, CA; and Denver, CO. These trusts are designed to retain community control over housing and commercial assets, building local wealth and preserving affordable housing. Mercy Corps, represented by Olena Borova, presented their community ownership initiatives aimed at empowering local residents through cooperative ownership structures and other models to combat gentrification and displacement.
The session underscored GNOFN’s mission to inspire and optimize philanthropic investment in Southeast Louisiana to foster equity and increase justice. With continued dialogue, learning, and collaboration, GNOFN and its partners are committed to advancing economic opportunity and ensuring that the benefits of regional development are equitably shared.
This article is co-authored by Victoria Adams Phipps, Vice President of Global Philanthropy at JPMorganChase and Kevin Gray, Program Officer, American Cities Program at The Kresge Foundation. Together, Victoria and Kevin lead GNOFN’s Equitable Development Action Table.
