MINNEAPOLIS, Minn. (2026) — In South Minneapolis, a group of tenants facing eviction and unsafe living conditions are now owners, reshaping what is possible for community control and long-term housing stability.
The Corcoran Five project began in 2017, when 49 families living across five apartment buildings organized in response to unsafe conditions and the loss of their landlord’s rental license. For years, tenants faced deferred maintenance, instability, and the threat of displacement. Rather than leave, they organized.
Working alongside Inquilinxs Unidxs por Justicia (IX), residents built a collective voice and began exploring what it would take to stay in their homes, not as renters, but as owners.
In 2020, Land Bank Twin Cities stepped in to acquire all five properties for $4.85 million, stabilizing the buildings and preventing displacement at a critical moment.
The intervention created time.
Instead of continuing as traditional rental housing, the properties became the foundation for a new ownership model. Land Bank provided property stewardship, coordinated improvements, and supported day-to-day management while residents focused on organizing, governance, and building a cooperative structure.
“This is exactly the kind of work Land Bank Twin Cities was built to do,” said Aarica Coleman, President and CEO. “We step in at critical moments to stabilize properties and create time for partners to build the right solution. In this case, that meant supporting residents as they moved from tenants to owners and created something that will last.”
That work was matched by tenant action. Residents were on the right side of a legal settlement, one of the largest tenant victories in Minneapolis history, and used some of those resources to establish Sky Without Limits Cooperative.
“Land Bank Twin Cities played an instrumental role in realizing this dream,” said Chloe Jackson, Board Member, Sky Without Limits “They purchased the buildings, supported management and renovations, and created the time we needed to raise funds and ultimately buy the homes we proudly own today.”
In May 2025, the cooperative successfully purchased four of the five buildings. The final property is expected to transfer in 2026, completing the transition to full community ownership.
The Corcoran Five represents one of the first large-scale tenant-to-owner conversions in Minneapolis. It preserves naturally occurring affordable housing while shifting control to residents and establishing long-term stability.
This project reflects Land Bank Twin Cities’ role in acquiring at-risk properties, stabilizing them, and holding them long enough for community-driven solutions to take shape. It also demonstrates a replicable model, one where strategic acquisition, patient capital, and tenant leadership come together to reverse displacement and create lasting ownership.
49 families.
5 buildings.
A permanent shift from displacement to ownership.
IN THE NEWS
The tenants who evicted their landlord
National coverage highlights the Corcoran Five as a groundbreaking example of tenant organizing and collective action to reclaim housing.
Minneapolis tenants win $18.5M settlement against landlord
Local reporting details the legal victory that created a financial pathway for residents to pursue ownership.
