February 3, 2026
City Council
DATE: February 3, 2026
TO: Mayor Martinez and Members of the City Council
FROM:
Councilmember Soheila Bana
Subject:
Presentation from Sustainable Economies Law Center
regarding corporate land grab practices
FINANCIAL IMPACT: The presentation will not have a financial impact but City Attorney staff time will be spent researching the legal issues associated with this item.
PREVIOUS COUNCIL
ACTION:
None
STATEMENT OF THE
ISSUE:
Housing stability is a foundational condition for
community health, racial equity, and economic security in the City of Richmond. In recent years, the increased
acquisition of single-family and small-scale residential properties by corporate and institutional investors has reduced opportunities for homeownership, increased
displacement pressures, and contributed to rising
housing costs.
RECOMMENDED ACTION:
RECEIVE a presentation by the Sustainable Economies
Law Center regarding corporate land grabs and DIRECT
the City Attorney’s Office to evaluate the legal risks
associated with enacting legislation to ban corporate land grab practices in Richmond - Councilmember Soheila
Bana (510-672-5242).
AGENDA
REPORT
February 3, 2026
DISCUSSION:
Richmond has long articulated a commitment to housing as a human right and has adopted policies aimed at tenant protections, anti-displacement measures, and community stability. In some areas throughout the country, speculative investment in residential real estate—particularly by large corporate entities and absentee owners— continues to exacerbate housing insecurity and undermine community control of land.
Municipalities across the country are exploring regulatory approaches to curb speculative land acquisition and prioritize resident, nonprofit, cooperative, and community-centered ownership models. The purported rationale behind this movement is that bulk acquisition of homes by investment entities is associated with higher rents, reduced maintenance, increased evictions, and diminished pathways to intergenerational wealth for working-class households and communities of color
DOCUMENTS ATTACHED:
None.