Glossary of Terms

Aging in Place
A housing arrangement in which a property enters the Artist Housing Commons while the current resident remains in the home for as long as they choose. Aging in Place may be established at the outset or evolve from a bequest relationship as life circumstances change.

AST Artist Housing Commons (AST Commons)
A growing, distributed network of homes and live/work spaces held outside the for-profit real estate market and stewarded by Artist Space Trust for artists and culture bearers across the Bay Area. The commons is not a single site or development, but a portfolio of housing grounded in permanence, affordability, stewardship, and collective care. Multiple housing models may be used to steward the commons over time.

Bequest
A transfer of real property to Artist Space Trust through an individual’s estate planning process. Bequests may occur at the end of life or be structured in advance and are a primary early mechanism for seeding the Artist Housing Commons.

Commons
Housing held, cared for, and stewarded collectively for long-term public benefit, rather than owned or traded within the for-profit real estate market. In this plan, “commons” refers to both a real estate strategy and a stewardship framework focused on permanence, shared responsibility, and intergenerational impact.

Community Land Trust (CLT)
A nonprofit housing model in which land is held in trust to ensure permanent affordability, while homes may be owned or rented by residents. The CLT model is a primary tool used by Artist Space Trust to steward the Artist Housing Commons, though it is not the only model employed.

Co-Stewards/Stewardship
Artists and culture bearers who live in housing within the AST Artist Housing Commons and participate in its care, continuity, and long-term success. Co-stewardship reflects a balance between individual self-determination and collective responsibility.

Distributed Portfolio
A real estate portfolio composed of multiple properties across different locations rather than a single concentrated site. A distributed portfolio reduces risk concentration and supports learning, flexibility, and long-term resilience.

Donated Property
A property transferred to Artist Space Trust during the owner’s lifetime without a purchase transaction. Donated properties may enter the commons immediately or be paired with Aging in Place arrangements.

For-Profit Real Estate Market
The conventional real estate market in which property is bought, sold, and traded primarily for financial return. Housing within the Artist Housing Commons is intentionally held outside this market to preserve long-term affordability.

Homeownership Within the AST Commons
A housing pathway in which artists purchase homes stewarded within the Artist Housing Commons under permanent affordability protections. This model supports long-term housing stability and equity-building while ensuring homes remain available to future artists.

Housing Stewardship
Housing stewardship refers to the responsible, long-term management of residential assets to ensure they remain affordable, safe, and functional for current and future residents. It often involves an organizational commitment to protecting housing from market pressures through ongoing oversight, maintenance, and the preservation of affordability covenants.

Live/Work Complexes or Warehouses
Purpose-built or legacy buildings designed specifically for combined residential and creative use, often involving higher capital, regulatory, and operational complexity. These represent a distinct real estate typology evaluated separately within AST’s portfolio strategy.

Live/Work Housing
Housing that supports both residential living and creative or income-generating work. In the Bay Area context, most artist housing functions as a live/work space out of necessity, even when not purpose-built.

Mortgage
A mortgage is a type of loan used to finance the purchase of real estate, with the property itself serving as collateral. The borrower agrees to repay the loan amount, plus interest, over a set period, and if they default, the lender has the legal right to foreclose on the property to recover their money.

Portfolio Strategy
An approach to real estate stewardship that evaluates individual properties as part of a larger, interconnected portfolio. Portfolio strategy prioritizes balance, sequencing, risk management, and long-term sustainability over single-project optimization.

Rental Housing
Housing held within the Artist Housing Commons and leased to artists and culture bearers. Rental housing may be owned directly by AST, master-leased, or stewarded through partnerships, and is introduced as stewardship capacity grows.

Stewardship Capacity
The organizational ability to responsibly care for housing assets over time, including staffing, systems, financial reserves, compliance, and resident support. Stewardship capacity is treated as core infrastructure rather than overhead.