In 1936 the federal government built Greenbelt as one of three model greenbelt towns, carefully selected its tenants, and acted as landlord, but it had not planned for the community's future as an independent town. In 1946 residents formed the Greenbelt Mutual Housing Association to study whether they could buy the homes and surrounding green space from the government, but they could not secure financing. As the government moved to liquidate property quickly, planners persuaded the Public Housing Authority to sell entire towns as units to preserve their value as examples of community planning. In 1947 residents created the non-profit Greenbelt Mutual Home Ownership Corporation, which in 1949 became the Greenbelt Veteran Housing Corporation to comply with a federal law requiring that housing and land first be offered to a group of potential residents, half of them veterans. By 1950 the corporation had 1072 member families, including 531 veterans. The government offered all 1878 housing units, the commercial buildings, and 808 acres of undeveloped land for $8,971,200, and the corporation countered with an offer for 708 acres that excluded the apartment and commercial buildings for $6,995,669. In December 1952 the government sold the property to the Greenbelt Veteran Housing Corporation, while the apartment and commercial buildings went to six other private purchasers. The corporation then sold much of Greenbelt's land to developers, and the resulting sale became one of the town's most contentious moments because many tenants preferred renting to buying into the cooperative, causing many residents to leave. In May 1957 the corporation became Greenbelt Homes Incorporated, which now owns 1600 units, including all of the 1937 townhomes, 1000 more units built in 1941, and 250 acres of land. Members pay a monthly fee covering property taxes, trash pickup, and maintenance of electrical, plumbing, and structural needs, including roofing and hot water heaters. Another turbulent period came when aging housing required renovation and, after years of debate over sharply higher monthly fees, members agreed by 1979 to take out a large loan from the federal Department of Housing and Urban Development. Between 1980 and 1984, using a $17.5 million loan, Greenbelt Homes Incorporated replaced heating systems, upgraded wiring and insulation, replaced windows, and added siding to frame homes. In October 2003 members celebrated paying off the rehabilitation loan. Today the corporation maintains a special fund for ongoing repairs, and its ownership of nearly all of Greenbelt's historic homes has helped protect the city's historic core from further development while encouraging community participation and cohesiveness through member service on committees and the board of directors.
