The first major entity to begin investing in farmland as an asset was Teachers Insurance and Annuity Association of America (TIAA)—one of the largest pension firms in the United States, with $1,375 billion in assets. In 2007, the TIAA began purchasing enormous tracts of land. By 2017, the TIAA owned more than 1.9 million acres of farmland worldwide— an area significantly larger than the state of Maryland—including over 490,000 acres in Brazil alone. TIAA’s purchases in Brazil led to the consolidation of power in the hands of a small number of agribusinesses specializing in soy monoculture, driving farmers off their traditional land in record numbers, and leading to widespread deforestation, wildfires, and loss of biodiversity.
“What it means for our community… it means a sense of hope,” said Cherry. “It’s a light in a very dark time, not just for our city, but even for our country. And its potential for our youth, to know that something besides a place like Walmart exists here—that’s big. Something to be proud about, to say we have a community farm, something we’ve worked for—to have that kind of light in Petersburg.”
The Agrarian Commons model, now in its implementation phase, is being studied by researchers, professors, and students throughout higher education and law school institutions.
America has always been a mix of cultural food traditions. We enjoy the freedom to explore taste and see the bounty of the many foodways, which allows us to be a part of the expansive American awareness. As cities become more culturally diverse, it is a chance for a renewed cultural fusion.
The state of Virginia has a resettlement program that makes space for this cultural interchange, facilitating new boundaries of cultural storytelling.
The Central Virginia Agrarian Commons (AC) is announcing its first land acquisition project. The Central VA AC needs to raise $145,000 through a fundraising campaign to acquire the 5.12-acre urban farm that sits right next door to an elementary school in Petersburg, Virginia. The Central VA AC is a collaboration between Agrarian Trust, Virginia Foodshed Capital, Virginia Cooperative Extension, Virginia Tech, the Petersburg Healthy Opportunities Project, Petersburg League of Urban Growers, and Sankofa Community Orchard to support urban food production and habitat diversity, and to counter high rates of food insecurity.