Tag: Limited equity cooperative
Versions of a law known as the Tenant Opportunity to Purchase Act are being proposed across the country—in places like New York, Massachusetts and California. Could giving tenants a first right of purchase further protect renters?
“We could use some gentrification here.” Let's never say this—we must refrain from debating the long-term likelihood of gentrification in distressed places.
How investments can be leveraged to ensure residents get to stay in their communities and reap the benefits of new amenities and increased accessibility.
When this limited-equity cooperative in California began more than 30 years ago, it wasn’t the most affordable place to live. But now the co-op’s monthly costs are 50 percent lower than the average market-rate apartment.
For Section 8 recipients, a step toward economic mobility (and community control) can be limited-equity cooperatives. A Section 8 voucher can be used to pay some of the monthly carrying costs of a co-op unit.
Federal programs and cultural attitudes that helped launch a majority of the large limited-equity co-ops across the nation are long gone, but at a smaller scale, this model of resident-controlled, long-term affordable housing may be experiencing new interest.