Converting Public Housing to Individual and Cooperative Ownership PDF Download
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Author: Emanuel Jay Howenstine
Publisher:
ISBN:
Category : Condominiums
Languages : en
Pages : 114
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Author: Emanuel Jay Howenstine
Publisher:
ISBN:
Category : Condominiums
Languages : en
Pages : 114
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Book Description
Author: Allegheny Council to Improve Our Neighborhoods-Housing
Publisher:
ISBN:
Category : Housing policy
Languages : en
Pages : 64
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Book Description
Author: Robert Kolodny
Publisher:
ISBN:
Category : Buildings
Languages : en
Pages : 112
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Author: US Department of Housing and Urban Devel
Publisher:
ISBN: 9780894990908
Category : Apartment houses, Cooperative
Languages : en
Pages : 0
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Book Description
This landmark national study of the extent and impact of condominium and cooperative conversions promises to be of major policy and program significance. The recent growth of condominium and cooperative conversions is a response to basic changes in the Nations social and housing market conditions which, in its course, helps some and hurts others. For this reason, conversion has sparked considerable controversy --a controversy exacerbated by the shortage of information about what is taking place. This report, prepared in response to a Congressional directive, presents the results of a multi-faceted study designed to provide this information. It documents the present and probable future extent and location of conversions, the factors contributing to their increasing numbers, and their effects-- on people, neighborhoods, and communities. As will be apparent, the scope, causes, and consequences of the conversion phenomenon are, in many ways, quite different than is generally understood.Conversion changes the legal form of a multi-family rental property from single ownership by a landlord to multiple ownership. In most condominium conversions, the landlord first sells the property to a developer specializing in conversion who then sells the individual units. Most conversions are accompanied by some minor or cosmetic improvements to the propertys condition, equipment, or amenities; however, a few conversions have involved the substantial rehabilitation of older buildings.
Author: United States. Federal Home Loan Bank Board. Office of Community Investment
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 20
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Author: Stuart Charles Goldberg
Publisher:
ISBN: 9780932418043
Category : Apartment houses, Cooperative
Languages : en
Pages : 296
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Author:
Publisher:
ISBN:
Category : Apartment houses, Cooperative
Languages : en
Pages : 188
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Author:
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 120
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Author: Jonathan Tarleton
Publisher:
ISBN:
Category :
Languages : en
Pages : 221
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Book Description
From 1955 to 1978, New York City and state subsidized the construction of over 67,000 middle-income, limited-equity cooperatives in the city through Mitchell-Lama -- a program often considered one of the most successful efforts to produce affordable housing in American history. By restricting the resale of shares and removing the housing from the open market, limited-equity co-ops allow for the long-term maintenance of housing affordability and make the benefits of homeownership accessible to lower-income individuals than those served by stereotypical homeownership. While most Mitchell-Lama co-ops endure as affordable housing, dramatic increases in housing values in New York City increasingly incentivize cooperators to remove the restriction on the sale of their shares through a collective vote. Through qualitative interviews and advocacy material reviews at two case cooperatives -- South bridge Towers in Manhattan's Financial District and St. James Towers in Clinton Hill, Brooklyn -- this research identifies factors that influence limited-equity cooperators' ultimate decision to vote to remain in the Mitchell-Lama program or to convert to a market-rate cooperative. In doing so, I interrogate what leads individuals to prioritize (or not) collective benefits over individual ones. In addition to considering how cooperators develop a feeling of entitlement to profit realized from publicly subsidized housing or a sense of obligation to future potential recipients of this source of affordable housing, I describe the role that cooperators' understanding of ownership, their experience of internal governance and government supervision, and their perspectives on race and class play in their decision on conversion. Drawing from the factors identified and outcomes observed in the two case cooperatives, I recommend strategies to preserve Mitchell-Lama cooperatives as affordable housing for cooperators, public officials, and advocates. Given the observed irrelevance of existing financial incentives offered by government to cooperatives to remain in Mitchell-Lama, I pay specific attention to non-financial approaches that address the varied social processes inherent in these explosive debates about who should benefit from public subsidy and to whom the value of housing should accrue.
Author: Allan David Heskin
Publisher:
ISBN:
Category : Housing, Cooperative
Languages : en
Pages : 324
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Book Description
