Vol 1 / Ch 3: If you can dream it, a CLT can do it

What is a CLT good for other than homeownership?

Quite a bit! We look at missed opportunities for preservation of affordable housing, including housing cooperatives, Tenant Option to Purchase Act in Washington, DC (a law that requires landlords to offer to sell an apartment building to tenants before they can sell it to anyone else), and some forgotten HUD programs that were discontinued decades ago but are only now wrapping up. And, we hear the dramatic story behind the first CLT rental and rent-to-own housing, in Albany, NY. Any type of housing, any type of tenure: a CLT can make a great affordable housing program even better by ensuring real estate is forever reserved as affordable housing.

 

Cover image: The Dakota (center) and San Remo (right) housing cooperatives in New York City. Flickr / Bonnie Natko

 

 

 

Sources used in this episode:

  • https://www.architecturaldigest.com/story/dakota-apartment-building
  • https://ny.curbed.com/2017/4/20/15374640/demi-moore-san-remo-penthouse-sold
  • https://www.zillow.com/b/the-majestic-new-york-ny-8Jk9/
  • https://www.cityrealty.com/nyc/market-insight/features/get-to-know/nyc039s-top-10-most-prestigious-co-ops-availabilities-inside-them/19606
  • https://www.cityrealty.com/buildings/top-ten/top-10-most-prestigious-co-ops-west-side/12
  • https://www.cityrealty.com/buildings/top-ten/top-10-most-prestigious-co-ops-east-side/2
  • https://academicworks.cuny.edu/gc_etds/1937
  • http://www.cltroots.org/profiles/albany-community-land-trust
  • https://www.everycrsreport.com/reports/R41182.html

Programming note: The financial assistance component of TOPA has gone by different names. For clarity, I use only one name, FRP.