UHAB Gives CDI Staff a Tour of NYC Co-ops – Cooperative Development Institute

On Friday, September 19, CDI staff Matt Meyer and Noémi Giszpenc joined experienced and new co-op developers at the Urban Homesteading Assistance Board for a tour of buildings in the Housing Development Fund Corporation program. UHAB provides consultation to boards and residents similar to what CDI’s NEROC program does, preparing and counseling residents on their ownership rights and responsibilities. What we saw in New York is that some issues are the same–such as maintaining volunteer capacity or balancing operating costs with long-term investment–while others are very specific to the policy environment–such as the subtleties of selling a resident share when profits are split between co-op and seller, as they are in limited-equity housing co-ops. We also saw that where residents own and control their housing, pride of ownership leads to multiple improvements and enhancements, from beautiful shared garden areas to security arrangements.

A little background: Since 1973 UHAB has assisted in the preservation of over 1,700 buildings and created homeownership opportunities for over 30,000 households. Today, New York City has the largest community of shared-equity housing co-ops in the country. (See more at http://uhab.org/history.)

Many thanks to UHAB for hosting this tour!

CDI Executive Director Noemi Giszpenc talking with board members from 60 Eldridge Street, which became an HDFC Co-op in 2009. The building's demographic reflects the cultural diversity and right history of the neighborhood, as there are both Chinese-American and Italian-American families living in its 12 residential units. — CDI Executive Director Noemi Giszpenc talking with board members from 60 Eldridge Street, which became an HDFC Co-op in 2009. The building’s demographic reflects the cultural diversity and right history of the neighborhood, as there are both Chinese-American and Italian-American families living in its 12 residential units.

The President of 611 West 156th St, which has been a co-op since 1992, hosted our group for lunch. She grew up and lived in the same apartment where she now resides and is an owner.

At 418 West 129th Street, a Board member showed us around this 20-unit co-op's renovated garden area. The two buildings on either side are also co-ops, and a friendly rivalry has developed to create the most pleasant environment for residents. — At 418 West 129th Street, a Board member showed us around this 20-unit co-op’s renovated garden area. The two buildings on either side are also co-ops, and a friendly rivalry has developed to create the most pleasant environment for residents.

UHAB Gives CDI Staff a Tour of NYC Co-ops