Wherever in New York City you live, I bet you can picture an apartment building that fits one of these two descriptions: a multi-family rental property that has passed from absentee landlord to absentee landlord, falling deeper into disrepair as its tenants suffer through cold winters, broken elevators, and leaky roofs; or, a once-affordable development where the subsidies expired and the building was sold to a new landlord as market-rate rentals, only for a great many long-term tenants to be displaced.<\/p>\n
For decades, New York City has allowed these twin problems of distressed property flipping and expiring affordability to fester\u2014in Harlem, in Washington Heights, and across communities of color throughout this city.\u00a0 It is time for New York City\u2019s elected leaders to stand up and proclaim: enough!<\/p>\n
Next week, on September 9th, the City Council will hold a hearing on a bill that would address these twin problems and give reputable operators a chance to intervene.\u00a0<\/p>\n
The Community Opportunity to Purchase Act<\/a>, or COPA, is sponsored by Councilmember Sandy Nurse of East New York, Brownsville, and Bushwick, a well-known champion for tenants and Community Land Trusts. Modelled on similar bills<\/a> in San Francisco, San Diego, Philadelphia, Baltimore, and Washington, D.C., New York City\u2019s COPA<\/a> would give a list<\/a> of government-vetted qualified entities\u2014including community-based nonprofit affordable housing developers, as well as a great many minority- and women-owned businesses\u2014the first chance to buy troubled properties when they come up for sale.\u00a0<\/p>\n Funding for such acquisitions can come from already-existing New York City programs, like Neighborhood Pillars, a de Blasio-era effort that tenant and community organizations fought to revive<\/a> in the 2025 budget. Once the new owners purchase a building through COPA, they would be eligible for grants, low-interest loans, and technical assistance from the city to bring the buildings up to code and preserve them as affordable rentals or limited-equity cooperatives. This law could help pave the pathway to social housing in New York<\/a>, turning perennially troubled rentals into safe, affordable homes for long-term New Yorkers and new immigrants alike.<\/p>\n Contrary to some critics\u2019 allegations, COPA would not affect small homeowners or parents passing properties on to their children. The bill explicitly excludes owner-occupied buildings with less than six apartments, like the one my parents owned and I grew up in<\/a>, and it does not cover transfers between family members, as when a parent passes a property on to their child. It also includes a carve out for sales that need to happen quickly in order for owners to avoid financial hardship. The bill only applies to properties in the greatest distress and those with expiring affordability arrangements, such as buildings built with Low-Income Housing Tax Credits that\u2014without further intervention\u2014expire after a period of time.<\/p>\n COPA puts a circuit breaker into a real estate system which has long enabled crumbling buildings to change hands behind anonymous Limited Liability Corporations and has allowed once-affordable buildings to surge to sky-high market rates<\/a>.<\/p>\n If readers are feeling a bit of d\u00e9j\u00e0 vu, that sensation is justified. Last year the City Council did, in fact, pass COPA<\/a> alongside a slew of other housing bills, but, in a frenzy of largely destructive final actions, Mayor Adams vetoed COPA<\/a> on his way out the door. Now the City Council has a chance to bring the bill back to the floor and send it to Mayor Mamdani, who has signaled his support for the legislation by including it in his administration\u2019s housing plan, Block By Block<\/a>.<\/p>\n If the Council passes COPA and the mayor signs it into law, the effects could be transformative for New York City.\u00a0<\/p>\n If you have lived in your neighborhood for some years, you can readily envision the impact a bill like COPA could have made if it were in place years ago. Take a moment to imagine all the buildings in your neighborhood that have fallen into disrepair and been subject to frequent flipping, and the buildings where affordability protections were allowed to lapse. Remember all the people who used to live there but were since displaced by either formal evictions, informal harassment, or the endless grind of substandard conditions.<\/p>\n Now picture a world where we passed legislation like COPA many years back. How many of those buildings would now be thriving and affordable? How many of those long-lost neighbors might still be vibrant parts of your community?<\/p>\n It may be too late to bring them all back home, but this year the City Council has a chance to make sure this story does not keep repeating into the future. Instead of allowing buildings to flip or rents to surge, New York can preserve affordability and promote community ownership. Our communities cannot afford to let this opportunity slip away again.<\/p>\n Editor\u2019s Note: This article was originally published in the New York Daily News.<\/p>\n David R. Jones, Esq., is President and CEO of the Community Service Society (CSS), New York\u2019s leading advocate for low-income New Yorkers for more than 175 years. The views expressed in this column are solely those of the author. The Urban Agenda is available on the CSS website at www.cssny.org<\/p>\n \n\tRelated<\/p>\n","protected":false},"excerpt":{"rendered":"Wherever in New York City you live, I bet you can picture an apartment building that fits one…\n","protected":false},"author":2,"featured_media":337068,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[128,9,24,63,129,131,130],"class_list":["post-337067","post","type-post","status-publish","format-standard","has-post-thumbnail","category-the-bronx","tag-bronx","tag-new-york","tag-new-york-city","tag-nyc","tag-the-bronx","tag-the-bronx-headlines","tag-the-bronx-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/337067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=337067"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/337067\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/337068"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=337067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=337067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=337067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}