Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
The power of equity : private motivations and public implications of dissolving affordable housing cooperatives
Thesis: M.C.P., Massachusetts Institute of Technology, Department of Urban Studies and Planning, 2018. ; This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. ; Cataloged from student-submitted PDF version of thesis. ; Includes bibliographical references (pages 218-221). ; 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 ...
The power of equity : private motivations and public implications of dissolving affordable housing cooperatives
Thesis: M.C.P., Massachusetts Institute of Technology, Department of Urban Studies and Planning, 2018. ; This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. ; Cataloged from student-submitted PDF version of thesis. ; Includes bibliographical references (pages 218-221). ; 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 ...
The power of equity : private motivations and public implications of dissolving affordable housing cooperatives
01.01.2018
1054182148
Hochschulschrift
Elektronische Ressource
Englisch
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