Co-op City - 99% Invisible

"Co-op City is a unique housing model where residents buy shares in a corporation, allowing them to live affordably without traditional ownership. This cooperative approach was designed to empower ordinary people, providing them with the ability to renovate their apartments as they see fit."

"Abraham Kazan, a Russian immigrant and socialist, envisioned a cooperative housing model to help workers escape the grip of predatory landlords. His efforts led to the establishment of Co-op City, which has become a symbol of affordable housing for the working class."

Co-op City, located just past the Bronx border, is the largest housing cooperative globally, featuring thirty-five identical high-rises. Residents purchase shares in a corporation instead of owning their units outright, paying monthly fees that cover mortgage and utilities. The concept originated from Abraham Kazan, who aimed to provide collective ownership for workers, eliminating predatory landlords. The development gained momentum post-World War II, aided by federal funding and the Mitchell-Lama program, which supported middle-class housing initiatives.

Read at 99% Invisible