Social Housing Bill Poised for Breakthrough in City Council

"The Community Opportunity to Purchase Act (COPA) will give community land trusts and other community groups first dibs at buying distressed properties. Supporters expect it to pass with support from housing officials. It's been a long time coming. Over five years after it was first proposed, the Community Opportunity to Purchase Act (COPA) is expected to pass the City Council before the end of the year. The bill would give groups like community land trusts and tenant associations the first opportunity to bid on some apartment buildings when they go up for sale."

"COPA would be another tool in the toolkit for Mayor-elect Zohran Mamdani, who has made social housing-which looks to put more housing in the hands of the city and community groups, rather than the private market-a part of his platform. If passed, New York would join Washington, D.C. and San Francisco as cities with community opportunity to purchase laws on the books. Those policies have sometimes been criticized for disrupting an already complex housing market-criticisms echoed by COPA's opponents."

"Councilmember Sandy Nurse, the bill's sponsor, said the legislation is "a great opportunity to preserve more housing." "We need COPA because New Yorkers are leaving," she said. "People are just looking to have an affordable apartment and they can't compete. And so we want to give our community a chance to stay.""

COPA is poised to pass the City Council before year-end after more than five years since its initial proposal. The measure grants community land trusts, tenant associations and other community groups the first opportunity to bid on certain apartment buildings when they are put up for sale, targeting distressed properties to preserve affordability. Affordable housing advocates support the tool, while the real estate industry and some city housing officials have resisted. A negotiated deal has brought the Department of Housing Preservation and Development on board. If enacted, New York would join Washington, D.C. and San Francisco with such a law.

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