Victory, at last. That’s what the folks at Norwood Cooperative are saying. After years of organizing and millions in loans from the government, the Norwood tenants have finally purchased their building at 1417 N Street NW and have turned it into an affordable housing cooperative. The October 22 celebration, Huffington Post reported, included Mayan and Guatemalan fun throughout the day.
During a decade when housing for the non-upper middle class has become increasingly scarce in the neighborhood, the Norwood was an exception. The Capital Manor Cooperative on the 1400 block of W Street NW is another example of tenants being able to buy their building and turn it into an affordable housing co-op.
When one thinks of co-op buildings, it’s usually New York City that comes to mind. But there are more than 15,000 co-op housing units in the DC area, most in the city, according to the DC Cooperative Housing Coalition.
It is important to note that their are two types of housing co-ops: those that are market-rate and those that come under income limitations for the purchasers. For example, the Capital Manor buildings are in the affordable housing category while The Chastleton at 16th and R NW is in the market-rate category. There are several other affordable housing co-op buildings in the Dupont-Logan area, according to the National Cooperative Business Association.