We're Finally Getting the Affordable Housing Bill That Eric Adams Tried to Kill
The City Council has passed the Community Opportunity to Purchase Act, a bill granting housing nonprofits first refusal on the sales of over 2,000 apartment buildings to preserve affordable housing.
The New York City Council passed the Community Opportunity to Purchase Act (COPA) on Thursday. The legislation allows housing nonprofits a right of first refusal when large apartment buildings that are in severe disrepair or financial arrears go up for sale. This version of the law specifically targets approximately 2,100 buildings across the city.
This marks a shift in city policy following the veto of a similar bill by former Mayor Eric Adams last year. Mayor Zohran Mamdani has expressed his intention to sign the current bill into law. Supporters believe the measure will help community housing groups compete with private developers to maintain long-term affordability for residents.
Summary by Dispatch AI — read the full story at Hellgatenyc.
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