Housing Cooperatives Fact Sheet
What is MAHC and why is it important?
MAHC is a not-for-profit “Section 501(c)(4)“organization which seeks membership from ALL branches of the housing cooperative world, such as high-end market-rate cooperatives like 1010 Memorial Drive, other market rate cooperatives like The Kenmore Tower and Jamaicaway Tower, and artists’ and limited equity cooperatives. The 501(c)(4) designation allows MAHC to engage in political advocacy.
MAHC seeks to broaden the awareness of cooperatives among all our varied stake-holders in Massachusetts. MAHC will provide information and services to current housing cooperatives and make the entire community aware of the benefits of this underappreciated form of housing.
What are coops?
Coops are corporations in which owners have shares which translate into apartments. Each coop is governed by an elected Board. Coops are a successful, venerable and established form of housing.
Who lives in coops?
Many different kinds of people. Coops are often dedicated to a common purpose.There are high-end and other market-rate cooperatives, artists’ cooperatives, limited equity and affordable cooperatives, religious and ethnic coops, veterans’ coops, coops for the elderly and the disabled, college students and people of varied origins or orientations.
How many coops are there?
MAHC has built a database of well over a hundred in Massachusetts from large (many hundreds of apartments) to converted houses.
Where are they?
They span the Commonwealth from the Berkshires to the Islands, in cities, towns and rural areas. Coops can be found in dozens of MA communities. They can look like every other kind of multiple dwelling housing, and fit into every kind of neighborhood.
How many people live in coops?
Thousands live in cooperatives and they represent the full age range of the population of the Commonwealth.
What are their advantages?
Coops are proven to require less regulation than condos. Coops generate less litigation. Coop organization and governance are simple, direct and democratic. They also generate revenue to the community and stability and cohesion.
How much value do coops represent?
Hundreds of millions of dollars in real estate and taxes
Hundreds of acres of land
Hundreds of buildings
Millions of dollars in goods and services purchased annually
In conclusion, coops provide incalculable community and social benefits to residents and the community as a whole, and fully deserve initiatives and actions toprotect and enhance their viability.