What is amalgamated housing...does it exist in NYC? (Cortland: apartment complexes, co-op)

[danabbw67]

I'm unfamiliar with the 'concept' of amalgamated housing but it heard exists somewhere in the Bronx. What is it, like Mitchell Lama?

Thanks!

[bmwguydc]

Amalgamated Housing is a concept that was created by the Amalgamated Clothing Workers of America and was the first limited-equity cooperative developed in the United States. It was designed and remains an affordable cooperative ownership for moderate incomes, not unlike Mitchell-Lama, but it's the forrunner of all such concepts and was created by the union in the 1920s. Amalgamated is located on Van Cortlandt Park South in the Bronx.

Here's a link to their website with contact information:
Amalgamated Housing - Contact Us

[danabbw67]

Originally Posted by bmwguydc

Amalgamated Housing is a concept that was created by the Amalgamated Clothing Workers of America and was the first limited-equity cooperative developed in the United States. It was designed and remains an affordable cooperative ownership for moderate incomes, not unlike Mitchell-Lama, but it's the forrunner of all such concepts and was created by the union in the 1920s. Amalgamated is located on Van Cortlandt Park South in the Bronx.

Here's a link to their website with contact information:
Amalgamated Housing - Contact Us

This is VERY helpful! Thanks so much for the information!

Dana

[bmwguydc]

You're welcome. It's a nice community, from what I have heard about it, and when parts of the area went through a decline in the 70s and 80s, this community actually anchored the area, and has remained an integral part of the surrounding neighborhood.

[SeventhFloor]

what about amalgamated warbasse houses in coney island....they're part of that too, correct?

[Fred314X]

And isn't one of the apartment complexes on the Lower East Side, somewhere around Grand Street, amalgamated as well?

[bmwguydc]

Yes, Warbasse is also Amalgamated, and that development came about 30 years after the original in the Bronx with particupation from the United Housing Foundation.

Cooperative Village on the Lower East Side also has some Amalgamated Housing, though the development was a joint venture with participation from Amalgamated, the ILGWU, and United Housing Foundation. They are all Rochdale cooperatives and are located around Grand Street.

[Songbird42]

At the Amalgamated Housing in Van Cortlandt Village there is a four to five year wait list for a one bedroom apt. Two bedrooms there is a 5 to 7 year wait. Once people get in there someone literally has to die, before a unit comes up. Maintence is going from $750 to $1,100 a month without parking, parking has a wait list of 5 yrs. @ $200.00 a month, all maintence will be going up Jan. 2009.

[Pete Piper]

So is it similiar to Co-op city with very low prices but you don't make a profit when you sell?

[bmwguydc]

Originally Posted by Pete Piper

So is it similiar to Co-op city with very low prices but you don't make a profit when you sell?

Exactly, they are limited-equity cooperatives, whereby you are a shareholder, but the operating principles are geared towards sustaining affordable housing and the shares are not sold at market rates upon resale. Resales go through the board's management company, not throgh outside salespeople.