UHAB helps market units for sale in affordable, limited-equity co-ops.
Please check the listings regularly to find a co-op that fits your family’s income and household size. Due to volume, UHAB will not take phone inquiries on the status of apartment listings or applications.
Take the Free Homeownership Workshop
Attendance at UHAB’s Intro to Limited-Equity Co-ops Homeownership workshop will give you all the information you need to apply to purchase shares in an HDFC co-op (but will not guarantee you an HDFC co-op apartment). Attendance is NOT REQUIRED PRIOR to application submission.
Looking to sell an apartment in your HDFC?
What’s special about limited-equity cooperatives?
1. The purpose of a limited-equity co-op is to house low to moderate income people through collective ownership. There is a cap on resale prices, because ownership is designed to be permanently affordable.
2. There is a primary residency requirement in most limited equity co-ops, plus income restrictions on purchasers.
3. The co-op is a housing model whose purpose is “shelter” and not “commodity.”. The primary economic benefit of limited-equity co-op ownership comes while residents live in the co-op, not when they leave.
4. The co-op corporation owns the real estate. No shareholder-member owns real property; each shareholder-member owns stock in the co-op corporation with a proprietary lease that specifies the apartment in which they reside.
5. One vote per shareholder unit. All shareholders in good standing may vote and participate in the operation of their cooperative.
6. Corporate governance is by the Board of Directors. The Board is regularly elected by the shareholder-members. The Board chooses its officers; the shareholder-member owners do not choose the officers.
7. Shareholder-members have democratic control of the co-op. The Board serves the shareholder-member owners.
8. All common -area costs, corporate mortgage debt service, and all co-op expenses such as insurance, taxes, professional property management, capital repairs, co-op reserves, heat and common area electricity are shared.
9. Common charges / maintenance are assessed by the size of a unit, not a household’s income.