Liberty Living Tackles the Issue of Affordable Housing in New York City
Business 383 – Social Entrepreneurship – Final Paper
Limited Equity Cooperatives by “Liberty Living”
The phrases “living paycheck to paycheck” and “struggling to live on welfare” are much
too prevalent in today’s society.
So much so that hearing these phrases doesn’t stir up emotion
and make people proactive, but rather gets put by the wayside.
This is to be expected though,
when a seemingly unsolvable problem continues to be passed around without any concrete
After all, how can one solve “poverty”, and make it so every person has an affordable
place to live?
It is impossible, however there are steps that can be taken to ease the stress of
peoples’ lives, and with that I, on behalf of “Liberty Living” present to you, limited equity
In short, limited equity cooperatives are a form of shared ownership housing.
elaborate, members living in this “community” will all have certain responsibilities, and work
together to maintain the infrastructure as an entirety.
Rather than owning an apartment, or a
house, the members of this cooperative own a share of stock, and therefore they are essentially
leasing the living accommodations for any length of time.
When the stock owner wishes to
move out, they are able to sell their stock to a new owner.
In essence, the limited equity
cooperative acts as a separate community, and helps serve the needs of a wide array of people.
In writing, the concept of a separate, affordable community living establishment seems
too good to be realistic; and if they exist, why haven’t more been established?
Therein lies the
issue – establishment.
Establishing a limited equity cooperative takes great funding, appropriate
space, and functional establishments to even begin to the process of creating a new community.
Along with those monetary and space issues, is the boundary of knowledge.
With that, I mean
that the limited equity cooperative concept (and I call it a “concept”, for they are not yet
widespread) is not yet well known to the public, and skepticism and a lack of interest can