Opinion: To keep our neighborhoods affordable, we need the Community Opportunity to Purchase Act

From the North Bronx to Southeast Queens, our communities are confronting a deepening housing crisis marked by rising costs, displacement and speculation. As New York City Council members representing districts that have long been anchors of affordability for homeowners and tenants, we are co-sponsoring the Community Opportunity to Purchase Act (COPA) to tackle these challenges head on.

COPA, introduced by our colleague Council Member Sandy Nurse, gives mission-driven nonprofits like community land trusts and community development corporations a first chance to buy multifamily buildings when landlords sell. Modeled on successful laws in Washington, D.C. and San Francisco, COPA would curb speculation and give local nonprofits a powerful new tool to expand permanently affordable, commun