OWN IT: Residents Buy Their Building, Make A COOP, After Landlord Woes!

by | Aug 8, 2016 | News | 0 comments

Imagine your landlord is just doing doing their job. The tenants are without heating, he isn’t up keeping the building etc etc!

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So, you just all band together and buy him out, take matters into you own hands!

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Well, that’s exactly what happened for a group of residents in a Northwest D.C. apartment complex!

The landlord at 5751 Colorado Avenue NW had been leaving residents in a hell hole.

He may have been trying to drive them out so he could cash in on the building! BUT the residents, along with help from nonprofit Mi Casa managed to get loans to buy out the landlord. They then set to renovate the building and set about running it as a co-operative.

TenentsTakeBackBuilding

Now, 14 of the original 28 units are resettled with the old tenants and plans to fill applications for the remaining 14 units are underway!

An amazing story and showing the power of people when they bond together!

See more in the report below:

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