Kingdom housing community stability and home ownership innovation.
Real Impact.
The Helping Hands Ministry & Randolph Ferdinand Christian Community Center. d/b/a Kingdom Community Housing.
The Kingdom vision to Convert NYC Rent-Stabilized units / buildings to Affordable Income-Restricted Condominium / or Resident Cooperative Ownership and facilitate wealth building and equity ownership for low-to-moderate income households, breaking the cycle of perpetual renting.
This strategy for converting existing rent-stabilized apartment buildings in New York City into affordable income-restricted condominiums or cooperatives create sustainable and affordable homeownership opportunities for low-to-moderate income residents of New York City by strategically converting rent-stabilized buildings into income-restricted condominiums or cooperatives
This initiative will leverage existing affordable housing resources , innovative financing models, and community partnerships to acquire and rehabilitate rent-stabilized buildings, offering current tenants and income-qualified new buyers the opportunity to purchase their homes at below-market rates with long-term affordability controls.
This process aligns with converting any multi-family building to condominiums in NYC and would incorporate income restrictions, resale restrictions or a right of first refusal for a designated entity to maintain affordability.
This approach aims to preserve affordability, empower residents, and create stable, thriving communities.