BNIM, along with Urban Neighborhood Initiative, developed a proposal for a non-profit, mixed-income cooperative housing proposal at 31^st and Troost that incorporated social services and created a new model for residents.

Working together for the area’s development plan, both understood that affordable and innovative housing was a high priority for residents and the city as a whole. The proposal at the corner of 31^st and Troost would have developed almost 100 living units ranging from studios to two-bedroom units.

Using HUD’s cooperative lending program and philanthropic and grant fundraising, the project would have created 40% affordable units at low-income and moderate-income levels in addition to market-rate. The residents would all build equity through their down and monthly payments and eventually own the building and decide on its operations. Working with CHES, Inc., the team would have developed a pipeline of residents of all income levels and ensure they were knowledgeable about the cooperative model and its benefits.

The project also aimed to incorporate a social service worker for residents and surrounding neighbors funded in part through market-rate residents’ monthly payments and community partnerships with Reconciliation Services.

This project proposal, using traditional and long-standing federal lending, is an example of how bringing together the right partners and ideas could create new ways for housing to be affordable, mixed-income, build resident equity, and contribute to the broader community.

BNIM’s address initiative continues to explore different ways of creating housing that supports residents and the community.