It’s official: we have the financing to buy the building!

The co-op will own the Baldwin House building next month

Dear Baldwin House community,

With immense gratitude, awe, and optimism, we have two major accomplishments to share: 

1. We officially have financing to buy the apartment building! It’s happening! Thanks to over $600k in donations, $1.7 million in loaned funds from community members, and a bank partner, we have what we need to finance the building! What does this mean? The co-op will take ownership of the building at the end of May 2023.

2. Baldwin House is building an ecosystem where cooperatives and mutual aid efforts can thrive. In service of that, Baldwin House lobbied for the introduction of legislation to make it easier for tenant associations to buy their buildings. This week that legislation was introduced!
   
   Ward 1 Council Member Brianne Nadeau introduced the Prioritizing Public Land Purchase Amendment Act of 2023. It would expand the District’s abilities to financially aid tenant associations in buying their buildings. In cases like ours where tenant associations are aiming to use the Tenant Opportunity to Purchase Act to buy the building, this legislation would enable the District to partner with tenants by buying the land. This means the tenant association would need to pay less to own the building.  

The creation of Baldwin House is a testament to the power of mutual aid - community members coming together, pooling their resources, to build something long-lasting and beautiful.

We are so excited to celebrate with all of you this summer,

The Baldwin House organizing team