Re: Affordable Cohousing
From: Kay Wilson (
Date: Sat, 20 Aug 2016 14:13:24 -0700 (PDT)
Just a cautionary note. When we were preparing for construction
of our community about 11 years ago, we hired a highly respected
local contractor to oversee the project. When he learned that we
were considering the co-op option, he recommended that we use the
condominium structure instead because, he warned, our local banks
were not familiar with the co-op legal structure, and might not
be willing to give us a construction loan.

That turned out to be good advice, because as soon as our local
banks learned we were developing something called "cohousing,"
there was only one bank in our county that was willing to give us
a construction loan even though they were comfortable with
condominium loans - they were skittish about the strange
(communistic-sounding) structure called "co-housing." So you
might want to talk with your local bankers about a co-op
construction loan before you make your decision.

Kay Wilson
Meadow Wood Cohousing

-----Original Message-----
From: Cohousing-L
[ [at]
] On Behalf Of Susan Adams
Sent: Saturday, August 20, 2016 12:42 PM
To: Cohousing-L [at]
Cc: tmalbright [at]
Subject: [C-L]_ Affordable Cohousing

Hi all,

I just can't wait any longer! Even though I don't have a great
deal of data to offer yet, I do have links.

Floyd Cohousing currently doing business as Jubilee, is en route
to becoming a housing cooperative.

If you want cohousing and affordability, I urge you to
investigate the CoOp option.  If you become a market equity Co-Op
you can make some money when you sell your home.  If you choose
to become a limited equity Co-Op, you will only recoup what you
have spent, but your community will remain not only affordable,
but, depending on the market, often extremely affordable.

Construction loans, blanket loans, and share loans are all
available to Co-Ops.

Check out these links     (very readable)
-a-housing-cooperative/#paragraph14  (very impressive lending

I was a little daunted by the possibility of complicated book
keeping, so followed a recommendation to call a CPA in Wisconsin
who specializes in Co-Ops.  It wasn't the first time (or the
second) that a professional offered to spend several hours with
us in a conference call without charge!  I commented on that to
him...and his reply was  "anyone who works with co-ops wants to
help more co-ops happen."  Not the first time that co-ops sounded
like cohousing!

You probably won't be the first cohousing co-op, but you might be
the second!


* <>* A great place
to grow a family!
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