|Letter to Chuck Durrett re: developer-driven cohousing as an option||<– Date –> <– Thread –>|
|From: Katie Henry (katie-henryatt.net)|
|Date: Mon, 25 Oct 2021 15:24:59 -0700 (PDT)|
Hi Steve, Building on what Sharon said earlier ... The two developer-driven DC-area cohousing projects -- Takoma Village and Eastern Village -- were both built by a developer who had the cash, access to financing, and local track record needed to acquire the properties and get a construction loan with minimal contributions from the future members. As I recall, at Eastern Village we each paid $1,000 to join plus some trivial amount to cover meeting space and training activities. Contrast that with a self-developed project where the future residents have to come up with 20% to get construction financing. If we hadn't been able to put together enough of a group very quickly (a few months), the project would have converted to regular condos. If we had needed 20% down from members, it would never have happened. Plus our developer was a burning soul himself in many ways, willing to accommodate the overhead of community participation. Also, he had his own architecture firm. It was a rare set of circumstances. We were lucky. Our cohousing consultants don't have the deep pockets and regional relationships needed to replicate this model. Maybe this article will come to the attention of benevolent billionaires who would be willing to finance cohousing. Seems to me that the 20% down payment is one of the biggest hurdles in building new communities. Katie HenryHeartwood Commons - TulsaAbout to put the roofs on!https://www.heartwoodcommonstulsa.com/
Letter to Chuck Durrett re: developer-driven cohousing as an option Steve Welzer, October 24 2021
- Re: Letter to Chuck Durrett re: developer-driven cohousing as an option Sharon Villines, October 25 2021
- Letter to Chuck Durrett re: developer-driven cohousing as an option Katie Henry, October 25 2021
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