Cohousing-L Mailing List: Documentation for banks

[Marty Maskall (mmaskall]

Hi Paul,

Good luck as you go through the loan process.  We will be doing that soon. 
We have neighborhood opposition, so we researched property values.  You 
might want to check out our website, www.OrangevaleCohousing.org.

Here's the pertinent text:
INCREASES PROPERTY VALUES:  Some Sycamore Village neighbors have expressed 
concern that higher-density housing might lower their property values. 
However, the respected Urban Land Institute (ULI) cites research that 
indicates no discernible difference in the appreciation rate of properties 
located near higher-density development compared to those that are not. 
Read excerpt of ULI report.  The ULI conclusions were recently verified by 
two local appraisers.  Read letter from Fair Oaks appraiser.  A cohousing 
appraiser conducted an analysis of cohousing neighborhoods in the greater 
Sacramento area.  Read letter from cohousing appraiser.  Several communities 
have found that cohousing actually increases surrounding property values. 
Read letters from the Mayor of Sacramento, the Mayor of Chico, and the Mayor 
of Emeryville.

Hope this helps!

Marty Maskall
Orangevale Cohousing (a Sacramento, CA suburb)
mmaskall [at] pacbell.net

Message: 3
Date: Fri, 7 Dec 2007 15:06:23 -0500
From: "Paul L. Della Maggiora" <paul [at] barkingdog.us>
Subject: [C-L]_ Cohousing success documentation for banks as we begin
the loan search
To: "'Cohousing-L'" <cohousing-l [at] cohousing.org>
Message-ID: <007601c8390c$a4ee4a90$eecadfb0$@us>
Content-Type: text/plain; charset="us-ascii"

Hello.  Now that we are closing on the land for Footpath cohousing in
Durham, NC with a 2 year option, we are now preparing to approach banks for
development-related financing.  Along with all the normal supporting docs, I
am looking for any documentation that shows cohousing houses selling as good
if not better than regular subdivisions, and anything that demonstrates the
imperviousness of cohousing development to the current housing downturn.

Please let me know if you have something that might help us.

Thanks!

Paul Della Maggiora

Former Eno Commoner

Current Footpath developer

Durham, NC