Cohousing-L Mailing List: limited equity co-housing

[Harriet Lewis (hlewis]

Santa Rosa Creek Commons, 22 years old, is a limited equity complex 
which has resulted in maintaining low prices.  For less than $20,000 
maximum, people buy a share in the housing cooperative.  That is 1/27th 
of the total 1.5 acre complex with 27 apartments. When they leave, they 
get it back.  They don't lose money but they don't make money either.  
Therefore, we are still offering share values for very reasonable 
prices and monthly carrying charges below market value for local 
apartments.

This has worked well for us but it goes against the grain of making 
money on real estate.

We also do much of our own management work .

At the moment, we have temporarily halted applications for single 
adults and are actively searching for families with children.  10 of 
our units are assisted living units.  H Lewis



 

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