Cohousing-L Mailing List: RE: limited equity co-housing

[Cindy Howard (cindy_howard]

Harriet,

So people pay monthly rent,fees, whatever you want to call it?

Cindy

>From: Harriet Lewis

>Reply-To: cohousing-l [at] cohousing.org

>To: cohousing-l [at] cohousing.org

>Subject: [C-L]_limited equity co-housing

>Date: Mon, 22 Dec 2003 16:23:43 -0800

>

>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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