Cohousing-L Mailing List: Re: Quantifying the value added of cohousing

[Sharon Villines (sharon]

On 5 Feb 2012, at 5:06 AM, Gai Galitzine wrote:

> Does anyone have any statistics ($ or %age values) that will help us
> quantify the value added of being part of a cohousing community. We are in
> the process of preparing material for potential bankers/investors and need
> to give them something they can get their heads around that explains the
> value added of cohousing in their terms. 

One possibility is to find the figures from condominium research that values 
their amenities — how much easier is it to sell a condo that comes with access 
to a gym, party room, etc. This research would have been done in order to 
determine the cost effectiveness of having such facilities and a formula 
created for developers.

Then use that per square foot cost to value your common facilities, including 
any commonly owned land. A statistician somewhere will probably say this is not 
a valid comparison but I think that is all we have. If you find it, please post 
it here.

One of our reserves consultants told us that the size of our common facilities 
would normally be supported by 400 units. That means we have almost 90% more 
common facilities than would be expected. He was speaking almost 10 years ago 
and amenities have increased so that figure is probably no longer accurate.

Whatever you do, do not try to sell the project to a bank based on the benefits 
of community living UNLESS  you can also find the figures showing that condos 
where neighbors know each other and develop social bonds are more stable. There 
are some. The CAI has quoted them.

For figures I would go to the CAI and the Property Managers Association. Both 
are concerned with these issues and may be able to help you. A letter t the NY 
Times columnist who answers questions on condos and coops might be productive 
also.

Please share whatever you find.

Sharon
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org