Our beautiful setting, wooded vistas, wetlands, walking paths, and a vibrant active community of 56 apartment homes.
What is a cooperative?
A cooperative is member-owned, self-governed housing that allows for the same tax benefits as home ownership.
What is a limited equity cooperative?
A limited equity cooperative is created when restrictions are placed on the resale of cooperative interests to make them affordable to multiple generations of purchasers. The resale restrictions can be based on the income characteristics of incoming purchasers, on sale prices themselves, or on both. The term “limited equity” refers to the low equity investments a new member of the cooperative makes, compared to what would be the open market purchase price of the unrestricted cooperative interest. Gramercy Park of Plymouth is a limited equity cooperative.
What are the advantages of limited equity?
Limited equity nurtures a culture of openness and cooperation since there is full financial disclosure of all down payments and monthly costs.
What transportation options are available?
Plymouth is favored with a number of public transportation services, including metro bus service that stops on our street. Additional transit services are available, for details go to www.plymouthmn.gov.
Can I have a pet?
You can have one dog (20 pound limit) or up to two cats. Pets must be carried or carted in common areas.
What are the laundry facilities?
Your home has its own washer and dryer.
Do you have accommodations for large gatherings?
You can reserve the spacious common room with full kitchen and large attached deck with a gas grill at no cost.
Do you have accommodations for guests?
You can reserve our lovely, smoke-free guest suite (up to 4 guests) for a very reasonable fee.
What are the parking facilities?
There is one parking space provided per unit at no cost in the heated, underground garage. Additional space may be rented from other members. Off-street parking is available for members and guests.
How are newspapers delivered?
If you are a subscriber to the Star Tribune or WallStreet Journal, your paper is delivered to your door.
What does the monthly fee cover?
Your monthly fee pays the mortgage, insurance, taxes, administration and maintenance, lender required reserves, common utilities, high speed internet and HD cable TV.
What additional expenses do I have?
You pay for your own utilities: gas, electricity and phone.
What contributes to the cooperative’s security?
It is a combination of our members’ vigilance and awareness, controlled entry, and our video surveillance system which allows members to view building entrances on their own TV.
Gramercy Park Cooperative of Plymouth 10400 45th Avenue North Plymouth, MN 55442 763.531.9424