A senior cooperative is a special type of home ownership where a person buys a share in the whole cooperative (not-for-profit corporation), which includes the right to live in a specified home. A monthly fee then covers the costs of running the cooperative. See Gramercy Plymouth's pricing structure as an example.
A property management company, like Ebenezer Management Services, runs day-to-day operations, but the members have a board of directors and many committees that shape how the co-op is run. It is not required of the members to participate, but it is expected. An active ownership makes for a strong community.
Co-op living is for people who are independent and community minded that would like to be free from the trappings of single-family home ownership. People also move from apartments to co-ops for more freedom.
The St. Paul, MN based Senior Cooperative Foundation has detailed information on the benefits of co-op living. Or you can contact our property manager, 763-531-9424.
Cooperatives vs. Condo vs. Apartment
Gramercy Park Cooperative of Plymouth 10400 45th Avenue North Plymouth, MN 55442 763.531.9424
Happily Owned by Cooperative Members Excellently Managed by Ebenezer Management Services COPYRIGHT 2020 Gramercy Park Cooperative of Plymouth