Johnnie St. Vrain: What is a Residential Co-op?
Dear Johnnie: I saw Tuesday that the SWAT team was using an old farm house where a residential co-op is going to be built. My question is: What is a residential co-op? I am familiar with an agriculture co-op. Is this what this is? Is it some kind of government price controlled homes or ...? — Just Curious
Dear Just Curious: The housing cooperative planned for that parcel specifically will be for residents ages 62 and older. And it’s a private, not a public, development.
As defined by the developer, a housing co-op is a housing arrangement that combines home ownership with community living. Everyone in the co-op community owns a share of the entire development, which then provides shared amenities. In the case of this Longmont development, shared spaces are planned to include an underground heated parking garage, a guest suite, a club room, reading areas, gardens, a workshop and a gym.
Other housing cooperatives include shared play areas and laundries.
This arrangement allows for individual homes to be smaller.
This is not exactly like an ag co-op, but it is similar in that it allows members to combine resources as a way of saving resources.
Just Curious, this talk of co-ops reminds me of my childhood, when my farmer uncles wore what I was certain were caps that promoted some sort of chicken “co-op.”
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