Senior Cooperative Housing
Village Cooperative - Austin
2301 10th St. NW, Austin, MN, 55912-2189
Distance: 1019 Miles
Cooperative housing provides full apartment or townhouse living. Cooperative housing is owned and administered by the people who live there. Members own a share of the project and the right to occupy a unit in the building.
- Village Cooperative - Albert Lea 2201 Stevens St, Albert Lea, MN, 56007-3933
- Village Cooperative - Alexandria 515 Jefferson St, Alexandria, MN, 56308-5283
- Village Cooperative - Fergus Falls 1124 Village Cir, Fergus Falls, MN, 56537-4812
- Village Cooperative - Red Wing 2533 Eagle Ridge Dr, Red Wing, MN, 55066-7458
Other Services or resources
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BH-7000.8100-300Limited Equity Housing Cooperatives Definition
Apartment or condominium complexes or other housing facilities that are owned and administered collectively by the people who live there. A nonprofit corporation is set up to own and manage a building and the land on which it is located. Cooperative members do not own a particular part of the building and/or land, but own a share of stock in the project and the right to occupy a unit there. New residents are screened and selected by current residents and all pay equal shares of the cost of housing. Some housing cooperatives set aside a certain number of units for low-income people. Lower turnover rates, lower real estate tax assessments (in some local areas), controlled maintenance costs, and resident participation and control are some of the benefits of choosing cooperative homeownership. There are also personal income tax advantages.