Publication: Pearl City Progress

February 2012

By: Greg Kistler

By: Tina Hinz  - tina.hinz@wcfcourier.com

ALEXANDRIA, Minn. (KSAX) – The Village Cooperative in Alexandria held its grand opening on Thursday.

The former elementary school has been transformed into 28 homes for seniors. Sales Coordinator Hugh Myers said The Village is a community for people 55 and older looking to start the next phase of their lives.

“The cooperative is very, very community oriented,” Myers said, “People are living here because of a change in their life, but they’re living here because they like the people they live with.”

Myers said the convenient, maintenance free lifestyle and tight-knit community has already attracted 22 buyers, which he said is a great investment.

“You actually gain equity on your home,” Myers said, “For each year that you live in the Village Cooperative your home actually goes up in value.”

Mayor Dan Ness said the city is also gaining from the cooperative. He said it’s a boost for the local economy, bringing more residents into the city to take advantage of downtown Alexandria.

“I just hope we have more coming just like it because we love having people coming back to town, it’s great,” Ness said.

For more information about the Village Cooperative visit: www.villagecooperative.com/locations/251/alexandria/

November 12th, 2011 – Marine Corps League conducts a Veterans Day ceremony at the Village Cooperative of Asbury.

The Project

The Village Cooperative of Clinton will consist of 44 new homes.  Residents will have the choice of expertly designed one or two bedroom, single level homes that range from 899 to 1,489 sq. ft. of living space.  Each home is completely maintenance-free and each includes a laundry room, storage area and a private balcony or patio. The Village Cooperative will be located right behind Fareway on 14^th Ave. NW.  A sign is positioned on our site to give an architectural rendering of the finished design.

The Village’s amenities will include: multiple community party rooms, fitness room, guest suite, elevator, woodworking shop, landscaped gardens, free wireless internet, safe & secure entrances with security cameras, heated underground parking garage, and car wash.

As a cooperative, the members control every aspect of ownership. The cooperative will also employ a part time on-site resident services coordinator, maintenance tech, and housekeeper. Courtesy services are available for members who are traveling and away from their home. Let us water your plants and check your mail; no more worrying about frozen pipes.

Lifestyle

Village Cooperative senior housing communities are designed for active seniors, 55 and over, who want an entirely maintenance-free lifestyle with all the financial benefits of home ownership. In a Village Cooperative, you can enjoy a connection with your neighbors at one of our community activities or an afternoon with the grandchildren in your own home.

As a resident-member of your senior cooperative, you will be able to sit back and enjoy life as you deserve. The lawn care, landscaping, snow removal, building upkeep and more, are all cared for. This gives you and your friends more time to enjoy each other and family.

How it works

Each member owns a membership certificate (or share) in a not-for-profit Cooperative Corporation. The Cooperative Corporation holds title to the entire property including: dwelling units, land and common areas, and assumes the mortgage, tax, and other obligations necessary to finance and operate the facility. A Cooperative is operated on a Democratic basis. The governing body of the Cooperative is the Board of Directors made up of you, the residents. Each home gets one vote when electing the Board. The Board controls and directs the policies, expenditures, and operations of the Cooperative.

The cooperative difference

Probably the greatest difference between life in a Cooperative versus other senior housing options such as senior townhomes or senior apartments is the attitude of the resident-members. Their attitudes reflect a sense of belonging, and the underlying awareness of pleasant and secure living, reminiscent of the neighborhood where they lived and raised their families.

Contact us to learn more about this maintenance-free lifestyle

Tracey Minnick is the Sales Coordinator for the Village Cooperative of Clinton and has a sales office located at 415 S. 2^nd St. in Clinton. Tracey can be reached at (563) 242-9000.  Stop by or call to see what’s new at The Village.

For more company information, visit www.villagecooperative.com and www.reedevelopment.com

By JIM OFFNER | WCF Courier | Monday, July 18, 2011

CEDAR FALLS, Iowa — The way has been cleared for St. Paul, Minn.-based Real Estate Equities Development LLC to build a three-story, 50-unit complex in the Pinnacle Prairie development in Cedar Falls.

The cost of the project is about $9 million, said Steve Jahnke, sales and marketing director for Real Estate Equities Development, which opened similar facilities for seniors last year in Mason City and Marshalltown.

In all, the company has built 12 cooperatives in Iowa, Minnesota and Wisconsin.

The Village Cooperative of Cedar Falls will have 50 one- or two-bedroom units with layouts ranging from 874 to 1,416 square feet. Each is maintenance-free and includes a laundry room, storage area and a private balcony or patio.

“It’s designed for people who want to maintain their independence, but it’s also a community,” Jahnke said.

The facility will feature party rooms, a fitness room, a guest suite, elevator, woodworking shop, landscaped gardens, free wireless Internet, secure entrances with security cameras, a heated parking garage and a car wash.

Each resident will own a share of the cooperative, which is a major difference between this concept and other senior-living establishments, Jahnke said.

“As a cooperative, the members control every aspect of ownership,” he said. ‘The cooperative will also employ an on-site resident services coordinator as well as offer courtesy services.”

Diane Robert is the sales coordinator, with an office at 3630 University Ave., Suite B., in Waterloo.

Construction on the project could begin as early as September if at least 30 buyers have signed up for units. Construction will wait until next spring if that number isn’t reached in time to build in the fall, Robert said.

“We’re now at 19; these are pretty solid people,” Robert said. “The math looks pretty good (for building in the fall).”

Project manager Shane Wright said interest has been plentiful.

“We have had a great response; we’ve had over 200 people contact us showing an interest in possibly making a move,” he said. “But there are several steps you have to take.”

The cooperative concept is gaining traction, Jahnke said.

“There’s about 97 senior housing cooperatives in the country, and 75 are in Minnesota,” he said. “Every town in Minnesota has a cooperative.”

Iowa is following suit, he said.

A $500 refundable deposit is required from applicants.

“That basically gets you a priority number to select a home,” Jahnke said. “Once they do that, they’ll sit down with Diane Robert, and she’ll go over the advantages of cooperative housing. It’s our opinion this is the best senior housing value in the market, short of if you need services or assisted living.”

As for other costs, each unit comes with an ownership share in the facility.

“Residents own 100 percent of the building,” Jahnke said.

Shares cost $40,000 to $80,000 and appreciate 3 percent annually, he added.

There also is a monthly fee starting at $800 and rising, depending on the type of unit purchased, Jahnke said.

“They cover the expenses for the building, and about 65 percent of that monthly fee is tax-deductible,” he said.

Robert said many would-be applicants who visit with her are most curious about what living in a co-op situation means.

“I say a cooperative is a collective group of people who own shares and everybody has a say-so in what happens there,” she said. “They’re voting members. And, each member of the board are residents.”

Anyone interested in the project can call Diane Robert at (319) 266-1111.
Read More: http://wcfcourier.com/business/local/senior-living-co-op-to-go-up-in-pinnacle-prairie/article_3ec67cd8-af0f-11e0-bfc0-001cc4c03286.html#ixzz1STvLO3Kh

The Village Cooperative of Clinton will be centrally located directly behind Fareway on 14^th Avenue NW for your convenience. Close to medical care, grocery shopping and restaurants, the building will be shaped like a C and the front of the building will be facing straight South towards Fareway. The rear of the building will be facing straight North so you will be able to have a beautiful view no matter which home you choose.  You can drive up there now and see where your possible new home will be! For more details on our project please contact Tracey Minnick at (563) 242-9000, email clinton@reeliving.com or visit our sales office at 415 South 2nd Street, Clinton, IA 52732.