A housing cooperative is a community owned by the people who live there. Instead of buying an individual condo or renting an apartment, you purchase a share in the cooperative corporation. That share gives you the right to live in a specific home and a voice in how the community is run.

At Village Cooperative, members collectively own the building, grounds, and shared spaces. The cooperative handles maintenance and day-to-day property operations, so you can enjoy the benefits of homeownership without many of the responsibilities of maintaining a house.

There are two costs: a one-time share purchase and a monthly expense.

Your share purchase makes you a member-owner of the cooperative. Share prices vary by community, floor plan, and home location, generally ranging from $150,000 to $300,000.

The monthly expenses cover the cooperative's operating expenses, including maintenance, utilities for shared areas and certain home utilities, property taxes, insurance, the master mortgage, and reserve funds for future repairs and replacements.

Your sales manager can walk you through the costs for a specific home so you understand what you're paying for before making a decision.

Think about everything that goes into maintaining a house: lawn care, snow removal, repairs, insurance, property taxes, and eventually replacing things that wear out.

At Village Cooperative, those responsibilities are handled collectively. Your monthly expense helps pay for interior and exterior maintenance, groundskeeping, building operations, the cooperative's master mortgage, and reserve funds for future expenses.

That means fewer unexpected repair bills and less time spent finding contractors or arranging maintenance. You can spend more time enjoying your home instead of taking care of it.

When you're ready to move, your ownership share can be sold to another qualified buyer. The cooperative helps facilitate the resale process, including connecting with prospective members and people on the waiting list.

Village Cooperative uses a limited-equity model, which means share values increase according to a formula established in the cooperative's governing documents rather than fluctuating directly with the housing market.

When your share sells, you receive the applicable resale value, including accrued equity, subject to the cooperative's resale terms and any applicable expenses. The process does not require a traditional real estate listing or agent commission.

With a rental apartment, you pay monthly rent but don't build ownership equity. With a condo, you own your individual unit and are generally responsible for more of its interior maintenance and repairs.

Village Cooperative offers a different approach. You own a share in the entire cooperative, build equity according to its limited-equity structure, and share the costs of maintaining the property with other members.

You also have a say in how your community operates. Members elect a board of directors, with one vote per home. It's homeownership designed to give you more freedom, more predictability, and a greater sense of connection to the people around you.