Joint Ownership

Each member family owns a share in the non-profit corporation that operates the building, contracts for services, and holds the mortgage and other joint assets and liabilities.  We work together to support our community. Each member share contributes a monthly carrying charge that covers mortgage costs, operating costs, and additions to reserves for future maintenance. The level of the carrying charge is set from time to time by the board, and varies by unit square footage square footage.

Owning a share gives:

The Key?

We are our own landlord. Unlike many landlords,

we live here.

Benefits

Cooperative living means ownership, providing the pride and security that comes with owning your home. Buying and selling a share in a cooperative is handled by the building manager acting for the Board. There are no filing fees or other closing costs. The cooperative may charge an administrative fee for handling the transaction.
PictureEmerson Heights Cooperative Mission Statement