Maintenance free housing cooperative for seniors breaks ground in September

A fence and banners surround the site, near the Foothills Mall in Fort Collins, where the Village Cooperative will break ground in September

Colorado’s first senior housing cooperative is preparing to break ground in Fort Collins. With several developments planned throughout the state, the Foothills Mall location in Fort Collins will be the first, located at 514 E. Horsetooth Road. Other communities are planned in Centennial, Greeley, Lakewood and Longmont.

“Being close amenities, doctors, local resources for folks and the support they need is ideal,” said Bevia Berne, Sales Manager for the Fort Collins project near the mall.

The Village Cooperative is a community of active adults who want to escape the hassles of home maintenance and upkeep, but want the investment and tax advantages of home ownership.

For people 62 and older, the Village Cooperative provides opportunities for ownership through shares of the project through a non-profit corporation. The shares range in cost from $106,000 to $209,000, with monthly fees between $1,000 and $2,000, depending on the floor plan chosen.

Members who purchase a share are allowed to live in one home. They are allowed one vote when electing the board which runs the cooperative. Shares are an asset which can be passed down to their heirs or sold.
Residents “wouldn’t have to change a lightbulb if they don’t want to,” said Byrne.

Units range in size from 1-3 bedrooms and 873-1,586 square feet.

Scheduled for completion in the fall of 2018, 43 of the 52 homes are sold.

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