Cooperative housing means joint ownership and operation of a housing development by those who live in it. Cooperative members are in effect their own landlords, enabling the cooperative community to be built and operated at a very affordable cost.
Each member purchases a share in the limited equity corporation. These shares provide the equity to secure a mortgage. The individual share holding members have equal voting status in electing the cooperative board of directors from their membership.
Cooperative housing combines the advantages and pride of home ownership with the convenience of community living.
Applewood Pointe represents a new choice for independent adults 55 and better. Maintenance-free living offers security, social life, and a voice in community affairs. We are a resident owned community designed for people to share an outstanding life together.