Frequently Asked Questions
Applewood Pointe offers carefree, one-level living that makes it easy to enjoy your retirement years. Just as with a single-family home, you will have pride of ownership and build equity, while enjoying the savings that come with the economies of scale that a cooperative offers.
The monthly payment includes mortgage principal and interest, real estate taxes, operating expenses, lender-required reserves, as well as interior and exterior maintenance, sewer, water, gas, trash, and recycling. It also covers liability insurance, legal, accounting, and professional management. Fees vary by size of floor plan. Members pay for their own personal contents insurance and electricity. Most communities now include phone, internet, and TV (cable or satellite) in monthly fees.
Your guests can stay in your home or in a guest suite. Every cooperative has 1-2 guest suites which can be reserved and rented at a very reasonable rate (far below the cost of a hotel).
Every home has its own in-home laundry. No more carrying baskets to the basement!
Every home comes with an additional storage room. Depending on the community, this may be located in the garage, on your floor, or on a floor above or below you.
Applewood Pointe cooperatives do not have a commercial kitchen. However, just like in your own home, you can arrange for food to be delivered. If dining service is of interest to you, we invite you to consider our Cherrywood Pointe communities.
Applewood Pointe communities are pet-friendly. Typically, you may bring up to two pets (dogs or cats), each weighing 25 lbs. or less. Please contact the cooperative directly for more information.
To date, there are 15 communities which are located in Bloomington, Champlin, Eagan, Maple Grove, Minnetonka, New Brighton, Roseville, Shoreview and Woodbury, and three future cooperatives, located in Eden Prairie, Prior Lake, and Lake Elmo/Woodbury. Currently, we are serving nearly 2,000 older adults within our orchard.