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Bright Street Co-op Update

Posted on Tuesday, September 22, 2015, by Jonathan Shenton

A New Housing Option in the Old North End.


Update

We are moving full steam ahead on creating a new, 40-unit housing cooperative on Bright Street. Construction has begun, and our Selection Committee (members of other housing co-ops) is starting to interview applicants.

The way to apply is to attend an orientation and then submit an application; you can find the next orientation dates and register for one via our calendar. Applicants will be considered in date order.

As well as the autonomy, community and security that all co-ops offer, the Bright Street Co-op will provide underground parking, covered bike parking, a community room, and laundry facilities on-site. We are also working with the city to try to create a community garden right next to the co-op.

What is a housing cooperative?

In a housing co-op “the members are the landlord.” It is a business that the members own and run together, doing the work a landlord would do in a rental.

The shared control and responsibility makes co-ops different from either renting or owning your own home. Financially a co-op is more like renting, but the members’ control and responsibility lead to an ‘ownership attitude’ without the financial commitment of buying a home.

Cooperative housing is not for everyone. As an intentional community it is ideal for people with the desire and skills to work with their neighbors and to help create a stable community.

The co-op will feature:

  • Forty apartments and townhomes 
  • A vibrant mix of household sizes and incomes
  • New, energy-efficient construction 
  • Self-management that brings a sense of community and security
  • Underground parking, laundry room, community room, elevator
  • Shared outdoor space

Time frame

  • Construction started in August, 2015; we expect to open in the fall of 2016. 
  • We are taking applications now.

Apartment sizes and approximate monthly charges (heat included):

Thirteen 1BR apartments in the range of $675 to $975/month
Twenty-one 2BR apartments in the range of $780 to $1,250/month
Five 3BR apartments in the range of $975 to $1,350/month
One 4BR apartment in the range of $1,300 to $1,450/month

Interested? To learn more and apply, come to a one-hour Orientation to Cooperatives. 
Register online or with Julia Curry at jcurry@getahome.org or (802) 861-7378.

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