Senior Housing Cooperatives Sweeping the Midwest

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May 13, 2016, 11:30 ET

KANSAS CITY, Mo., May 13, 2016 /PRNewswire/ -- On Friday, May 13, 2016, Real Estate Equities Development, LLC, a senior housing cooperative developer, announced plans for multiple Village Cooperative senior housing communities coming soon to the Northland area in Kansas City. Details for these communities will be unveiled at upcoming informational seminars that will be held as an opportunity for the public to learn about the lifestyle and financial benefits of maintenance-free cooperative living. Please call (651) 760-8309 for dates and locations.

The Village Cooperative is a community for active adults who want home ownership, no maintenance and to be close to friends and family in a beautiful and secure setting--all at an excellent value. The cooperative offers an affordable, carefree lifestyle with financial benefits that traditional senior condos or apartments cannot provide. Those who reserve their home early in a new development will have their choice of finishes to suit their personal tastes. Village Cooperatives can be found in Minnesota, Iowa, Wisconsin, Kansas, Missouri and a new development in Colorado coming soon.

While still a relatively "new" concept, senior cooperative housing originally began in Minnesota in the 1970s and has had a successful track record with over 115 communities developed to date, primarily in the Midwest. Real Estate Equities Development, LLC in Eagan, MN is the developer for the Village Cooperative, which has 26 communities that are either operating, under construction, or scheduled for construction in the next year and can be found in six different states.

"Our company started developing Village Cooperative communities in 2003 because we saw the demand for this type of dynamic lifestyle. These communities give active adults around the Midwest an excellent option of home ownership with a hassle-free lifestyle. We include the amenities they desire and all for a great value," said Keith Jans, President of Real Estate Equities Development, LLC.

Senior housing cooperatives offer independent ownership in a community setting with similar-age peers. Unlike other typical types of senior housing, members purchase a share in the entire development, own the cooperative collectively, enjoy the financial and tax benefits of home ownership, and have control over decisions affecting their community. The value of the member's share is based on the home's size, type and location. And because the cooperative runs as a not-for-profit entity, membership involvement increases while shared costs for services are often lower than other housing options. Another unique aspect of Village Cooperative communities is that members receive equity growth in the value of their share. This fixed equity growth ensures that the resale value increases for current members, while still being affordable for future members.

"I think the financial advantages and the ownership structure of our cooperative communities is what seals the deal for our members. In addition to the maintenance-free lifestyle, members appreciate the social opportunities and having a 'say' in decisions as well as knowing their investment is secure," said Shane Wright, Project Manager of Real Estate Equities Development, LLC.

The Village Cooperative offers convenient locations close to shopping, beautiful and established neighborhoods as well as many other services and amenities supporting these neighborhoods. These cooperative developments feature beautifully decorated community areas including a community room with kitchen, guest suite for friends and family, club room, reading areas, outdoor gardening beds, workshop, fitness center and underground heated parking with a car wash bay.

Members have the choice of expertly designed one and two bedroom homes—some with separate dens—that range from approximately 850 to over 1,600 sq. ft. of living space all on one level. Each home is completely maintenance-free and has its own private laundry room, storage area and balcony. Well-equipped kitchens include spacious, open floor plans with kitchen islands, rollout shelving in the base cabinets along with a choice of cabinetry and countertops to suit each member's personal style.

The cooperatives also employ a Member Services Manager as well as offer courtesy services. As a cooperative, the members control all aspects of ownership. There is no other senior cooperative in the area that offers the convenience and easy lifestyle available at Village Cooperative.

Village Cooperative communities are offered by Real Estate Equities Development, LLC, a Twin-Cities, Minnesota based real estate development and property management firm with its roots dating back to the 1970s. Over the past decade, Real Estate Equities Development has developed over 30 projects comprising over 1,400 units with a value of $250,000,000 in urban and suburban communities.

For more company information:
Village Cooperative: www.villagecooperative.com

Sales Contact:
Steve Jahnke
Phone: (651) 760-8309
Email: [email protected]

CONTACT: Shane Wright, 612.432.3927, [email protected]

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SOURCE Village Cooperative