FAQs
What is a Senior Housing Cooperative?
Why choose a Senior Housing Cooperative?
A senior housing Cooperative such as Cardinal Pointe of Maplewood is owned and governed by the resident members. Cardinal Pointe offers a lifestyle of comfort, security and freedom from many of the worries of home maintenance. Controlled access and ease of living are high priorities in both the design and ongoing operation of the Cooperative.
Equity Type?
Support Services?
Cardinal Pointe of Maplewood is an independent living community with no services provided. Members may secure services independent of the Cooperative.
What is a Cooperative and Who Owns It?
A cooperative is a not-for-profit community jointly owned by its members. Each member purchases an equity share, which provides the benefits of home ownership without many of the worries of home maintenance, fostering a supportive and collaborative living environment.
How Does It Work?
Members purchase an equity share, which entitles them to occupy a home and participate in the cooperative’s operations. Equity grows over time, and members enjoy an active, social lifestyle through various community activities and shared interests.
How Does Owning in a Cooperative Compare to Renting?
Cooperatives offer lower costs, tax benefits, equity growth, and stability, unlike renting. Members also enjoy a greater sense of control and community involvement. When renting, a third party receives profits. In cooperative living, proceeds come back to the community.