Here’s how it works:

 

Mixed-Use Floor Plates

 

1. Cooperative Units (Co-ops):

 

Ownership Structure:

 

Seniors who can afford it 

might buy into the co-op

floor-plates. 

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This gives them

an ownership 

stake in the building, 

which provides

financial security 

and stability. 

​

Co-op ownership is more 

affordable than traditional 

home ownership because 

it spreads costs

across all residents

and includes 

lower purchase prices.

 

Monthly Fees:

 

Co-op residents may pay 

monthly maintenance fees 

that cover a share 

of the building’s 

operating expenses, 

such as utilities, 

maintenance, 

or property taxes. 

 

These fees

are lower 

than market rent 

because they are based 

on actual operating costs 

rather than startup costs.

 

Community Involvement:

 

Co-ops foster strong involvement 

in the community 

because residents have 

a direct investment in the building 

and interest in how it is managed. 

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This is valuable for seniors 

who care about communal living 

and are affected by decision-making.

 

2. Rental Units:

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Affordable Rent:

 

By securing

subsidies 

and grants

through 

federal programs, 

local government, 

and partnerships, 

to offer these units 

at $600 per month. 

 

These units are to be

reserved 

for low-income seniors

who won’t 

have the resources

to buy into a co-op.

 

Flexibility:

 

Rental units

provide flexibility 

for seniors who

might not be able 

to commit to ownership 

or who may

need temporary housing. 

 

They also allows for

a steady

stream of income

to cover building expenses 

and reinvest into the property.

 

Benefits of a Mixed-Use Model

 

Financial Viability:

 

Combining co-op

and rental units 

makes the project

financially stable. 

 

The co-op unit's 

customizable floors 

complement funding 

from finished low-rent units, 

and the mixed-income structure 

balance

financial needs

of the property.

 

Community Diversity:

 

A mix

of co-op floor plates

and

affordable rental units  

creates

a diverse community, 

with a range of age

interests 

and

economic backgrounds. 

 

This enhances

social interest

environments 

and provides

mutual interaction

and support 

among residents.

 

Flexibility in Financing:

Having both ownership 

and rental models

open up 

different streams

of financing. 

​

Co-op financing

attracts 

different types

of investors 

and loans

than rental financing, 

leveraging

multiple financial tools