WHAT IS A COOPERATIVE
Realife of Bloomington on Lyndale is a 62+ member owned community, providing all the benefits of home ownership. In our community the members elect a board of directors who meet on a regular basis to evaluate any challenges that
our community may face.
Our goal is to provide affordable housing where the members pay only the actual operating costs of the cooperative.
When you purchase a share in Realife of Bloomington on Lyndale, you are investing in a community, but you are also investing in security, convenience, a friendly atmosphere and many activities. Each member owns one share in the building and the beautiful land that goes with it. Together, all the members own 100% of the cooperative. The share cost is a one-time payment and is based on the size and type of home you choose. You maintain all the advantages of home ownership, such as limited equity, tax-deductible mortgage interest and
real estate taxes.
We operate on a non-profit basis. Thus, any increases in monthly housing costs are limited to actual increases in operating costs.
Part of the monthly fee is also deposited in a fund for replacement, which will be used to cover the costs of the replacement of appliances, carpets and other structural components in the future.
You will have the freedom, security, sociability in a community that you will be proud to call your home.
We are professionally managed by
Ebenezer Management Services