Better Together

One of the things I really love about cooperatives is that they prove that we are better together.

In what other setting would you be able to build a resort style home with amenities? Creating this yourself would be daunting. You would need a developer, lots of funding and a way to organize 31 people. Luckily, you don’t have to do that! Historically, cooperatives have allowed residents of apartments in New York to afford high quality housing at an affordable price point. Uptown Living can do the same for you by providing high quality lifestyle living to all its residents.

The cooperative essentially allows you to get $400,000 value for $140,000. But you may be asking, “How”? Good question. I’m a “spreadsheets” guy so I love taking your unique living situation and showing you how the numbers work and how the cooperative lifestyle can add value for you!

If you have not had a chance to sit down with me yet, please email or call me. I can get your details into our comparison and show you what it would mean for you personally.

Chad Gardner

Community Coordinator

319-540-3623 | chad@UptownIowa.com



The Process

One of the first questions we always get is, “when will the project be built”? Great question! Let me share how the community works through this together because the answer lies in YOU. Here are the phases we will see happen:

Concept (YOU are here)

Input meetings will begin with the potential community; $500 Refundable Reservations will be taken. Once the level of interest is high enough, the next phase will begin.

Pre-Sales

Reserved members will continue the buyer’s process by entering into a subscription agreement to purchase their share. Subscriptions are sold on a first come first serve basis to those who reserved in the concept phase.

Development

Uptown will continue with the process as members finalize input on their individual units and the common spaces. Regular meetings will be held for future members to accommodate the development process for the future community. The regular meetings will be a great time to get to know your new neighbors and establish new friendships.

Construction

When approximately 75% of the home units have been sold, the funding process will move forward. Around 8 weeks later, construction will start. Total construction is estimated at 10 to 12 months.

Move In

Were you one of the first to subscribe? Great news. You will be one of the first to move in! Welcome to your new HOME!

As you can see there is no “cut and dried” dates that I can give you because just like walking we have to put one foot in front of the other. Stay tuned to your email and Facebook and we will be sure to keep you up to date.



Share or Deed?

Sometimes when we embark on something new, we want to compare “apples to apples” when we look at a new idea. When it comes to discussing cooperative living, it’s hard to actually find a true “apples to apples” comparison. Let’s discuss being a shareholder.

 

With your home, you hold a deed. With Uptown, you own a share. Most of us in Iowa think of farming cooperatives when we hear “co-op”. While some of the principals may be the same, a lot is different. As a shareholder you enter into a subscription that sets forth rules and values that the whole community will live by. This is why cooperatives do not allow you to sublet your space. The community is about involving YOU. While you have your own space, you also own 1/31st of the entire grounds, building and common spaces.

 

     • Shareholders still earn equity and they still pay taxes (in this case it is in your monthly fee) like a homeowner.

     • Shareholders take part in the government that oversees the cooperative; shareholders are “members”.

     • Uptown will most often be a non-profit or not for profit entity. When the development is complete, this will be set up by the member with help from the development team.

 

It is fun to learn about your new community, but remember I am here to help. Whether you enjoy the business side or just want to enjoy time in the future community with your friends. You can have a place here!

 

As always, stay tuned to our Facebook page for details and join our Uptown Urbana Facebook Group.

 

 

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