Village Cooperative of Hutchinson

Village Cooperative of Hutchinson
1300 Sherwood St. S.E.
Hutchinson, MN 55350
village@hutchtel.net
320-234-7761

WHAT IS A HOUSING COOPERATIVE?

Housing cooperatives are a form of multifamily homeownership. Shareholders or tenants join together to form a not-for-profit cooperative corporation which owns the building in which they live.

Residents buy a share (membership) in a co-op, but the cooperative owns the building, land, and any common areas. Residents are entitled to live in a housing unit as part of their membership benefits. Members pay a fixed amount each month that covers basic expenses, including mortgage, property taxes and more. As owners, members exercise control over their housing situation by electing a board of directors made up of other residents. This varies from a condominium or town home, where residents each own their individual housing units and are resposible for their own mortgage.

AFFORDABILITY!

Since we are a non-profit cooperative, there is no profit motive normally associated with many multi-family housing developments. We operate as efficiently as possible and charge our members only for necessary costs of maintenance, utilities, administration, debt service, insurance and reserves. As a result, any savings in costs are generally used to keep the monthly charges paid by our members affordable.

AMENITIES!

Barrier Free Access, Private Guest Suite**, Monthly Catered Meals**, Cable TV** (Antenna TV Free), Workshop & Whirlpool Rooms, "While You're Away" Services, Comfortably Furnished Lounge, Mini-Bus Transporation Tokens, Attached & Detached Garages**, Four Laundry Rooms (Coin Free), Craft and Exercise/Fitness Room, Garden Plots on Landscaped Grounds, Great Room for Entertaining Friends, Common Area Maintenance & Cleaning, Front Entrance Security/Secure Building; Pet Friendly (dogs & cats only) as long as the animal is under 35 lbs. and under 18" from their shoulders.

(**Available for a nominal fee)

REALIFE MANAGEMENT SERVICES - www.realifemanagement.com

For over 30 years, Realife, Inc. staff have been in the business of creating cooperative communities for independent and active seniors. It all began in 1975 when Realife founder, Dick Hanson, assisted in developing the first senior housing cooperative of its kind in the country -- 7500 York in Edina, Minnesota. Today 7500 York is considered by many as the "pioneer" of limited-equity cooperatives.

Today, a new generation of Realife staff continues the tradition of providing seniors with a special housing and lifestyle option. Dedicated staff are proud to have the partnership with Dick Hanson and carry on the good work he started nearly 4 decades ago.

Based in Apple Valley, Minnesota, Realife has a wide-ranging history in senior housing, with over 80 years of experience in the development, marketing and management of independent senior housing cooperatives. It is this extensive history and ongoing commitment to quality that makes Realife the number one developer and manager of senior housing cooperatives in the country today.

At Realife we are dedicated to providing the affordable and quality lifestyle option of cooperative living for individuals and families 55 and better. A Realife cooperative is a special place to live, where an extraordinary sense of community is created for all the members. Throughout the years we've discovered we are doing more than simply constructing buildings with bricks and mortar, we are creating communities for people to thrive independently in their senior years.

As a developer and manager of cooperative communities, Realife staff takes pride in being able to learn first-hand about the ever-changing needs and desires of our members. Our day-to-day contact in working side by side with cooperative members gives us deep insight into creating successful and vibrant cooperative communities. We are humbled in knowing over the years some 1,500 individuals and families have chosen the cooperative lifestyle and joined the Realife family.

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