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Ownership Condominiums & Cooperatives The following section on ownership opportunities refers to condominiums and cooperatives that can be purchased at either total value or share value. CONDOMINIUMS Condominiums for older adults are typically apartments available for purchase instead of rent. Each individual owns and is responsible for his unit. All owners in the complex jointly own the grounds, common areas and exterior of the building. The owners also elect a Board of Directors from their members. A monthly association fee covers the costs of common areas, maintenance and repairs as well as management. When a resident sells his unit, there is usually no limit on the realized profit. Condominiums may vary in their architectural style. They may be low-rise apartments (three floors or less) or high-rise apartments (four or more floors). Condominiums may also be townhomes (one or two-story units with a separate entrance for each resident), twinhomes (side-by-side units), duplexes (one unit built above another unit) or even single-family homes. COOPERATIVES With cooperative ownership, a corporation composed of residents owns the land and buildings. The residents are stockholders in the corporation and elect a Board of Directors from their members to make decisions and arrange for the management of the cooperative. The purchased stock entitles the individual to occupy a unit in the building. A monthly association fee covers maintenance, repairs, taxes, management and other costs. Two types of cooperatives exist: “market rate” and “limited equity.” Share values of “market rate” cooperatives reflect the full value of the unit. At resale, the member expects to sell the cooperative share for the original cost plus as much equity as the market allows. Share values of “limited equity” cooperatives reflect a partial value of the unit. The member expects to sell the cooperative share of the original cost plus as much equity as the cooperative’s bylaws permit. LEE SQUARE COOPERATIVE In the of ROBBINSDALE MN Screened in gazebo, fountains & walking paths with an abundance of flowers! Shaded patio area for picnics, grilling out and much more! Phone Penny for a tour 763-522-5095 www.leesquarecooperative.com 4400 36th Avenue North Becketwood A cooperative community of active, independent owners 55 and over. Call 612-722-4077 Located on 12 beautiful wooded acres along the bluffs of the Mississippi River, Becketwood is the ideal place for active, independent people who enjoy the best of both cities. Attend the Ordway Center in St. Paul or catch a baseball game at the new Target Field in Minneapolis. Becketwood is within 15 minutes of both downtowns and the airport. Becketwood 4300 West River Pkwy. S. Minneapolis, MN 55406 www.becketwood.com Since 1986 EQUAL HOUSING OPPORTUNITY Condominiums & Cooperatives Page 40 Senior Housing Directory
Grid Information Concerning Condominiums & Cooperatives • If a phone number is not listed, the unit may be offered through the real estate market. Work with your realtor to locate the unit. • “Building Description” listed on each page is not all-inclusive. • “Basic Services” refers to services available at each development. • Pet policies & restrictions vary. • “Response System” refers to a pull cord usually located in bedrooms & bathrooms or a pendant that can be used for emergencies. • Cost ranges, monthly association dues and garage charges are subject to change. Call for a Tour Today Condos & Coops Come join us... enjoy a carefree, affordable lifestyle in the heart of Golden Valley. 6711 Lake Shore Dr. Richfield, MN 55423 612-861-1378 www.gramercylakeshore.com All homes feature fully-equipped kitchens, individually controlled heat and air conditioning and 24-hour emergency call systems. Optional services let you custom match your lifestyle. Affordable floor plans that fit your lifestyle...starting at $45,000. Our resident members enjoy these on-site amenities: • Chef-prepared meals for you to savor • Social and recreational programs for your enjoyment • Heated garage with convenient car wash • Library, craft room and woodshop for your hobbies • Scheduled transportation to shopping, and more • Optional housekeeping services • 24-hour, on-site experienced staff Come see why folks want to live here. Call today! 7600 Golden Valley Road Golden Valley, MN 55427 763-544-1090 www.calvaryco-op.com ENJOY SPRING! On sunny days, walk to restaurants & shops. On rainy days, pick from many activities within this fun and welcoming community of neighbors! Every day, enjoy being across the street from Wood Lake Nature Center’s 150 acre natural Park! AFFORDABLE SENIOR HOUSING FOR ADULTS 55+ New financing options available! Home Care Services Available On-site Condominiums & Cooperatives Page 41 Senior Housing Directory
Page 1 and 2: enior housing irectory Care Options
Page 3 and 4: Crest View Senior Communities Servi
Page 5 and 6: Letter From The Editor: Dear Reader
Page 7 and 8: Do I Need a Change? A Self-Assessme
Page 9 and 10: Minneapolis American Indian Center
Page 11 and 12: ADVOCACY SERVICES Minnesota Office
Page 13 and 14: Community Fix-Up Fund 800-710-8871
Page 15 and 16: H.S.I. - Washington County (can tak
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Page 21 and 22: Home Modification: “Staying in Yo
Page 23 and 24: Who Pays for Home Care? You can pay
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Market Rate Page 91 Senior Housing
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Market Rate Page 93 Senior Housing
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waiting lists at the same time. An
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Subsidized Housing Page 97 Senior H
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York Gardens is the perfect choice
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Assisted Living Page 111 Senior Hou
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Hometown Comfort, Closer than You t
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Memory Care Page 131 Senior Housing
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It’s time to change your lifestyl
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