Own a share in the cooperative, grow your investment, and enjoy lower monthly costs through shared services. When you purchase a share in a cooperative, you are assuming a portion of the master mortgage on the building allocated to the unit. Buyer is purchasing the equity amount paid by the seller on the master mortgage. After financially qualifying, the buyer assumes their portion of the master mortgage on the building for their share on the unit. In addition to private features, shared resources include: the monthly member fee of $1,779.00 and includes: buyers’ portion of the master mortgage, principal, taxes, mortgage insurance, master insurance on the building, all operating expenses: professional management, water, sewer, trash removal, heat, common area electricity and common area air conditioning, internet, cable, phone, standard replacements, repairs and maintenance of unit and common area appliances and fixtures. Members are responsible for unit HO6 policy and unit electricity. Close proximity to State and local trail systems. Lake Phalen is within 1/2 mile. Outdoor recreational areas. Easy bus line to Downtown St. Paul. Excellent view from deck with treelined shade. Free laundry located next to the unit along with locked storage.
The cooperative is actively driven by the Board of directors, committee and member involvement. Unit and common area maintenance is completed by a full-time cooperative Maintenance Technician. The Property Manager works on-site and assists with the day-to-day operations.
