Question 1

What is a Cooperative?

Accepted Answer

Living in a Cooperative reflects a newer lifestyle with more of a village flavor. There is a community spirit among active, independent adults, able to live on their own, and who also enjoy a larger secure setting.

Cooperative housing defines a specific form of home ownership. Each member (homeowner) purchases a share in the cooperative and participates equally with other members in electing a Board of Directors who serve a specific term.  Activities, trips, and entertainment are committee-planned by and for members that reflect the interests of their community.

The member enjoys tax advantages, potential equity growth, use of common areas, and maintenance-free living while a professional team manages the building

Question 2

What are the benefits of an Applewood Pointe Cooperative Home?

Accepted Answer

Each of the 17 Applewood Pointe properties offers many quality features and has many similarities. Each however offers a distinctive location, culture, and some unique features as noted on their individual websites. All offer carefree, one-level living that makes it easy to enjoy your senior years. Similar to a single-family home, you will have pride of ownership and build equity, while enjoying the savings that come with the economies of scale that are unique to participatory cooperatives.

You have the convenience of one monthly payment which includes everything but electricity. Compare your home ownership costs to the monthly fee and see the efficient and cost-effective Coop ownership.

Question 3

How much does it cost to purchase a home at Applewood Pointe?

Accepted Answer

Our 17 Cooperatives are completely owned by their members, and each has an individual pricing structure based on location. As homes become available, they are shown to prospective members who are on the wait list for that property and then if available, are shown on the individual websites.

Question 4

What’s included in my monthly payment?

Accepted Answer

Your one monthly payment includes mortgage principal and interest, real estate taxes, liability insurance for common areas, fire insurance on the cooperative, lender-required reserves, and legal, accounting, and professional management. Fees vary by floor plan size and include appliance repair and replacement, TV, internet & landline telephone and sewer, water, gas, trash/recycling.

Members pay for their own personal content insurance and electricity.

Question 5

Where will my guests stay?

Accepted Answer

Each Coperative has two guest rooms conveniently available to owners.

Question 6

Where is the laundry located?

Accepted Answer

Each home has its own laundry room with a full-size washer and dryer.

Question 7

Is a storage room available?

Accepted Answer

Every home in our Cooperatives comes with a private storage room located on the same floor. A select few were able to be designed within the home.

Question 8

Can I bring a pet?

Accepted Answer

Pets are allowed within conditional guidelines. See individual Cooperative websites for more information.

Question 9

Why is a wait list important?

Accepted Answer

Each wait list reservation requires a $500 deposit which provides you earlier access to available homes.

Question 10

How many Applewood Pointe cooperatives are there?

Accepted Answer

There are 17 Applewood Pointe communities located throughout the Twin Cities. All our independent cooperatives are fully owned by their respective members. All are listed on the Home page under Locations. Collectively we are home to over 2,000 55+ and 62+ adults within our locations. All were developed by United Properties, one of the Pohlad companies who have developed more than 20 quality senior living communities in Minnesota, Colorado and Florida. All are professionally managed, most by Ebenezer.

Applewood Pointe Cooperatives

Frequently asked questions