A Unique Cohousing Co-Ownership Opportunity

There is a “one of a kind” residential unit in Prairie Spruce Commons that offers a world of possibilities for private living space. Unit number 301 is located near the elevator on the third floor and overlooks Badham Blvd. This residence is a combination of our one-bedroom-plus-den unit and a second bedroom with its own full bath and private entrance. The east side of the unit is identical to units 101 and 201 while the west side of the unit is identical to the guest suites on the first and second floor. This combination makes unit 301 the largest in the building at 1180 square feet.

With advanced notice, the second bedroom and den can be reconfigured to create a full three-bedroom unit that can accommodate a young family. Alternatively the den can be flipped to open up onto the second bedroom thereby creating an additional seating area for the second bedroom. This second type of configuration would effectively create a Master Suite with its own entrance, bedroom, bathroom and sitting area but with shared access to the unit’s kitchen and living area. With the Master Suite configuration prospective members could share ownership of unit 301 as tenants in common under a co-purchase arrangement.

The unique configuration of this unit provides some great flexibility for families, empty-nesters taking care of elder parents, or young professionals wishing to share ownership of a unit in a walkable neighbourhood close to the university, the General Hospital and the downtown core.

For most cohousing groups there are buyers who find that it is feasible and more affordable for them to co-purchase their new home with another person or another household. Having common facilities and a strong sense of community is often what makes this possible. Sometimes the other party is another homeowner within the community and sometimes they are external friends or family (e.g. a grandparent). Sometimes the co-purchasers will occupy the new home together or alternatively, one owner member may live there and rent out part of the unit to another resident member.

Of course, co-purchase options can be applied to any unit at Prairie Spruce Commons and not just unit 301. Co-purchasing is just one idea for creating more affordability in cohousing that is available to prospective members. If you are interested in joining our community and would like to learn more about ideas for affordability, send us an email or post a comment below. We’d be glad to talk to you about ideas worth exploring!

Dave

Leave a Reply