Member Buy-in and Monthly Fees

Member Share Cost

A share belongs to a member until the member or his/her estate offers to sell. The value at the time of the sale is based on the original cost, plus 1% of the value of the unit (established at the initial endorsement of the project mortgage) for each year of occupancy. The 1% limited-equity formula is under direct control of the Cooperative. The Share Cost is increased by the 1% limited equity every September 19th.

*Effective January 1, 2024 the 20% Capital fee due by new members, is based on the Share Cost, or Purchase price, whichever is higher.

The 20% Capital fee shown above is a guideline on the fee based on the current member share cost.

"We were ready for a change after 28 years. We liked the idea of making friends with people that we would have more in common with, and we like that we’re close to our daughter and two grandchildren in Detroit with enough space for them to visit."

~ Bill & Cyndy