4350 Arriba Ave
Loveland, Colorado 80538
970-699-5454
LovelandVC@Paramark.us
villagecooplovelandco.com
facebook.com/villagecooperativeofloveland
Come to our OPEN HOUSE
May 5th, 2:00 - 4:00pm
Guided Tours and information about
the advantages of cooperative living.
Join our wait list and you will be notified when units become available.
An Affordable Alternative to Home Ownership
Cooperatives are growing in popularity thanks to the social and financial benefits they provide. In 2021 the Village Cooperative of Loveland opened its doors with 58 units in a beautiful 3 story building complete with balconies and underground heated parking. The Village Cooperative of Loveland is home to over 85 members.
The Loveland community is a wonderful place to call home. Featuring professionally designed, open concept, one and two bedroom homes, each one has its own private laundry room, ample storage closets, and a spacious balcony. Maintenance issues are handled at no charge, by our staff handyman. When friends come from out of town, they can stay right in the coop, in one of our two guest suites. When they arrive, you’ll greet them by the fireplace, with comfortable chairs for a warm welcome.
About 55+ Cooperatives
Cooperative housing combines the financial advantages of home ownership with the convenience of community living. One of the key features of a coop is joint ownership of the property. Share owners - or Members - are part of a cooperative corporation, which owns the building, the land, individual homes, and common areas. The share's value is based on the size, and location of the unit within the building. Members pay a monthly fee, which covers all operating costs -- the mortgage, taxes, insurance, reserves, housekeeping and utilities for the common areas, and snow removal/lawncare.
When a member moves out, it’s rare for the real estate market to be involved. Instead, a wait list exists, with names of seniors who want to buy into the community. The value of each share increases by 3 percent each year, so any resident choosing to leave gets a return on his/her share investment. The Marketing Committee makes the larger Loveland city residents aware of the value of our lifestyle and building assets, to build and maintain the waiting list. Then, when a buyer from the wait list is qualified, the building manager handles the details of the transaction, with no closing costs to either party.
The Village Cooperative of Loveland is a democracy, governed by a Board of Directors consisting of residents, elected by their neighbors. Each equity share enables members to occupy one unit and receive one vote when electing the Board. The Board meets monthly, and oversees the policies, expenditures and operations of the coop.
Committees manage the details of coop life, such as overseeing the upkeep of the common areas, outdoor maintenance of the building, coop finances, and activities such as Saturday night movies, social gatherings and potlucks. Participation in the committees and attendance at Board workshops and meetings provide our residents the opportunity to contribute to the life of our village, while developing lasting friendships.
“The best part of coop living is knowing I’m surrounded by caring friends.”
Frequently asked Questions...
What is a cooperative?
A cooperative is a not-for-profit corporation that is owned and operated by its members. Members purchase an equity share and contribute to the maintenance and management of the building and grounds.
What are the costs associated with living in a cooperative?
Under Colorado law, there are 2 main costs associated with becoming a member of a cooperative: The EQUITY SHARE PURCHASE is a one time payment that is based on the size of the unit and its location in the building. The second cost is the monthly fee.
What is the monthly fee?
The monthly fee is about one percent of the share price. It covers the mortgage, insurance, taxes, reserves, and salaries for our manager, housekeeper, and maintenance man, as well as upkeep of the grounds, and utilities for the common areas.
Are there closing costs?
No, there are no closing costs. Members pay their share price at closing.
Are meals or transportation available?
No. The Village Cooperative is an independent living community for adults 55 and older. There are no meals, transportation or medical services offered.
What happens when I sell my share?
When a member is ready to leave the coop, the building manager will begin by asking current residents if anyone is interested in purchasing the upcoming share. If not, the manager will begin contacting the “external wait list” to find a buyer. When the buyer has qualified, the manager handles the paperwork, and no realtor fees or closing costs are incurred for either party. The value of each share increases by 3 percent each year, so members who sell realize an increase on their original investment.
Are there eligibility requirements?
Yes. In order to qualify for ownership, all members must meet the minimum age and income requirements. At least one member listed on the Share Certificate must be 55 years or older.
Are pets allowed?
Yes, small pets are allowed.
