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A housing cooperative, or housing co-op, is a legal entity which owns real estate consisting of one or more residential buildings. The entity is usually a cooperative or a corporation and constitutes a form of housing tenure. Typically housing cooperatives are owned by shareholders but in some cases they can be owned by a non-profit organization.
The legal structure is typically a homeowner association or housing cooperative, [7] and some use community land trusts. [8] To promote the common good, cohousing members regularly share meals, attend meetings, and participate in community work days. [9]
A housing cooperative is a legal mechanism for ownership of housing where residents either own shares (share capital co-op) reflecting their equity in the cooperative's real estate or have membership and occupancy rights in a not-for-profit cooperative (non-share capital co-op), and they underwrite their housing through paying subscriptions or ...
Multifamily residential, also known as multidwelling unit (MDU), is a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex. [1] Units can be next to each other (side-by-side units), or stacked on top of each other (top and bottom units).
A student housing cooperative, also known as co-operative housing, is a housing cooperative for student members. Members live in alternative cooperative housing that they personally own and maintain. Members live in alternative cooperative housing that they personally own and maintain.
A building co-operative is a co-operative housing corporation where individuals or families work together to directly construct their own homes in a cooperative fashion. Members of this type of co-operative purchase building materials in bulk and co-operate with other members of the co-op during the construction phase of the co-operative.
Under this law, the city of New York is able to sell buildings directly to tenant or community groups to provide low-income housing. Many HDFCs were created through a process of co-op conversion of a foreclosed, city-owned property. As of 2008, over 1,000 HDFC cooperatives have been developed in the city. [1]
A consumers' co-operative is an enterprise owned by consumers and managed democratically and that aims at fulfilling the needs and aspirations of its members. [1] Such co-operatives operate within the market system , independently of the state, as a form of mutual aid , oriented toward service rather than pecuniary profit. [ 2 ]