OUR CO-HOUSING PROPOSAL

In March 2016 the four of us took a weekend away to see if we could put something sensible down on paper about what we wanted to do. We had a boardroom! We used flip charts! This was the result.

March 09, 2016

PURPOSE

To create an interdependent community of people in mid- to later stages of life, aging in place in a shared home.

THINGS WE VALUE

  • Lots of laughter
  • Companionship and accompaniment
  • Sharing meals together
  • Commitment to community practices and values
  • Encouragement
  • Diversity and inclusiveness
  • Shared learning and experiences
  • Growing old together
  • Physical space for personal needs as well as communal
  • Open to accepting each other’s gifts and caring for each other’s needs
  • Hospitality toward one another’s families
  • Being good neighbours in the larger community

WHY NOW?

  • We are intentionally choosing a new living arrangement
  • Growing old together takes time

HOUSING FEATURES

We will establish the community within Toronto.

We imagine an existing home (or former commercial or industrial space) of perhaps 5000-6000 square feet, extensively renovated (probably gutted and redone) or purpose built.

The space would provide private living suites of one or two bedrooms, each with private bath and sitting areas (self-contained but for kitchen); and spacious common areas, including kitchen, pantry, dining and sitting areas.

The renovation will include installation of an elevator and other features to assist with aging in place.

There will be a guest room with ensuite bath.

Location criteria include:

  • High walkability score, ready access to transit
  • Local food shopping and restaurants
  • Trees, park
  • Access to culture
  • Conducive to active lifestyle

FINANCIAL MODEL

Our planning to date has been based on the assumption of a co-op housing model (to be confirmed). Participating in the community requires purchase of a share in the co-op. Each shareholder (individual or couple) has the right to occupy one of the private units and to vote on business matters.

Based on a cursory review of currently listed properties, we assume that accomplishing our goals may be possible within a total capital cost (purchase and renovation) of $2.5 million.

For purposes of illustration, we propose six common shares with a par value of $425,000. This would raise a total of $2.55 million.

Monthly operating costs (TBD) will include:

  • occupancy costs such as utilities, taxes and maintenance, based on a combination of factors such as the square footage of the individual unit and a pro-rated share of the common space;
  • contributions to capital reserve and share redemption funds
  • usage costs such as food.

Those of us coming from condo ownership believe we will see a reduction in fixed monthly costs.

CURRENT STATUS

Two shares committed

GROWING THE COMMUNITY

We are now inviting a broader conversation among people who may find this concept attractive, although we also recognize there are many reasons why this may not feel like a fit.

We hope to identify a small number of people who may wish to join the conversation and explore further. As noted above, the initial partners have identified some of the characteristics that we believe to be of significant importance; we are also open to ways in which additional partners may wish to refine and extend our plans.

Ultimately, we expect to have a total of six to ten persons ready to make a commitment and begin executing a plan.

 

DO YOU HAVE A NAME FOR THIS COMMUNITY?

So far we’ve rejected Sagacity, From Here to Eternity, and A Liver Spot Runs Through It. And then we decided maybe we should let the community grow first, then decide on a name together. Perhaps you have an idea?

ADDITIONAL INFORMATION

  • A web search for “co-housing” will turn up a lot of information about various approaches to this concept. This blog also collects up whatever comes to our attention.
  • The community at www.rarebirdshousing.ca serves as a partial inspiration for this proposal

INTERESTED?

Please contact us, with no obligation of any kind, if you may be interested in joining the conversation.

 

2 thoughts on “OUR CO-HOUSING PROPOSAL”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s