Co-op Benefits

Freedom to enjoy life.

Co-op living is designed to give you more, unlike the more traditional options of condos, townhouses, or rentals. As part of a housing cooperative, you and other members own and govern the buildings, land, and common areas. This community of neighbors contributes monthly to cover operating expenses.

What is Co-op Living?

A cooperative is where members collectively own and control the cooperative community in which they reside. Members buy a share in the cooperative corporation, which owns the land, building and common areas. Members receive the exclusive right to occupy a specific residence. There is a member-elected board of directors and professional management to direct and assist in operations ongoing.

The Artessa Co-Op Model

Artessa is a limited-equity cooperative in which initial buyers typically choose among a few share/equity options. Your share/equity option determines your monthly membership fee and serves as a guide for your resale value in the future. With a limited equity cooperative model, members are relieved of the need to secure their own individual financing for their new residence. Limited equity cooperatives provide for steady annual growth of members’ equity at a fixed rate of return of the initial share payment. This ensures that homes remain affordable and marketable long-term.

Tax Benefits

Members can deduct their portion of the cooperative’s mortgage interest and real estate taxes on their state and federal tax returns similar to those benefits of a homeowner. In most instances, cooperatives and their members have the same tax benefits as single-family homeowners.

Owner Benefits

  • Financial advantages similar to traditional homeownership
  • Defined, predictable appreciation
  • Membership in a like-minded community
  • Maintenance-free living
  • Finance options crafted to fit your price point


There are two costs of ownership at Artessa:

1. A one-time share payment (or equity payment).
2. An ongoing monthly membership fee that includes:

This covers principal and interest toward the fixed-rate 40-year fully amortizing master mortgage, real estate taxes, building insurance, operating expenses, operating and replacement reserves, interior and exterior maintenance, professional management, sewer, water, trash, and one underground heated parking garage stall.

Individual members are responsible for their own in-home electric, gas, HO-6 personal contents insurance, and other individual home utilities based on the community. See an Artessa Membership representative for more information.

The Cooperative Difference

Lower monthly costs.

Because cooperatives operate at cost, without profit to an outside owner, monthly member fees are considerably lower than apartment rents. Through a democratic process, members vote on any changes in the monthly membership fee, giving owners control over costs.


Control and Governance of your community.

Cooperatives give each member a voice in the community through an owner-elected board of directors. Apartments are governed by the management company employed to do so. Artessa Cooperative’s governing documents ensure that cooperative homes remain affordable and marketable long-term.

Community stability.

Apartments often have frequent turnover in a given year. Cooperatives have a low turnover of units and will often have a waitlist of future members ready to move in when the opportunity arises, which creates a connected and stable community for years to come.

Pride of ownership.

Many Artessa members move from a single-family residence and see value in being an owner versus a renter.

“My excitement is in the fact that I kind of feel like we’re reverting back to doing things we’re choosing rather than a list of things that need to be done.”
-Missy & John, Members

Condos vs. Co-ops

Greater ownership interest.

Artessa members have ownership interest in the cooperative corporation and its property as a whole, plus the exclusive right to occupy a particular dwelling unit. A condominium owner owns fee title to a dwelling unit plus an undivided interest in the common property of the condominium development, which includes the land and building.

Ease of sale.

Cooperatives assist members to find prospective buyers by growing the waitlist, and no real estate transaction fees are involved. Condominium owners must find their own buyer and the sale is a real estate transaction.