Frequently Asked Questions
Secure and satisfying independent living for 55+ seniors
Q: How is a Cooperative financed?
Cornerstone Cooperative has a HUD insured, 35 year mortgage, allowing the building to be constructed and managed for an affordable cost.
Cooperative members are an integral part of the loan commitment process, providing the equity necessary to close the loan by the combined share costs of all members. Share costs represent a one-time payment, similar to the down payment when purchasing a single family home. The share cost varies according to the floor plan.
Q: What makes Cooperatives affordable?
Cornerstone Cooperative is a “limited equity” cooperative. The “limited equity” was chosen because we believe that congregate housing should be viewed as a service rather than a speculative investment. This plan keeps shares affordable.
Q: Are pets allowed?
Sorry, no pets are allowed.
For our senior years, we could not have made a better choice - a desirable location in one of Plymouth's most accessible areas. The warm, friendly atmosphere quickly resulted in wonderful sociability with other residents. The security, cleanliness and upkeep of ..."
Living is enjoyable at Cornerstone Cooperative. The location gives good access to grocery, drugstore and most shopping. I am no longer responsible for outdoor maintenance like mowing, raking and snow removal. The great room and kitchen on main floor are useful ...
I am a person who desires to be alone and enjoy looking out at the wetlands or snowflakes falling. I can close the door and enjoy my unit. If I choose to be social, there are many fun activities to take part in. ...