A housing cooperative (a co-op) is a corporate entity used to purvey homeownership to its shareholders.  The corporation owns the physical real estate and the individual shareholder possesses the right to occupy a designated unit within the co-op. (The designated unit is usually referred to as “your apartment”).

 In addition to right of occupancy, shareholders set the policies of the co-op and control its business.  The shareholders accomplish their control of the co-op by electing a Board of Directors from the general membership to represent their interests.  The Board of Directors is responsible for the co-op’s business decisions.  They oversee and are responsible for the operational and financial well-being of the co-op.

Friends Housing Cooperative is currently run as a “Limited-Equity Cooperative”.  The specific low purchase price for each individual unit is based upon the number of shares designated for that unit.  This purchase is provides capital to our co-op. Annually, every unit accrues an additional stipend which is added to the shareholders equity in the unit.

Most importantly, the Friends Housing Cooperative is our home.

For more information concerning local Philadelphia area housing cooperatives, click on this link www.DVAHC.org  to visit the website of the Delaware Valley Association of Housing Cooperatives.