Implementation Strategies
Explore effective strategies for financing, building, and developing successful housing co-ops and land banks.
Project Overview
Explore our innovative implementation strategies for successful projects.
Financing Issues
Choices
5% of capital cost member loan
Higher initial outlay
Lower rents
Lower risk
4 months rent
Lower initial outlay
Higher rents
Increased risk
Community bonds for short term capital
Long amortization
Reserve funds
Types
Building Spaces
Post and beam mass timber construction (no load bearing interior walls)
Factory assembled components (walls and floors (bathrooms? kitchens?))
Small number of sizes
Current theory suggests:
25x40 3 story, 2 1 beds (450 sq ft) 2 2/3 beds (900 sq ft) (semi detached)
30x50 3 story, 2 2 beds (700 sq ft) 2 3/4 beds (1,400 sq ft)
40x40 3 story, 2 2 beds (750 sq ft) 2 3/4 beds (1,500 sq ft)
Assumes stairs and elevator are outside the basic box
Consistent delivery schedule for long term planning
Building Spaces
Development co-op
The members of the development co-op are the people on the wait list.
The co-op determines where and what to build.
There is an escrow account that holds the member loan money.
Money is deposited in a low risk investment vehicle.
Returns are deposited in the escrow account.
No lock in, may leave at any time, access to money is by the rules of the investment vehicle.
There is also a member loan, in general, this will be returned to people leaving the co-op (either by joining a housing co-op or leaving the wait list). However, this is not guaranteed.
Not-for-profit (preferably Indigenous)
Gets a loan
Buys the land, leases to the co-op (lease terms match the loan)
Legalities need checking on land transfer tax
Land trust
When a building is done people on the waiting list with enough money to cover the member loan are elegible to join the new co-op.
They must pass an orientation interview.
Initially this will be done by the development co-op, later by the housing co-ops.
People who sell the land to the land trust are first in line to join the co-op.
Transition
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