S3 Episode 12: Things developers think about cohousers

In Episode 12 Kelli Soika and Lynn Morstead pick back up on their earlier conversation with Danny Milman, Development Manager at Urban Development Partners. They talk about the 7 things developers think about cohousers. Lynn and Kelli compiled lists of what they think developers think about. Danny brings the truth. 

After the podcast, Danny shared with us her list of what a cohousing group brings to the development from a developer’s point of view.

In sequential order as it comes into play in the project:

1. Early money – land, due diligence, design
2. Focus group for the design (smaller units, ganged parking, extensive common facilities)
3. Group support at entitlements (vs. just a developer or architect)
4. Marketing & Sales 
5. Focus group for the bank / Presales
6. Equity funding for construction 
7. The intangible – doing good by building community

 And here is how the different development models take advantage of the benefit of having a cohousing group in the mix: 

• UDP’s model takes advantage of all 7.
• Cohousing Partners (Jim Leach & Katie McCamant) put up some of the funds for #1, but then brought the group in.
• The Belgium developers at the cohousing conference skip the first 4 and then bring in buyers (and their money) just before construction.
• The British developers are bringing in funds for the #1, but still deciding on the remainder.

For more information about cohousing in Houston, please check out our website at www.cohousinghouston.com. Let us know if you have any comments or ideas by emailing us at info@cohousinghouston.com.