A housing cooperative is a legal corporation. Members of the cooperative live in and run the cooperative community. The cooperative owns the land, the buildings, and any common areas. Members buy shares in the cooperative entitling them to live in a specific unit. View Living In A Co-Op for detailed information about co-op living.
Royalwood is comprised of 9 buildings and 98 units with 1 and 2 bedroom apartments and 2 bedroom townhouses. Monthly carrying charges range from $404-$485 per month and include gas, water and one designated parking space. Members own the cooperative together and have the security of being able to remain in their homes for as long as they wish, as long as they meet their monthly obligations, and abide by the co-op bylaws, rules, and regulations.
The property has had several major renovations in the last 15 years. New windows, new roofs, insulation in the attics, new kitchens and we are currently in the process of updating our electrical systems. We are very proud to be a mortgage free property so our carrying charges can go to maintenance and capital improvements. We also have a full-time maintenance supervisor to help keep our buildings in good working order.