Artessa Team
• Our Commitment is REAL
• Relationship-Driven
• Engaged
• Authentic
• Leading
• Award-winning
• Minnesota based
• 4,000+ cooperative members served
• 45+ cooperatives developed or financed
Learn About Artessa Cooperatives
What is a Cooperative?
• A cooperative is a form of owner-occupied housing
• Unlike a condominium, a cooperative has 1 master mortgage – each owner is a shareholder to that master mortgage through the cooperative corporation
• Each share has a value equal to both the private residence (unit) the shareholder has exclusive rights to + equal share of all common areas + equal share of the property
• Cooperatives, by design, are a community of like-minded people who share common interests; not a group of owners who happen to live in the same building and are solely focused on what’s behind the door to their Unit 101
• A shareholder/member (could be a couple) must have at least one individual that is 62 or better
• A limited equity cooperative – ease of entry + ease of exit (financially)
• Replacement Reserves for individual residences & common area amenity refreshes
• Principally, buyers looking at any specific cooperative location are buyers at heart any only looking at options to buy not rent
• The price point of this housing choice appeals to a buyer that is selling a home in a community in which they intend to stay
• Strategically located in walkable neighborhoods where goods and services are within a 5 - minute walk or 2 - minute drive
The Artessa Difference
Location is everything
Boutique, walkable and amenity-rich neighborhoods to fit your lifestyle, in a space that effortlessly feels like home.
Designed for you
Community interiors and home finishing options are designed and selected by an award-winning design team.
Pride of ownership
Living designed to give you more with ownership & investment and real community.
LOCATION IS EVERYTHING
Location is Everything
Location is Everything
Villas
Residences
RUSTIC RESORT
Resilient Materials Wood Tones
Individualized Design
Enhanced Landscaping
DESIGNED FOR YOU
RUSTIC RESORT
Rich Textures
Warm Wood Tones
Elegant Detailing
Relaxing Vibes
GRAND LOBBY & FIRESIDE LOUNGE
This cozy, lodge-like retreat will warmly welcome you to the community
FITNESS STUDIO
From weights and cardio to yoga and stretching, achieve your goals here
THE RESERVE
Gatherings are made easy with a full kitchen and ample seating
THE SOCIAL
Entertain grandkids at the arcade table, play pool, or watch your favorite sports in style
PICKLEBALL
Meet up with friends and neighbors for casual games or form a league
THE TERRACE
Enjoy fresh air with firepits, grill stations, and more in your outdoor living room
GUEST SUITES
Guests can enjoy an overnight stay in the two fully -furnished guest suites just steps away from your residence
Your Personalization Journey Browse Design Studio and Tour Existing Communities Design Personalization Meeting Exploration Tours Move - In! Finalize Selections 1 2 3 4 5
DESIGNED FOR YOU
Work with the Artessa Design Team to personalize your new home with confidence
Residence Features
• 9’ Ceilings
• Keyless Residence Entry
• Stainless Steel Appliances
• Full-height pantry with rollouts
• Walk-in Closets
• Maintenance-free deck/patio
• And more…
PRIDE OF OWNERSHIP
The Benefits of Cooperative Ownership
Limited Equity Cooperatives
40 - Year Fixed Rate Master Mortgage Ease of Entry/ Ease of Exit
Provides certainty in an ever-changing marketplace Held in the name of the Cooperative and insured by the Department of Housing and Urban Development – low interest rate
Resale of homes through a cooperative maintained waitlist of future owners
Artessa Membership Journey
Cost of Ownership
• Buy-In Share Payment:
• Share payments are personally financed and provide equity to secure the cooperative’s mortgage among shareholders
• Monthly Membership Fee: A correlating monthly payment which pays for operating expenses
Monthly Membership Fee
* Above is for illustration purposes only
A
B
Member’s contribution to principal, interest and mortgage insurance premium on the master 40-year fixed-rate, HUD-insured mortgage.
C
Assessed real estate taxes for individual unit.
D
Required reserves to cover an operating reserve fund, as well as future replacements such as roof, carpeting, appliances, etc.
E
Contribution to community utilities; water, sewer, trash, recycling, natural gas, electricity, TV and internet.
Management and administration, including on-site staff, maintenance, groundskeeping, legal auditing, bookkeeping, property & liability insurance and more.
Monthly Expense
Electricity
Natural Gas
Personal Property Insurance (H06 policy)
Trash & Recycling
Water & Sewer
Cable TV & High-Speed Internet
Property & Liability Insurance
Real Estate Taxes
Lawn Care & Snow Removal
Home Security System
Reserves for Replacement***
Single-Family Home
For both personal residence and common spaces
Other Misc. Maintenance & Operating** Total Monthly Operating Expenses
Total = $1,133
Minimal Additional Costs
Member's Responsibility
• In-Residence Electric
• In-Residence Gas
• Personal Property Insurance (HO-6 Policy - approx. $300/yr)
Buying a Share
• Each Residence Plan has a “Share Payment ” and “Monthly Member Fee” amount
• The same Residence Plan may have slightly different Share Payment and Monthly Member Fee depending on which floor it is located on
• Total Share Payment amount is paid in 2 parts – initial and final –based on Artessa milestone events
Share options to fit your price point
• A benefit to buying early: First Members establish the share payment option that is most comfortable for them
• Choosing a higher share payment option results in a reduction of the monthly fee
• Resale is based on the selected share payment option and remains the same through the life of the mortgage
You’ll Find Everything You Need
• Personal Wi-Fi and Cable TV
• Grilling Stations
• Secured Bike storage
• Heated Parking
• Car and Pet wash
• EV charging
• Pet-Friendly
Maintenance-Free Benefits
Leave the work to us
• Reserves for replacement of major building and in- home components such as:
• Flooring
• Appliances
• HVAC
• And more!
• Maintenance
• Lawn care
• Snow removal
• Exterior window washing
• Appliance Maintenance
• HVAC Maintenance
• And More!
Maintenance-Free Benefits
Spend more time doing what you love
• Traveling
• Visiting with friends/family
• Hobbies & Clubs
• Volunteering
• Outdoors & Wellness
Ease of Exit
• On-going community showcase and marketing campaigns
• Management contacts active Waitlists
• Buyer pays the seller the share payment and assumes the monthly member fee
• No closing fees or real estate commissions necessary
WHY RESERVE NOW?
Benefits of Reserving Now
• Preconstruction pricing
• Select your residence
• Most personalization options
• Get to know your future neighbors
Get Moving!
• Complete a reservation
• Receive a priority number
If you’re not early, you’re late
More than just your next home
• Built-in social network
• Personalized home to match your taste and style
• Robust amenities that serve as an extension of your home
• Have a voice in your community
• A simplified life in your prime
