1. Buyers — pre-qualified buyers means less risk. Why not build communities where future residents are already signed up? In these days when spec building is frowned on by banks, why not pre-qualify and basically pre-sell units? Banks are more likely to finance pre-sold projects.
2. The Market— it seems that developers are always guessing, “What does the market want.” How many millions of dollars go into trying to answer this question and yet only 70 percent of the answer is ever correct. Why not ask the market directly? Why look in the rear view mirror when the market you care about lies in the future.
3. Powerful entitlement allies — there’s nothing like a group of motivated, articulate future residents who, interested in developing a new cohousing community, help get a project through the local approval process (even a project larger than their own. See #6 below). These organized, voting members of the community are extremely effective in getting elected officials to listen and act on their project. It’s the number one reason that in 50 projects we’ve only had one turned down.
4. New development model — Cohousing communities include a number of characteristics that are a model for future sustainable development: walkable neighborhoods, proximity to services, mixed-use, green building features, design elements for social interaction, etc.
5. Sustainability – a lot of people are talking about green. Cohousing clientele are more likely to readily implement low energy use (last year my electric bill was -$83.84), to use materials with low toxicity, and to reduce their carbon foot print (driving less, walking more, staying within the community to socialize).
6. Success breeds success — Cohousing communities anchor the success of a new neighborhood. In a recent case, Elitch Gardens in Denver, Colorado, where a new 32-unit cohousing community successfully energized the social and marketing efforts of a much larger development of many hundreds of units.
7. Reduced risk of a lawsuit — these folks are essentially co-developers. Together you are motivated to build a great project – and give each other the benefit of the doubt when it comes to intent and remedy and the professionals working for cohousers feel much more accountable and work harder to do a better job.
8. Equity – A cohousing group brings equity in the way of early investments to the table.
9. Much smoother, more predictable development. With the more players you have to stay organized and deliberate.
10. Much lower risk — much better profit protection.
11. Gratification — there’s nothing more gratifying for a builder than meeting a group of people who want a village, building it for them, and then seeing a life between the buildings that is rarely seen elsewhere.