Intro To Cohousing Development

INTRODUCTION TO
COHOUSING DEVELOPMENT
NATIONAL COHOUSING CONFERENCE 2011
2011 COHOUSING COLLABORATIVE, LLC
IT TAKES A COMMUNITY TO BUILD ONE !

NATIONAL COHOUSING CONFERENCE 2011 2011 COHOUSING COLLABORATIVE, LLC
FROM DREAM TO REALITY
INTRO TO COLLABORATIVE DEVELOPMENT

THE BUSINESS OF DEVELOPMENT LANGUAGE OF DEVELOPMENT CRITICAL SKILLS ALTERNATIVE APPROACHES ORGANIZING TIME, EFFORT & MONEY! NEXT STEPS -- CONTACT US
The Business of Development

Developing a joyous, sustainable cohousing project isnt jus! about building your own home... but about building an entire COMMUNITY, in both the physical and social sense
Development is no! a dirty word, but if i! helps... think of it as Project Managemen!

Blueberry Hill Cohousing Vienna, VA
The Business of Development
The Language of Development

PLANNED COMMUNITY PROJECT MANAGEMENT S U B D I V I S I O N C L U S T E R I N G S U S TA I N A B L E DEVELOPMENT ZONING SMART GROWTH LOW IMPACT DEVELOPMENT LAND USE COMPREHENSIVE PLAN OVERLAY DISTRICT CONSERVATION AREA ENTITLEMENTS EASEMENTS PROFFERS BY RIGHT SPECIAL EXCEPTION FEASIBILITY ENVIRONMENTAL ASSESSMENT DEMOGRAPHICS DENSITY RIGHT-OFWAY DUE DILIGENCE APPRAISAL PROGRAMMING PRO FORMA PERMITS THRESHOLD ACQUISITION EQUITY COST BUDGET COMMON AMENITIES CONSTRUCTION FINANCE SITE CONTROL EXPENSE PROJECT MANAGEMENT CRITERIA CONDITIONS OF SATISFACTION BUFFERS & SETBACKS YIELD STUDIES MARKET UNIVERSAL DESIGN FAIR MARKET VALUE
The Critical Skills of Development

Basic Skills
for Real Estate Development
Physical Design & Construction Finance Legal Marketing
The Critical Skills of Development

Basic Skills
for Real Estate Development
Physical Design & Construction Finance Legal Marketing
Critical 5th Skill

Trust, reciprocity, information, and cooperation
-Robert Putnam in Bowling Alone
for Cohousing Development
Social / Cultural Equity
ITS ALL ABOUT COLLABORATION...

MARKETING LEGAL
Membership Recruiters, RE Agents, Ad Writers, Public Relations & Marketing Consultants Regulatory agencies, Attorneys, Inspectors, Community Governance committee
FINANCIAL
Accountants, estimators, lenders, nancial planners, bookkeepers
PHYSICAL DESIGN/ CONSTRUCTION SOCIAL
Planners, architects, engineers, project managers, contractors Event planners & facilitators, hospitality hosts, neighbors, COHOUSING MEMBERS
ANY DEVELOPMENT PROJECT TAKES A SKILLED TEAM.

Alternative Approaches to Development
Cohousing Development Approaches

SELF-DEVELOPED DEVELOPER DRIVEN JOINT VENTURE

SELF-DEVELOPED
The members of a cohousing group manage all aspects of development.
Time and effort intensive Very high risk Maximum control

DEVELOPER DRIVEN
The developer entity initiates and manages the project on property it controls. The developer sells the project to a cohousing group or individuals who agree to membership in a cohousing group.
Developers timeline (High-Efciency) Developer carries majority of risk Group input focused by developer
on particular decisions

JOINT VENTURE
A cohousing group forms a legal entity, seeks out & partners with a developer, forming a third PROJECT entity to co-create cohousing.
Balanced risk/control Balanced involvement in decisionmaking process
Developer provides project

management
Group maintains focus on growing

community & social equity
COHOUSING JOINT VENTURE
Cohousing Project, LLC
COHOUSING COMMUNITY + DEVELOPER = COHOUSING PROJECT, LLC

a company that you ALL own
COHOUSING JOINT VENTURE

C O H O U S I N G P R O J E C T, L L C O P E R AT I N G A G R E E M E N T MARKETING LEGAL FINANCE DESIGN / CONSTRUCTION MEMBERSHIP / SOCIAL C O O R D I N AT I O N
Cohousing Project, LLC

TA S K S / R E S P O N S I B I L I T I E S
Organizing Time & Effort

Summary of the Cohousing Development Process
5
OCCUPANCY PERMITS & MOVE-IN
LIVING IN COMMUNITY
DESIGN, APPROVALS, FINANCE & MARKET IN PLACE
4
CONSTRUCTION
YOU ARE HERE !

CONTROL A SITE COALESCE A GROUP QUALIFY TO DEVELOP A PROJECT
3
DEVELOPMENT
THE GOAL IS HERE
PREDEVELOPMENT
FORMING COMMUNITY
JOINT VENTURE FORMS HERE


5 Phases of Development
COHOUSING DEVELOPMENT PROCESS >
1. Forming Community 2. Pre-Development 3. Development a) Feasibility b) Design & Approvals 4. Construction 5. Living in Community

1. Forming Community
Learn about cohousing Coalesce a group & grow membership Establish a foundation of social equity Establish community governance Develop communication & decisionmaking skills THRESHOLD: Qualify to undertake the business of developing residential real estate
$ Cost = $100s per member household ALL AT-RISK

2. Pre-Development
Prepare to undertake the business of development Organize resources (human, time, dollar) Establish legal entity Dene & assign project roles & responsibilities Optimize communication & decisionmaking skills
$$ Cost = $100s to 1,000s per member household High Risk
THRESHOLD: Control project site

3. a Development Feasibility
Determine Project Feasibility Physical Financial Legal Market Social DECISION: Yes / No THRESHOLD: All conditions of satisfaction are met to proceed to design
$$$ Cost = $1,000s per member household Moderate Risk - some options for nancing

3. b Development Design & Approvals

Undertake Project Programming & Design Costing & Financing Entitlements & Approvals Marketing Continued growth of Social Equity DECISION: Yes / No THRESHOLD: All conditions of satisfaction are met to proceed to construction
$$$ Cost = $1,000s per member household Lower Risk - increased options for bridge nancing

4. Construction
Manage the Construction Process Prepare Community for Move-In
THRESHOLD: Move-In, Transfer of Ownership

$$$$ Investments To Date = Down Payment / Mortgage Loan Low Risk

5. Living in Community
CELEBRATING
the good life in joyous, sustainable
COMMUNITY!
PROJECT CASH FLOW TIMELINE
HOW DOES THE MONEY WORK AND WHEN ? 4
5
LIVING IN COMMUNITY
CONSTRUCTION
3
DEVELOPMENT
2 1
FORMING COMMUNITY
PRE-DEVELOPMENT

EQUITY + INVESTORS 20 - 30% HOW DOES THE MONEY WORK AND WHEN ? 4
CONSTRUCTION
OTHER PEOPLES MONEY 70 - 80% 5

LIVING IN COMMUNITY
MORTGAGE
3
DEVELOPMENT
CONSTRUCTION LOAN
2 1
FORMING COMMUNITY
PRE-DEVELOPMENT

CONSTRUCTION

LIVING IN COMMUNITY
MORTGAGE
3
DEVELOPMENT
CONSTRUCTION LOAN
2 1
FORMING COMMUNITY
PRE-DEVELOPMENT
9 - 12 MONTHS

CONSTRUCTION

LIVING IN COMMUNITY
MORTGAGE
3
DEVELOPMENT
CONSTRUCTION LOAN
2 1
FORMING COMMUNITY
PRE-DEVELOPMENT
9 - 12 MONTHS
12 - 18 MONTHS

CONSTRUCTION

LIVING IN COMMUNITY
MORTGAGE
3
DEVELOPMENT
CONSTRUCTION LOAN
2 1
FORMING COMMUNITY
PRE-DEVELOPMENT
9 - 12 MONTHS
12 - 18 MONTHS
YEARS & YEARS !

MEMBER CASH FLOW TIMELINE
HOW DOES MEMBER EQUITY NORMALLY WORK ? 4
5
LIVING IN COMMUNITY
CONSTRUCTION
MORTGAGE
3
DEVELOPMENT
CONSTRUCTION LOAN
2 1
FORMING COMMUNITY
PRE-DEVELOPMENT
5
LIVING IN COMMUNITY
CONSTRUCTION
MORTGAGE
3
DEVELOPMENT
CONSTRUCTION LOAN
$100S 1 FORMING COMMUNITY
PRE-DEVELOPMENT
5
LIVING IN COMMUNITY
CONSTRUCTION
MORTGAGE
3 $1000S 2 PRE-DEVELOPMENT
DEVELOPMENT
CONSTRUCTION LOAN
5
LIVING IN COMMUNITY
CONSTRUCTION
MORTGAGE
TENS OF $1000S 3 $1000S 2 PRE-DEVELOPMENT

DEVELOPMENT
CONSTRUCTION LOAN
REMAINING DOWN PAYMENT (EQUITY)

LIVING IN COMMUNITY
CONSTRUCTION
MORTGAGE
TENS OF $1000S 3 $1000S 2 PRE-DEVELOPMENT

DEVELOPMENT
CONSTRUCTION LOAN
TEXT
JOYOUS, SUSTAINABLE COMMUNITY !
ITS THE SOCIAL CAPITAL THAT COUNTS !

COHOUSING COLLABORATIVE, LLC

Through a collaborative process, we offer a multitude of services & valuable tools to help throughout your cohousing project: The Timeline Game Education / Information Sessions Complete Marketing & Outreach Community Development & Growth Workshops Full or Partial Development Consultations Status Information Survey Cohousing Best Practices Whether you are an individual looking for a group to join, a group looking to increase your membership numbers, or a developer wanting to know if cohousing would be the right t for your project our services will meet your needs.
COHOUSING COLLABORATIVE, LLC is a full-service, cohousing development company that consults, partners and develops with individuals, groups or professionals to bring their projects from dream to reality. We embrace the principles of both social and physical sustainable community and hold to the highest of standards ethics, excellence and stewardship.
Follow us!
Join our Virtual Common House: cohousingWorks.com Enjoy our blog: cohousingBlog.com
CohousingCollaborative.com ann@cohousingcollaborative.com Ann: 7036633911
!uilding joyous, sustainable communi"e#


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INTRODUCTION TO

NATIONAL COHOUSING CONFERENCE 2011

2011 COHOUSING COLLABORATIVE, LLC

IT TAKES A COMMUNITY TO BUILD ONE !

FROM DREAM TO REALITY

INTRO TO COLLABORATIVE DEVELOPMENT

NATIONAL COHOUSING CONFERENCE 2011

2011 COHOUSING COLLABORATIVE, LLC

FROM DREAM TO REALITY

The Business of Development

Development is no! a dirty word, but if i! helps... think of it as Project Managemen!

NATIONAL COHOUSING CONFERENCE 2011

2011 COHOUSING COLLABORATIVE, LLC

FROM DREAM TO REALITY

The Business of Development

NATIONAL COHOUSING CONFERENCE 2011

2011 COHOUSING COLLABORATIVE, LLC

FROM DREAM TO REALITY

The Language of Development

NATIONAL COHOUSING CONFERENCE 2011

2011 COHOUSING COLLABORATIVE, LLC

FROM DREAM TO REALITY

The Critical Skills of Development

for Real Estate Development

Physical Design & Construction Finance Legal Marketing

NATIONAL COHOUSING CONFERENCE 2011

2011 COHOUSING COLLABORATIVE, LLC

FROM DREAM TO REALITY

The Critical Skills of Development

Physical Design & Construction Finance Legal Marketing

Critical 5th Skill

for Cohousing Development

Social / Cultural Equity

2011 COHOUSING COLLABORATIVE, LLC

ITS ALL ABOUT COLLABORATION...

Accountants, estimators, lenders, nancial planners, bookkeepers

PHYSICAL DESIGN/ CONSTRUCTION SOCIAL

ANY DEVELOPMENT PROJECT TAKES A SKILLED TEAM.

FROM DREAM TO REALITY

Alternative Approaches to Development

Cohousing Development Approaches

NATIONAL COHOUSING CONFERENCE 2011

2011 COHOUSING COLLABORATIVE, LLC

FROM DREAM TO REALITY

Alternative Approaches to Development

Time and effort intensive Very high risk Maximum control

NATIONAL COHOUSING CONFERENCE 2011

2011 COHOUSING COLLABORATIVE, LLC

FROM DREAM TO REALITY

Alternative Approaches to Development

NATIONAL COHOUSING CONFERENCE 2011

2011 COHOUSING COLLABORATIVE, LLC

FROM DREAM TO REALITY

Alternative Approaches to Development

Balanced risk/control Balanced involvement in decisionmaking process

Developer provides project

Group maintains focus on growing

NATIONAL COHOUSING CONFERENCE 2011

2011 COHOUSING COLLABORATIVE, LLC

COHOUSING JOINT VENTURE

Cohousing Project, LLC

COHOUSING COMMUNITY + DEVELOPER = COHOUSING PROJECT, LLC