Telegraph Herald - Dubuque, IA


 
Thursday, August 13, 2009
Cooperative housing site breaks ground
Developers get to work on the 50-unit senior housing cooperative in Asbury.
Village Cooperative of Asbury: A senior housing cooperative with 50 units at 5297 Grand Meadow Drive, Asbury. Thirty units sold so far. Construction expected to be complete in 10 to 12 months. Real Estate Equities Development, LLC, St. Paul, Minn., is the developer and operator. Epic Construction, Dubuque, is the project's general contractor. By buying a unit, members purchase a share in the cooperative. Each member has an equal vote in electing a board of directors.

ASBURY, Iowa -- It was a day that many in the audience had been waiting two years to see.

Ground was broken Wednesday for a senior housing cooperative where the residents will own shares of and govern the complex.

Within the year, The Village Cooperative of Asbury, a 50-unit housing complex, will open its doors to the "active seniors" who have put down money for a new home where they can have an independent lifestyle, activities and amenities and social interaction with people of a similar age.

"Being around other people is important for maintaining our young-in-spirit attitude," said Janet Durham, 71, who spoke at the groundbreaking ceremony.

Durham and her husband, Paul, were two of the first people to buy into the project after visiting a similar senior cooperative site in Minnesota. "And we can get together when and as often as we want. It is true independence," she said.

Pat Torgler, 72, put her money down on a unit because "it is the right fit" for her.

"This is our time in life to enjoy ourselves. I can't do my own mowing and shoveling any more and I travel a lot; that will be worry-free now," Torgler said.

Asbury City Administrator Beth Bonz welcomed the soon-to-be residents of her community, saying the group "was starting to become a community already," through monthly meetings.

The Rev. Joseph Hauer, pastor of Resurrection Catholic Church, blessed the site, the future buildings and the people who will live there.

Project manager Shane Wright thanked those gathered for their patience with the two-year process of securing funding and obtaining proper permits.

"This would not have happened if a lot of people had dropped out."

Jim Baker, 81, admitted he was often fed up with the delays and ready to pull his money out.

"But today I feel real good," Baker said beaming.


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