Our cohousing project is based on the condominium legal model, and there will be condo dues, which we currently estimate at $0.18 to $0.20 per square foot per month. Volunteer labor may reduce some of the operating costs as compared to a conventional condo project (we hope).
At present, we are estimating condominium dues in the range between $0.18 and $0.20 per share foot. In the first quarter of 2018, we will do a detailed analysis of the condominium association budget, including a capital needs assessment (CNA), so we can provide more precise information about projected condominium dues.
The cooperative elements will hopefully serve to reduce the costs to operate and maintain the building over time as compared to a conventional condominium project.