Village Cooperative of Alexandria starts constructionOn Wednesday, January 26 at the Village Cooperative of Alexandria member meeting, Andrew Schaeler, vice president of Real Estate Equities, announced that the project financing has closed, meaning that the final construction phase at the Washington School property would begin immediately.
On Wednesday, January 26 at the Village Cooperative of Alexandria member meeting, Andrew Schaeler, vice president of Real Estate Equities, announced that the project financing has closed, meaning that the final construction phase at the Washington School property would begin immediately.
The Village Cooperative of Alexandria will consist of 28 new homes within the existing Washington School structure. A substantial renovation of the existing structure will create a renovated historic building within an existing Alexandria neighborhood.
Residents will have the choice of one, two and two-plus bedroom, single-level homes that range from 749 to more than 1,525 square feet of living space. Each home is maintenance-free and each includes a laundry room, storage area and a private balcony or patio.
Proposed community features include multiple community rooms, fitness room, guest suite, woodworking shop, landscaped gardens, free wireless Internet, secure entrances, heated parking garage and car wash.
Local businesspersons Pat Ellingson, Tom Hills and Scott Johnston agreed to purchase the Washington School property in 2008 and are partnering with St. Paul-based Real Estate Equities to develop the project. Local architect Paul Ringdahl is the project architect and Alexandria-based Tradesman Construction is the general contractor for the renovation.
“Our company started developing cooperative communities in 2004 because we saw the desire for this type of dynamic lifestyle. These communities give adults 55 and over, around the Midwest, the option of a hassle-free lifestyle in their home with the amenities they desire,” said Keith Jans, president of Real Estate Equities Development, LLC.
As a cooperative, the members control every aspect of ownership. The cooperative will also employ an on-site resident services coordinator as well as offer concierge and courtesy services.
Hugh Myers is the sales coordinator for the Village Cooperative and has a sales office located at 1402 Broadway Street, Suite 3, Alexandria.
For more company information, visit www.villagecooperative.com and www.reedevelopment.com.