Market Rate Pricing
Becoming a member of a co-op is different from either renting an apartment or buying a condo.
In a co-op, you purchase a share of the co-op corporation. The cost of the share is based on the size of the unit. The share entitles you to occupy a specific unit at a specific monthly cost. This monthly cost covers your portion of the mortgage, insurance, taxes, reserves, common utilities, and maintenance. There is no other "association" type due.
Co-ops enjoy the same tax benefits as traditional ownership.
| Unit Type | Square Feet | Share* | Monthly* |
| 1 bed / 1 bath | 698–792 | $32,000–$37,000 | $975–$1,150 |
| 1 bed / den / 1 bath | 1,023–1,271 | $47,000–$59,000 | $1,475–$1,850 |
| 2 bed / 1 bath | 854–1,209 | $39,000–$56,000 | $1,250–$1,750 |
| 2 bed / 2 bath | 989–1,334 | $45,000–$62,000 | $1,450–$1,950 |
*Costs will be finalized prior to accepting subscriptions. PRG reserves the right to change floor plans and pricing.
Affordable Units
Sixteen of the units will have special, more affordable pricing. To qualify for these units, your income must be lower than 50% or 80% of the area median income (AMI):
| 2008 Income Limits | ||
| Household Size | 50% of AMI | 80% of AMI |
| 1 | $28,300 | $45,280 |
| 2 | $32,350 | $52,000 |
Exact terms of the affordability funds have yet to be finalized, but, at a minimum, you must meet the income guidelines listed above and not have sufficient assets (including anticipated home equity) to cover the market rate share price.
| 50% AMI Example Unit One Bedroom, 670 Square Feet |
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| Reservation Fee | Subscription Fee | Balance of Share | Monthly Cost |
| $200 | $800 | $1,050 | $755 |
| 80% AMI Example Unit One Bedroom, 670 Square Feet |
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| Reservation Fee | Subscription Fee | Balance of Share | Monthly Cost |
| $200 | $800 | $5,320 | $972 |
How does this project compare with nearby condo projects?
The recently-built Midtown Exchange and Corridor Flats have similar unit sizes. See how the costs compare.
Now Accepting Reservations
HUD requires that a significant majority of the units must be presold before construction starts. Reservations are currently being accepted. A fully refundable $200.00 deposit establishes the order in which prospective cooperative members can select a specific unit and submit the cooperative equivalent of a purchase agreement, called a subscription.
Those with reservations will also have an opportunity to weigh in on site, building, and unit design as the architectural work proceeds.
Download and print the reservation form. A printed version is available upon request.