Question 1

What is a cooperative?

Accepted Answer

A cooperative is an organization where the members have ownership. Cooperative communities for those 62+ combine the benefits of home ownership with a low maintenance, community-focused lifestyle. Each member owns a share in the cooperative's master mortgage.

Question 2

Why should I choose an Applewood Pointe cooperative?

Accepted Answer

Applewood Pointe offers carefree, one-level living that makes it easy to enjoy your retirement years. Just as with a single-family home, you will have pride of ownership and build equity, while enjoying the savings that come with the economies of scale that a cooperative offers.

Question 3

How much does it cost to purchase a home at Applewood Pointe of Eden Prairie?

Accepted Answer

Pricing can differ depending on a variety of factors, including size of home, the share cost percentage selected by the original owner, appreciation since the building opened and home upgrade finishes. Feel free to give us a call, and we’d be happy to share more detailed pricing with you.

Question 4

What’s included in my monthly payment?

Accepted Answer

The monthly payment includes mortgage principal and interest, real estate taxes, operating expenses, lender-required reserves, as well as interior and exterior maintenance, sewer, water, gas, trash and recycling. It also covers liability insurance, legal, accounting and professional management. Fees vary by size of floor plan. Home phone, internet and satellite TV are also included in monthly payment. Members pay for their own HO6 (personal contents) insurance and for electricity.

Question 5

Where will my guests stay?

Accepted Answer

Your guests can stay in your home or in a guest suite. Our cooperative has two guest suites which can be reserved and rented at a very reasonable rate (far below the cost of a hotel).

Question 6

Where is the laundry located?

Accepted Answer

Every home has its own in-home laundry room with full-size washer and dryer. Additional features may include cabinet storage and laundry tub. No more carrying baskets to the basement!

Question 7

Is a storage room available?

Accepted Answer

Every home comes with an additional storage room. Depending on the home, the storage room may be located in the garage, on your floor, or on a floor above or below you.

Question 8

Are meals provided?

Accepted Answer

Applewood Pointe cooperatives do not have a commercial kitchen. However, just like in your own home, you can arrange for food to be delivered.

Question 9

Can I bring a pet?

Accepted Answer

Applewood Pointe communities are pet friendly. You may bring up to two pets (dogs or cats), each weighing 25 lbs. or less. Please contact us directly for more information.

Question 10

How many Applewood Pointe cooperative are there?

Accepted Answer

There are 17 communities which are located in Apple Valley, Bloomington, Champlin, Eagan, Eden Prairie, Maple Grove, Minnetonka, New Brighton, Roseville, Shoreview and Woodbury. Currently, we are serving more than 2,000 adults 55+ and 62+ within our orchard.

Applewood Pointe of Eden Prairie

Frequently asked questions