Ask the residents of Melrose Terrace why they they live here, and you’ll get a host of answers.
The building features many amenities, including: the hobby shop, library, kitchen, social room, indoor heated pool, and rental guest apartment. There is ample parking with three underground garage levels and two outdoor lots.
Conveniently off I-5 and directly on a bus line, building residents can easily get to where they need to go. The building is smoke-free and cat-friendly. Incoming residents pass a background check that includes criminal history to assure continued security for all members of our community.
Melrose Terrace thrives on a community atmosphere. Flex your green thumb along side other members of the gardening committee. Social committees organize building events, such as pumpkin-carving and holiday decorating. Once a year, neighbors get together to host a building-wide garage sale. Regardless of your interests, there is plenty of opportunity to get to know your neighbors and to help make Melrose Terrace an even better place to live.
It is by attending and voting in the shareholder meetings that residents control the operations of the cooperative.
What Is a Housing Cooperative?
A housing cooperative is formed when people join with each other on a democratic basis to own or control the housing and/or related community facilities in which they live. Each month shareholders pay an assessment that covers their share of the operating expenses of their cooperative corporation. Personal income tax deductions, lower turnover rates, lower real estate tax assessments, controlled maintenance costs, and resident participation and control are some of the benefits of choosing cooperative homeownership.