In the venerable tradition of the Canadian Cooperative movement, Green Cove Cooperative (GCC) is a group of 100 members who collectively own what would be a consumer ’s housing cooperative. In this case, the product consumed is a condominium-style residence for seniors along with a degree of other members, varying in ages, to make GCC a multi-generational facility.
Cooperative members are owners: as a member of GCC you are an owner. Consumer cooperatives cut out the middlemen. In this case, your landlord is the cooperative of which you are a member. Members vote, can sit on the board of directors, and participate in committees. To whatever degree you get involved – key decision making as a voting member remains in your hands and the hands of the cooperative and not in the hands of a rental holding company, real-estate company, developer or landlord. You are your own landlord: MEMBER-OWNERS*
Above and beyond the traditional consumption in a residence – your occupation of a living space – GCC offers services and many additional advantages for member-owners. Similar style but privately owned seniors’ apartments and condos would cost a whole lot more. By eliminating the middlemen (traditional landlords) any profits from the cooperative accrue to the shareholding members in lower rents and more services: greater spaces for communal living, restaurant, meal plan, parking garage, activity room, common areas, adjacent parkland owned by GCC, and ongoing voluntary use of innovative medical technologies (and related applied research in partnership with Retirement Miramichi, Inc.). However, further than that – GCC members are consciously building upon their commitment to cooperative values not simply as consumers of services provided but are adding a community of like-minded social cooperation.
The key ingredient to this cooperative is not its structure, not member-owners, but a purposeful cooperative sociability. Bonded by our cooperative principles GCC is committed to a vision of not just a well-appointed living space, but a vibrant social community building space. Not discounting any of the following: good nutrition, exercise, great health care facilities, or use of medical technologies – the number one factor related to promoting healthy ageing in place is sociability.
GCC members will be consciously caring, committed, community, contributors. Spaces and services have been designed not only to be environmentally friendly and visually appealing but to promote sociability and interaction. Common areas like activity rooms, restaurant, and foyers will enhance the visibility of members and maximize opportunities for interaction. People will be neighbours on a shared mission of ageing well in place to maximize health, and continue to engage in routine activities with full vitality, functioning well into senior years.
Consciously joining this community, cooperators already know they are making a choice to embrace a new living space while still healthy, as opposed to making a choice when forced on them by declining health. You will be establishing new relationships and friendships and adopting lifestyles promoted from within the community – whether that is being a member of the board or heading up a committee, leading an exercise class, joining a book club, playing bridge or auction 45, building a cooperative garden, or mentoring and volunteering in the greater Miramichi community.
GCC will be a vibrant, health conscious, group of people demonstrating the advantages of a cooperative lifestyle. Are you ready to join?
Finally, Green Cove Cooperative is also a community economic development project. Under the auspices of the New Brunswick Financial and Consumer Services Commission GCC qualifies as a New Brunswick “Community Economic Development Corporation”. This means that your owner-member shares, valued at $10,000.00, are eligible for a tax deduction over a total of seven years or until fully used up (two years of deductions going back and five years forward). Also, you will be entitled to interest on your shares of 5% a year. Further to your owner-member shares, you can purchase additional shares as a personal investment. And GCC will make perpetual economic contributions to our community, as a Community Economic Development Corporation, by being an employer (some full-time, some part-time) – restaurant staff, maintenance staff, unit cleaning staff and personal care support work, etc.
Your GCC membership will not only be a financial boon to you personally in great member-owner controlled rents, and personal investment opportunities, but as a significant economic contributor to the community.