What’s the difference between a cooperative and a condominium?

A condominium usually has limited common areas and the owner of a condominium apartment is totally responsible for the repair and replacement of everything that is inside their apartment. There is an association but there is often little structured to build relationship among the owners.

A cooperative, as an association, owns everything in the facility including all appliances, cabinetry, plumbing fixtures and floor coverings in all of the private living units. It is the association’s responsibility to service, maintain and replace all of these items within ones cooperative living unit. The cooperative association, which is totally controlled by the owners, facilitates many different activities that encourage personal relationships. Coops have more common use areas for the owners use than other apartments or condominiums. This makes cooperative living the friendliest and most hassle free type of personal ownership living for active adults. It’s a great place for the empty nester to enjoy a lifestyle of freedom and friendships.

How is a cooperative residence purchased and what are the costs?

The ‘Share Cost’ is a one time purchase with the cost based on the price of the cooperative apartment in which the Share Owner (you as a new owner/member) wants to live. This one time cost may be paid for totally or may be financed. You, as the new Share Owner, decide what is the best way for you to purchase your new home. The financing flexibility is one of the innovations that has set Cardinal Pointe above most other cooperatives.

The Share Owner pays a ‘Monthly Service Fee’. This fee includes real estate taxes, all operating expenses, professional management by Presbyterian Homes & Services, interior and exterior maintenance, all utilities (except for personal electricity and telephone). A basic TV programming package is also included in this Monthly Service Fee.

How does a Share Owner sell their unit and is the purchase price of the Share Cost returned to the Share Owner?

The Share Owner’s total Share Cost is returned with a predetermined increase to the Share owner or the Share Owner’s estate upon written request and after the sale and closing of the unit has been completed. The Share Cost has “real value” and is resold through the cooperative association.

What makes Cardinal Pointe of Oakdale stand out as a premier adult housing cooperative?

There are several issues that make Cardinal Pointe of Oakdale the right place for the active adult.

• Location – close to grocery shopping, Bergen Plaza shopping, several restaurants, banks, library, medical offices, ease of access to the interstate and walking distance to parks
  
  
• Setting – developed on a heavily wooded lot with good curb appeal
  
  
• Security – state of the art, electronic key fob entrance system
  
  
• Development Team – Sentman Enterprises, Inc. has the experience and the heart that cares for the people served without having to support a large organizations profit structure
  
  
• Management – Presbyterian Homes and Services has more years of serving the seniors of the community than any other cooperative developer
  
  
• Continuum of Care – because of the relationship with Presbyterian Homes, Cardinal Pointe of Oakdale is the only cooperative in the area that is part of a Continuum of Care which gives priority entrance into all of Presbyterian Homes’ assisted living and nursing home facilities

How can I get more information on Cardinal Pointe of Oakdale?

We are anxious to show you first hand Cardinal Pointe of Oakdale, and are available Monday through Friday, 10:00 AM to 3:00 PM or by appointment. An appointment is encouraged to allow our marketing staff to be available for your personal tour. Our phone number is 651-578-0650.

How is an apartment home purchased in Cardinal Pointe of Oakdale?

Tour Cardinal Pointe of Oakdale and select the apartment home of your choice. A reservation deposit of $500 will hold your selection while you proceed with the purchase process. Call 651-578-0650 and discover just how easy it can be to make Cardinal Pointe of Oakdale your new home.

For secure living with less hassels, please call 651-578-0650 today!