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  55+ Senior Living Community  
 

Senior Community of Friends
This 96-unit cooperative is located at 94th St. and Lyndale Avenue South in Bloomington. We opened in 2004 and are in a great location, with plenty of retail, places of worship and other amenities only minutes away.

Our building offers a spacious great room for member and guest events, exercise room, library, craft room, wood shop, heated underground garage parking, guest room and more.

A Community of Friends

Realife Cooperative of Bloomington on Lyndale is a community of friends, much like a small town in the middle of the city.

Great Room
The 130 residents look out for each other and, like family, they gather regularly for activities - from pancake breakfasts to friendly competition on the Nintendo Wii, to a computer club. In fact, the son of one of the residents commented, "This place is like a college dorm for seniors!" - without having to get up for 8 a.m. classes.

Realife residents are mostly in the 70-85 year old age bracket. Ages range from 55 to those past 90. Several of those residents are very active 90-year-olds. Younger residents find that, by becoming Realife residents, they’ve just got that much more time to enjoy the wonderful community.

The camaraderie is quickly evident to new residents and visitors to Realife. One resident commented, “I'm so glad I moved here instead of staying in my house. I'm never lonely and I can just go to my apartment if I want my privacy. Living here definitely keeps me active and alert.”

One of the newest residents came to last fall’s Open House and bought a unit shortly thereafter. Her reason was that she didn’t want to spend another winter alone in her apartment. She is now one of Realife’s biggest boosters, commenting that she absolutely loves her new home.

 

What is Cooperative Housing?

Cooperative Housing is joint ownership of the facility by the residents of the building. The people living in the building own the shares and each unit has one voting share. The Board of Directors, composed of resident volunteers, is elected by the members and has the official capacity to act for the cooperative. The cooperative approach to housing instills a sense of community and pride in ownership, resulting in a deeper interest in maintaining the property and participating in the many activities planned by the cooperative members.

Realife Cooperative Housing
A cooperative is operated on a non-profit basis. Thus, any increases in monthly housing costs are limited to actual increases in operating costs. The monthly fee is an amount sufficient to meet operating costs, including payment of principal and interest on the mortgage, which is held by the cooperative. Members therefore do not have to carry individual mortgages. Part of the monthly fee is also deposited in a fund for replacement, which will be used to cover the costs of the replacement of appliances, carpets and other structural components in the future.

As a member of a cooperative, you earn equity on your membership each year. You also have the benefit of deducting your portion of the mortgage interest and real estate taxes when you file your income tax return. The building is homesteaded.

 

Our "Members" OWN this Community!

Call our Resident Services Manager for additional information...

Realife Cooperative of Bloomington on Lyndale
9401 Lyndale Avenue South | Bloomington, MN 55420
Phone: (952) 346-8900 | Fax: (952) 346-8901

 

 

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