What is a Co-op?
Cooperative housing communities are an attractive choice for individuals who want the benefits of home ownership without the responsibilities of traditional ownership.
How Cooperative Ownership Works
Cooperative homeowners own a share of stock in the cooperative that leases and maintains the property. Each shareholder is entitled to occupy a specific unit and entitled to participate in the cooperative based on governing documents designed for collective strength and stability. The documents provide ownership structure, collective and individual responsibilities, management and budget guidelines, rules and regulations, all designed to protect the appearance, value and continuity of The Highlands.
Homeowners pay a monthly contribution that covers their proportionate share to the expense of operating the entire cooperative, including property taxes, management, maintenance, insurance, utilities and contributions to reserve funds.
Co-ops at The Highlands
The Highlands’ homeowners are represented by a Cooperative Board of Directors, made up primarily of residents who have very similar lifestyle goals and share in the collective decision-making process that governs the cooperative. There are currently six Cooperative Boards of Directors at The Highlands. The cooperatives provide the structure and platform to ensure well-maintained, financially stable housing in a beautifully landscaped environment.
From financial direction to short and long term maintenance and reserve planning, the cooperative structure embodies strength and stability. The Highlands cooperatives are professionally managed by Grace Management and pride themselves on personalized attention to detail.
Cooperative Management Philosophy
With more than 30 years of property management experience, Grace Management delivers fiscal stability with a sustainable approach to building healthy and vibrant cooperatives. Grace Management remains an industry leader in property management, always on the forefront of new technologies and implementing new process improvements. The Highlands and Dirigo Pines are the “book ends” to over 120 miles of Maine’s legendary Mid Coast. As the largest operator of senior lifestyle cooperative housing in the state of Maine, Grace Management is proud to serve our residents who call Maine home.
Contact us to learn more about the full list of economic benefits as well as social and civic participation opportunities.