|2550 Sycamore Lane|
|Near the Marketplace Shopping Center|
Dos Pinos Housing Cooperative is a limited equity housing cooperative. They are governed by an elected board of directors and use a management company for day-to-day operations. Owned by the residents, they are shareholders in the not-for-profit corporation that holds a blanket mortgage over the entire property. The not-for-profit cooperative corporation in turn grants leases to each shareholder, giving them the right to live in a home.
There are 60 housing units at Dos Pinos, which include 1 bedroom, 2 bedroom, and 3 bedroom units. All units are attached townhomes, organized into 9 buildings on a shared property. Member households are diverse, including single people, couples, and families with a wide range of ages and backgrounds. The property is located at 2550 Sycamore Lane, and is surrounded by residential housing on 3 sides and the greenbelt on the north side.
Dos Pinos Housing Cooperative offers a form of affordable homeownership in a cooperative community setting. It can be understood as a hybrid between homeownership and renting. Members join the co-op by purchasing a "share" in the cooperative corporation, which gives them the right to live in a unit as well as voting rights within the cooperative corporation. The cooperative corporation then leases a unit to the member. Members must pay a monthly "carrying charge" or assessment which includes overall community costs such as: water, sewage, management fees, maintenence, landscaping, and a share of the overall blanket mortgage. This monthly assesssment is considerably less than rent at a comparable-sized condo or apartment in Davis. The amount of the monthly assessment is set by the co-op board of directors (which is elected from the membership of the co-op). When a member decides to leave, they market and sell their unit for a set price. This set price is based on the original purchase price, plus the value of interest and improvements. This provides a steady return on investment for member households.
Historically, there has been a one to 3 year waiting list, which is the case as of May 2012.
A flyer for a 2 bedroom unit, which was on sale in February 2011, is attached here DosPinos3aflier.pdf.
The Davis City Council first approved the construction in 1984, with the first occupants moving in during the fall of 1985. The members of the cooperative elected the first board of directors and took over ownership of the initial 60 units in March 1986.
To learn more about rental housing in Davis, check out our Housing Guide as well as our Apartments pages.
To learn more about homeownership in Davis, check out the Real Estate page.
To learn more about cooperative housing in Davis, check out Cooperative Housing.
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