Why Does a Coop Model Increase Affordable Housing Stock?
A Coop Model Benefits Both Industry and Community.
Best practices and affordable housing solutions will increase affordable/workforce housing stock. Currently the cost-burden created by some of the state’s most expensive home pricing impacts a family’s access to healthy food, healthcare, and education.
A lack of workforce housing impacts employers’ ability to sufficiently staff its operations. By offering stable, healthy and affordable housing, individuals and families are on the path to generational wealth and are able to plan and prepare for successful futures.
The Coop model would bring access to land, materials, lending and every step of the build process together, creating opportunities for lower costs and enabling a profit margin that incentivizes entry into this critical needs market.
Who is part of the Coop?
If you agree that affordable housing is imperative in Western Wisconsin, join us!
The Coop will initially serve the following counties: Dunn, Pierce, Pepin, Polk, St. Croix. Further expansion may include Barron and other counties in the state’s Western region.
Who should be involved in the Coop?
- Advocates and partners in creating affordable workforce housing options in Western WI
- Potential members of the Cooperative (subcontractors, developers, realtors, etc.)
How does the Coop model work?
Collectively reducing cost, serving more people and building your business.
Goals include procurement of land for in Western Wisconsin. WWHC partners will develop and construct the housing unit(s) at a lower cost, which will allow the WWHC to sell the home to an individual or family meeting determined income restrictions. The benefits include guaranteed work that comes with each project, as well as serving as an active participant in the creation of new affordable housing options.
Consultant Work
SWIM consultants are guiding development of this model.
Jordan Vernoy and his team from SWIM (See What I Mean) are helping guide development, research, feasibility and need for this work in the marketplace. Some of the deliverables include development of an organizational structure, a business plan, bylaws, market research, potential membership structure to include vendors, contractors, municipalities, governmental partnerships, financial institutions, economic development partners, service organizations and others as found through research. Further exploration of financial projections, needed capital and staff (executive director) are also part of this work. We are grateful for their expertise and guidance. You can reach Jordan at jordan@seewhatimean.com
Fuding for the Coop Development
Special thanks
Funding for development and research of this coop was generously granted from Wisconsin Economic Development Corporation, Compeer Financial, and Momentum West.
Housing Toolkits
Momentum West is partnering with economic development partners to create a centralized spot for housing development. The housing toolkit provides valuable information and links for potential homeowners, communities, and developers looking to build a single-family home, multi-family home, or development within the ten county Momentum West region, as well as access to current housing studies conducted in west central Wisconsin.
Get Involved
If you know of others who would like to be part of this work, please email Kristie Smith at executivedirector@scvhabitat.org or call 715-350-8575 ext. 1.
Our Partners
