Mixed-Use Co-Op Demonstrates a New Ownership Model

Owned by its tenants and local community members, Traverse City's Commongrounds Cooperative will feature a craft distillery, a food hall, and a childcare facility, among other amenities.

1 minute read

November 8, 2021, 6:00 AM PST

By Diana Ionescu @aworkoffiction


According to an article by Oscar Perry Abello, a new mixed-use cooperative complex in Traverse City, Michigan provides a novel example of a distinct type of ownership and financing that seeks to counter the 'extractive' practices that dominate the real estate market by putting ownership in the hands of the local community.

Slated to open in early 2022, the Commongrounds Cooperative "is owned by a combination of the commercial tenants that will occupy it once it opens and members of their community — their customers, employees and other supporters as well as the residents once they move in," writes Abello. "It’s located along Traverse City’s 8th Street corridor, which the city wants to revitalize with new businesses and housing, with a focus on bike and public transit."

Commongrounds presents a unique twist on the cooperative model, popular with residential buildings but uncommon in mixed-use and commercial projects.

Abello's article details the process of financing the project and the nontraditional routes taken by the co-op's members to bring together the necessary capital through a variety of loans and investments. 

Friday, November 5, 2021 in NextCity

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Aerial view of town of Wailuku in Maui, Hawaii with mountains in background against cloudy sunset sky.

Maui's Vacation Rental Debate Turns Ugly

Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

July 1, 2025 - Honolulu Civil Beat

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 9, 2025 - Diana Ionescu

Map of Haussmann's redesign of Paris in the 1850s through 1870s under Napoleon III.

In Urban Planning, AI Prompting Could be the New Design Thinking

Creativity has long been key to great urban design. What if we see AI as our new creative partner?

June 30, 2025 - Tom Sanchez

View of dense apartment buildings on Seattle waterfront with high-rise buildings in background.

King County Supportive Housing Program Offers Hope for Unhoused Residents

The county is taking a ‘Housing First’ approach that prioritizes getting people into housing, then offering wraparound supportive services.

4 hours ago - Real Change

Aerial view of suburban housing near Las Vegas, Nevada.

Researchers Use AI to Get Clearer Picture of US Housing

Analysts are using artificial intelligence to supercharge their research by allowing them to comb through data faster. Though these AI tools can be error prone, they save time and housing researchers are optimistic about the future.

5 hours ago - Shelterforce Magazine

Green bike share bikes parked in a row on a commercial street with outdoor dining and greenery.

Making Shared Micromobility More Inclusive

Cities and shared mobility system operators can do more to include people with disabilities in planning and operations, per a new report.

6 hours ago - Cities Today