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.
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.
FULL STORY: Traverse City Real Estate Co-Op Breaks Several Different Molds
Small Business, Co-Op Apartments Mixed Up in New York Bill
The debate about the Small Business Jobs Survival Act continues in New York City.
Opinion: What San Francisco’s Proposed ‘Family Zoning’ Could Really Mean
Mayor Lurie is using ‘family zoning’ to encourage denser development and upzoning — but could the concept actually foster community and more human-scale public spaces?
Maryland Awards $1.25M in TOD-Related Grants
The state’s DOT is funding projects that prepare sites around transit stations for future mixed-use development and housing.
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.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
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?
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.
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.
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.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
planning NEXT
Appalachian Highlands Housing Partners
Gallatin County Department of Planning & Community Development
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie