More about us . . .

Riverdale Housing Co-op was founded and incorporated in the spring of 1981 and first occupancy followed in September of 1982. By December of 1982, all 26 units were fully occupied.

Since then, the Riverdale Housing Co-op has given many current and past members stable, affordable and comfortable housing. With the price of housing soaring in recent years, a housing co-op is an excellent alternative to ownership or rental housing.

When joining our housing co-op, you will be asked to sign an occupancy agreement which stipulates your rights and responsibilities. With this agreement, we promise incoming members stable housing and ask that the member participate in the running of the affairs of our co-op. Participation comes in the form of attending general membership meetings, serving on a committee and assisting in project work when needed. This can amount to approximately 3 - 4 hours of work per month.

The Basics of Co-op Housing (from our member handbook) . . .

"You are a member of a housing co-operative and this Membership Handbook provides you with a list of the rights and responsibilities you have. But, what are the basic ideas behind a co-op? What makes a co-op different from other forms of housing?

(a) A co-operative may be defined as people associating in a group to to provide themselves with goods and services they could not get on an individual basis. Such a group shares rights and responsibilities equally and thus retains democratic control.

(b) Co-operation combines two important themes which are often thought to be opposed. It respects the personal freedom of the individual as well as protecting the interests of the entire group.

In our co-op, we want "to provide affordable, aesthetic and energy efficient housing" (as our Memorandum of Association states), to divide the work among our members (defined by the membership participation criteria), and to control the future and fate of our association "by the membership in the membership meetings." We strive for a genuinely democratic way of making decisions.

Some general principles have been derived from this basic idea:
- Membership in a co-op is open to anyone who is willing to accept co-operative principles. In particular, nobody will be excluded by virtue of his or her race, religious beliefs, sex, sexual orientation, political opinions, marital status, nationality, ancestry, place of origin, or age.
- Control over all decisions made in the co-operative is intrinsically democratic in two senses: Each member has one and only one vote regardless of the number of shares held. Members of the Board of Directors can be recalled by a two-thirds majority at a general meeting.

A co-op is not operated to create a profit, thus the return on capital invested in the co-op is limited to that amount. Because there is no necessity to make a profit, housing charges can be such that they just cover the cost of the project.

In connection with the democratic form of control mentioned above, no arbitrary increase in housing charges is possible. If, however, a surplus is earned, it belongs to all members and can not be taken out by a parting member. To create an understanding of these principles the co-op should provide for the education of members and the general public. . . . Finally as a co-operative, we can further our ends if we work closely with other co-operatives at local, national, and at international levels.

Thus, members of a co-operative are incorporated into a new system of ownership; rather than individually own a certain property, you participate in owning the entire co-op project. Rather than passing your power over to a "mighty landlord" who is only interested in making profit from you, you share your power with people of similar interests and keep control over one essential in life - housing - in your own hands. It is a step away from the profit and power-oriented society of today to a shared and secure community of tomorrow."