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.
Honolulu's Iwilei Center Plans for Redevelopment Into Mixed-Use Space
Striving to expand affordable housing options for Oahu residents, Honolulu's Department of Land Management requests to redevelop the Iwilei Center into a mixed-use space.
NYC Zoning Reform: Where Will It Have an Impact?
The zoning reform package dubbed ‘City of Yes’ will likely yield uneven results, with many of the lowest-density neighborhoods exempted from new regulations.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Why Should We Subsidize Public Transportation?
Many public transit agencies face financial stress due to rising costs, declining fare revenue, and declining subsidies. Transit advocates must provide a strong business case for increasing public transit funding.
Understanding Road Diets
An explainer from Momentum highlights the advantages of reducing vehicle lanes in favor of more bike, transit, and pedestrian infrastructure.
New California Law Regulates Warehouse Pollution
A new law tightens building and emissions regulations for large distribution warehouses to mitigate air pollution and traffic in surrounding communities.
Phoenix Announces Opening Date for Light Rail Extension
The South Central extension will connect South Phoenix to downtown and other major hubs starting on June 7.
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.
Caltrans
Smith Gee Studio
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service