Will the Twin Cities market see a growing number of senior cooperative housing developments pop up in the near future? It appears so, especially if you study the strategy of one of the biggest believers in this concept, Ebenezer.
Ebenezer Development broke ground on Estoria Cooperative Oak Marsh, a new senior cooperative development in Oakdale, Minnesota. Estoria Cooperative Oak Marsh, located next to Oak Meadows Senior Living, another Ebenezer-managed community, will be an 87-unit member-owned community for adults 62 and better.
It’s also the latest foray into senior cooperative housing by Ebenezer.
What is senior cooperative housing? Ebenezer is embracing this housing model, a type of community living arrangement in which older adults collectively own and manage their residential building or community.
Here’s how it works: Each resident purchases a share in the cooperative, giving residents the right to occupy a private unit and a voice in how the property is operated. Members work together to make decisions about maintenance, services and community activities.
Fans of this type of seniors housing say that it creates a strong sense of community and mutual support among residents.
Shona Schmall, director of marketing and sales/cooperative development with Ebenezer Management Services, said that cooperatives provide a sound financial investment with reasonable purchase prices and monthly fees, along with built-in equity appreciation for a more secure future return on investment.
“There is also great benefit from living in a maintenance-free lifestyle that provides more time for leisure, enjoyment and social engagement,” Schmall said. “One of the biggest advantages of cooperative living is the community effect: people working together for a common purpose. Members run the business together and enjoy life together by joining together in the various common spaces that are designed to promote leisure enjoyment and community.”
Estoria Cooperative Oak Marsh offers a maintenance-free, turnkey lifestyle. Amenities include outdoor patios with firepit and grill stations, pickleball and shuffleboard courts, community flower gardens and raised beds, pet park/lounge areas, walking paths, grand lobby with fireplace lounge and coffee bar, a great room with serving kitchen, art studio, fitness/wellness studio, yoga classroom, pub room/lounge, golf simulator, library and sunroom/lounge.
“We look at it as an adventure and a new beginning,” said founding members and residents Steve and Lisa Baker, in a statement included in a press release announcing the new development. “Moving to Estoria Oak Marsh will allow us to bring forward the best things from our current home and leave behind the things we no longer need. We’re ready to take that next step.”
Estoria Oak Marsh is the second Estoria Cooperative developed by Ebenezer, which will also manage the property. The community is expected to open in late 2026.
“The cooperative model is an exciting option for seniors who want the best of both worlds: the financial benefits of home ownership and the ease of maintenance-free living,” said Brett Anderson, Ebenezer president and chief executive officer. “It also creates a true sense of belonging, where members aren’t just residents, they’re invested in each other’s well-being.”
This cooperative community was designed by RSP Architects and is being built by Frana Construction Company, both Twin Cities based organizations. Additional partners include Leap Development Co, strategic development advisor, and Colliers, HUD mortgage lender.
Josh Cowman, development consultant and owner of Leap Development, said that he expects to see more of these types of projects in both the Twin Cities market and the entire country.
“We are seeing growing interest in cooperative senior housing models,” Cowman said. “As older adults seek more autonomy and community engagement in their living environments, the cooperative model is gaining traction. It offers a compelling alternative to traditional senior housing, especially for those who value ownership and choice.”
Todd Willet, chief financial officer with Ebenezer Development, said that he expects his company to build more senior cooperatives in the region.
“We see this model as an important part of Ebenezer’s growth,” Willet said. “As demand continues to grow, we remain committed to developing communities that reflect the evolving preferences of today’s seniors.”
What sets cooperatives apart from other forms of seniors housing? Schmall points to the ownership aspect.
Housing cooperatives for residents 62 and older are member-owned and member-governed.
How these projects are financed differs, too. Schmall said that most senior cooperatives in the upper Midwest are financed through an FHA/HUD-insured master mortgage program. This keeps fees lower than other senior living options such as rentals and market-rate townhomes and condominiums, she said.
“Members own the cooperative and share their gifts and talents from years of working in the marketplace or serving in their communities to assist in running the business and serving one another within the community,” Schmall said.
