Community ownership makes Commongrounds possible.
We have 500 community members and counting. This includes bicyclists, artists, actors, retirees, farmers, neighbors, nerds, real estate developers, coffee-lovers, music-lovers, environmentalists, hipsters, teachers, bakers, builders, musicians, fisher-people, yogis, gardeners, artists, bankers, swimmers, hunters, skiiers, yogis ... a lot of humans that love this community and are excited to make it even better, together.
Become an owner.
Community ownership and capital make it possible for us to build 416 E. Eighth St. In turn, community owners can receive a financial, social, and community return on their ownership because of the building. It creates opportunity for you and your neighbors to live, work, and play in a space where workforce housing, childcare, design, arts, individual and community wellness, craft food and beverage, and nonprofit and small business organizations intersect to collide and collaborate.
Not a member yet and ready to join? you can become an owner today.
You: So why should I be a coop owner?
CG: First and foremost you can help build the Traverse City we want for the future, today. Would you like to stop in for a beverage and sit on the cafe on the river as you walk or bike by on 8th Street? Attend concerts in an intimate listening space (after a VIP owners-only reception of course)? Support more workforce housing and child care downtown? Commongrounds Cooperative can only happen with the help of community members like you.
You: I’m already sold! But still confused! What does it actually mean?
CG: Community owners are member-owners of the cooperative and the building at 416 E. Eighth. So what does that mean?
Own a community equity share of the cooperative
Vote to elect 2 community owner co-op board reps
Access owner-only building amenities and perks, including annual gratitude party
Receive insider updates on construction and cooperative plans
Opportunity to invest capital in cooperative
You: So, if I join the cooperative, I am a shareholder and owner, and I help make it possible for the cooperative to build a building. What can I expect to get out of ownership, or, if you will - birdship?
CG: So glad you asked! Through cooperative community ownership, you can earn a financial, social, and quality of life return that grows over time. Returns on ownership include:
Financial: Owners don’t earn profit just be being owners (spoiler alert: you won’t get rich by becoming a cooperative owner). But you will have the opportunity to participate in community owner capital campaigns to make the building possible.
Social: Help build 416 E. Eighth St. to create a TC you want to see in the future, today. What does that mean? With the help of community owners, we want to build space to:
Provide downtown childcare and housing affordable for people who work here. Contribute to Eighth St. as a vital and vibrant corridor that celebrates the river for the enjoyment and health of all who live and work here. Create an integrated workspace for nonprofits and small business. Support development of artists who live here and attract top-shelf artistic talent to perform Traverse City. Purchase craft food and beverages that are sourced and manufactured in a manner mindful of supporting the people and places that make the food and beverages possible.
Quality of life: Together, help us create a building where you and your friends and neighbors can eat, drink, refresh, work, create. In other words, be merry, and part of a vibrant work, live and play space. We’re not just building the building to make a great space for other people -- but for you, too.
Commongrounds believes that by creating space -- cooperatively -- for us to work, live, and play -- together -- we can create something that is more than just the sum of the parts of our tenant and community owners. We create the opportunity for us to build something bigger than us, individually, together.
You: So right now, I become an owner and I’m in the coop?
CG: Yep! It’s just that easy. Click the JOIN button and you’re in.