FAQ
Get the scoop on the co-op, the building, and more!
CO-OP
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Commongrounds began by looking at an empty lot and wondering, “If our community could build anything here, what would it be?” When Chris Treter of Higher Grounds joined forces with Kate Redman of Commonplace Coworking to start Commongrounds in 2018, that’s what they set out to discover. As we started asking our community what they wanted, more and more people joined our co-op to help. In 2023 - 5 years, 1 pandemic, 1000 owners, and 17.5 million dollars later - we achieved something truly special, opening a first-of-its-kind community center designed and owned by members of its community.
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Cooperatives sell goods, services, or real estate, like other companies, but have a distinct ownership and profit structure. The owners and shareholders of a cooperative are its members, the people who use it. Cooperatives can earn profit, but profit is reinvested in the cooperative or returned to its members in proportion to how much they use the services, goods, or facilities provided by the cooperative.
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Like other cooperatives, we are owned by the people who use our product -- in our case, our first- and second-floor building tenants (“Tenant Owners”), and individuals from our community, including our housing residents and building patrons (“Community Owners”). Both ownership classes elect board members to represent their interests and stake in the cooperative.
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You can read all the nitty-gritty co-op details here:
Class C Membership Application Terms
Tax Status: Commongrounds is a nonprofit corporation, but not a 501(c)(3) tax-exempt organization -- cooperatives have their own tax status. As a result, equity purchases and annual dues paid to Commongrounds are not tax deductible. If you are interested in making a tax-deductible donation to support Commongrounds, please reach out to us and we will work with one of our 501(c)(3) partners in the building to accept your donation to support a community mission in the building.
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You may notice an avian theme (and many a bird pun) flying about our co-op. Why? When we launched our inaugural "Early Bird" owner drive in 2018, people started identifying themselves as owners by saying "I'm a bird!" Well, we're a bunch of dorks who sensed endless pun opportunities, and the rest is history. Our birds remind us of our scrappy origins and make us smile. So come on, bird - join our flock!
OWNERSHIP
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It’s as easy as 1, 2… Yep, just 2 steps.
1. Purchase an Equity Share – Commongrounds is owned by and serves its community! Anyone and everyone is invited to pay $50 to purchase a Class C (community) share of Commongrounds. When you purchase your share, you become a lifetime owner of Commongrounds alongside more than 1000 community members!
2. Maintain Annual Dues – All equity owners are encouraged to pay annual dues! Dues keep our co-op running and maintain your active, “good standing” ownership status, giving you the right to participate in Commongrounds governance and gain access to your exclusive owner benefits. 2024 dues include these terms and conditions.
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When you become an owner, you make 414 E. Eighth St. possible and earn quality of life returns for yourself and your community. Returns on ownership include:
Social: Together, we built and maintain a building where our community can connect, refresh, work, create -- in general, be merry as part of a vibrant work, live, and play space. With help of community owners, 414 is a space to:
Find accessible and centrally-located housing & childcare
Collaborate in community-integrated workspace for mission-driven organizations
Support the development & diversity of local and visiting artists
Purchase locally-sourced food & drink that supports the workers who made it possible
Contribute to the vibrancy & enjoyment of Eighth Street & the Boardman-Ottaway River
In other words - your ownership supports an accessible and impactful space for your neighbors -- and for you, too!
Financial: In years when the co-op earns a profit, you’ll have the opportunity to earn patronage based on how much you utilized the building and its services. Owners can also grow wealth in their community by investing in Commongrounds equity crowdfunding campaigns, as well as enjoy exclusive owner discounts & benefits.
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They are not! All community owners must pay annual dues to remain active in the cooperative, with access to voting rights and other benefits each year. While the one-time $50 “community owner” share makes you a lifetime owner of Commongrounds, cooperative dues are assessed annually and designate an owner as “in good standing.” A share brings you into a cooperative; annual dues maintain your participation.
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Pay-as-you’re-able dues keep our cooperative accessible to all and provide the same great benefits regardless of contribution level, with a suggested minimum of $48/year to cover essential costs.
Contributing beyond the suggested minimum further supports Commongrounds’ execution of our mission. Your enhanced dues will:
Support administrative & operational costs that keep our cooperative and building running
Contribute to providing community amenities & programming in food, family, arts, and wellness
Assist in subsidizing accessible ownership for fellow birds in our flock
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Owners (people who have bought a $50 equity share) do not have to pay annual dues, but we hope you do! Dues help support the co-op's essential costs, as well as maintain your "good standing" status in the co-op - which is what you need to access your voting rights, attend the annual meeting, and enjoy your owner benefits.
If after purchasing your one-time $50 share you choose to be an “inactive” owner by forgoing yearly dues, we’re still grateful for your support! Inactive owners can still invest, donate, volunteer, and enjoy our building’s public spaces and events. If you start missing the benefits that come with “good standing” status, you can activate your ownership with annual dues at any time!
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In addition to quality of life returns for yourself and your community, active (dues-paying) owners enjoy exclusive owner benefits including:
Participation in Cooperative Governance
Commongrounds Tenant-Owner Discounts
Event Discounts & Early Access
Opportunity to Host Owner-Led Programming
Event Space Rental Discounts
Short Term Stay Discounts & Early Access
Please note that owner benefits are wholly distinct from the investor benefits you may have received by contributing to our 2019 and 2021 investment campaigns. More on those here!
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Thank you for your support! Please visit our investor page for FAQs and information.
BUILDING
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Commongrounds is Northern Michigan’s first real estate cooperative, and 414 E. Eighth Street is our pilot project - an innovative, mixed-use community center with workforce housing, common areas, and mission-driven organizations serving our community through food, family, arts, and wellness. Come visit us or learn more here!
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Our building is open to all! Our commercial tenants are open to the public and many other activities in the building are open to the general community. However, owners get to participate in cooperative governance and enjoy exclusive benefits, including special access and discounts to events and spaces in our building.
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Head to our housing page to learn more and apply! You’ll find a full Housing FAQ there as well.
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While onsite parking is limited, there are plenty of great nearby options for free and/or metered parking! Head here for details about parking, public transit, and more!