Clark Terrace Mutual Homes

 One Bedroom

 Two Bedrooms

Three Bedrooms

How does a Co-Operative Work? 

An apartment building or a group of dwellings owned by a Corporation, the “Members of the Association”, which are the residents of the dwellings.  It is operated for their benefit by their elected Board of Directors.  In a cooperative, the corporation owns title to the real estate.

A resident purchases the rights to a Membership Certificate, which entitles him/her to occupy a unit in the building or property owned by the corporation.   While the resident does not own the unit, he/she has an absolute right to occupy the unit for as long as the resident owns the Membership. 

What you own is not a particular unit, but a membership in the cooperative.  Clark Terrace Mutual Homes Inc. holds title to the entire property.  Instead of an owner’s title, you hold a proprietary lease, giving you the right to occupy a specific unit for as long as you live up to the basic terms and conditions of the membership agreement.

You don’t pay rent in the usual sense of the word.  After purchasing your membership in the cooperative, you pay monthly fees called “Monthly Housing Charges”.  These charges may vary from time to time, depending on operating costs and changes in the family income and changes in the services and facilities offered. 

All membership applications must be reviewed and family members must be interviewed by a Membership committee before move-in.

1 Bedrooms Monthly Housing Charges from $528

Membership Value $3000.00

Down Payment $450.00 (15%)

36 Monthly Payments $71.00 (in addition to monthly rent)

2 Bedrooms Monthly Housing Charges from $623

Membership Value $4000.00

Down Payment $600.00 (15%)

36 Monthly Payments $95 (in addition to monthly rent)

3 Bedrooms Monthly Housing Charges from $737

Membership Value $5000.00

Down Payment $750.00 (15%)

36Monthly Payments $119.00 (in addition to monthly rent)

**Effective 1/01/20



General Indoor Features

• Carpeted living rooms and bedrooms
• Economical gas enforced-air heating
• Thermostatically controlled air conditioning
• Individual gas water heaters
• Special double-all construction, fully insulated, walls between units are sound-conditioned for complete privacy

Kitchen Features

• Gas range and oven
• Hood with exhaust fan over cooking units
• Equipped with refrigerator
• Double sink with garbage disposal
• Custom build cabinets and unique hardware expressly designed for Clark Terrace

 Bathroom Features

• Full size mirors
• Vinyl asbestos tile floor in a selection of several new designs and decorator colors
• Quality selected fixtures

General Outdoor Features

• Each unit completely landscaped with planted lawns and lifetime maintenance
• underground wiring - no unslightly wires of any kind within Clark Terrace
• Expansive playground areas
• Street planning designed for maximum safety
• Paved and well lighted parking areas for residents' convenience
• Quality exterior lighting fixtures throughout

Have Questions?

If there are any questions regarding pricing and avaliablity, please call the office (702)220-8469, or send us an email manager@clarkterrace.net