New-York tribune., 1920-10-17
Cooperative Ownership
Upheld by Housing Expert
Frederic Culver, Associated With Cooperative
Homes for Many Years, Tells What Makes for
Successful TenantOwnership Project

/ ing values. Ths site procured o,,
consideration is given to the ,v.. :.
apartments TO be produced. ba.sS VI
present demands, and with Aexjbii;.- "a
adapt in a measure 20 future ren,,;-s
ments. 4-i'e'
In planning the exterior archi..,..
raj effect should be attained nv 80
and proportion rather than bv n. '
of expensive materials. and here -
can be saved the coopcrator by ernss.
enced and skillful judgment. I.i.sr;s.
on the interior. fummerv should ~
discarded, leaving the owner f-c. =.
display his individual taste. wi.bo..
penalizing him with something ne ma.
not want. But every practical dev,cs
should be installed which can ease 49,
rounding all domestic affairs. The s,,s
rounding al domestic affairs.
The floor plan having been adopted
dislnterested real estate experts -
knowledge of local renting valuss -
the district should be asked N -
praise the renting values of the var,ors
apartments, and on these disirteres.eJ
opinions Of revenue values and exre,.
advice as to operating expenses -.
whole financial structure should bs
based. The profits 70 be made bv -.
promoter contractor for all se-,ics,
IN the conception, planning. fnanc,-r
and erection Of the building should =
no instance exceed ID per CEN OH tho
total cost. and this should or ne ,~iv
profit in the enterprise. otherwise -
most cases it viii penaiize the investor
Is Per Cent Return Is Sufficient
After satisfactory title insurance il,
obtained and demand for the stock -
manifested, the enterprise should M
ceed. The voluntary purchase of tie
stock of such an entcrprise rs tho ins-..
fcation for its creation Such an e.-
torprise can safely assure to the Owner
return of from 10 10 Is per cc~- ne-
annum on the investment. either n
occupation or through sub-le--i-r
Those who promise rent free or Dera-
fits more exaggerated -nan tris. sre
treading on danEerous ground. a.
though n the experience ~ tho writer
IN a few exceptional cases tris he's
happened. After all. operations Of TINS
character can only be successful IN A
large way. when the investing public
has confidence in the ability ana inter-
rity of the promoter and me knowledge
that the profits are moderate ard that
the investor has the benefits of mas,
production
Cooperative apartment enterprise.
are bound to live and increase in num-
Der. Well conceived and executed. the ?
merits are not TO be disputed. but the
ability Of the Investor 20 sali at snv
time IS very necessary Incident, and
this can be satisfactorily accomplished
only when market value is gwen the
original investor. In addition 10 tins.
the organization which has produced
any such enterprise must give the as
sistance Of its selling force to any
patron who desires to dispose Of his
holdings.
Solution of Housing Problem
A purchaser Of stock in a coonerativ.
building, planned and erected by ex-
perts in the business, rejecting the
savings derived by quantity produc-
ton. carrying only a reasonable profit
to the promoter-c r-constructor. acquires q
habitaton suited TO his requirements
cheaper than it could be produced in
any other way When the operation is
concluded the stock should be worth
more than 1t cost The owner of the
stock again enjoys the advantages Of
cooperative administration has a voice
in the management of the property. can
treat his own apartment I'M any way
desired, is forever free from increases
of rent and IN comparatively short
time amortizes his princip pal investment
through the savings made.
Here is the solution Of the housing
problem and freedom from the exac-
tlons OF rapacious landlords and the
burdens and perils of individual hui,d-
lnV