Walnut Street Co-op (Eugene, Oregon)
Co-operative ownership led to alternative community finance
Walnut St. Co-op is a social change oriented, eco-cooperative household in Eugene, Oregon. In September 2000 the first of us moved into a large, rambling house together, seeking to build community. As housemates, that means cooking for each other and eati
In fall 2003 we successfully purchased our house from the previous owner (one of our departing co-op members). The house title is now held by the Walnut Street Cooperative corporation. As a co-op we were unable to obtain bank financing, so we started a revolving loan fund, where about 20 friends and supporters lent us the money to buy the property. Private lenders allow us to keep Walnut Street Co-op alive as long-term affordable housing option in Eugene, as well as a focal point of community activism and support.
Each member pays monthly fees that go toward loan repayment, taxes, insurance, utilities, maintenance, and other costs. We are self-governing and self-managing, handling all aspects of the house and community.