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.