Spring Street Co-op

An alternative method of property ownership where residents collectively share ownership of the property financially, administratively, and legally. A co-op is designed and maintained to enable all residents to benefit equally from ownership because no single entity is exploiting the investments of the others. Property costs are able to be kept low because revenue is not being collected for profit but rather for the maintenance of the property and the co-op structure. 

In traditional property ownership, particularly in the private rental market, revenue is not collected primarily to maintain the health and safety of the property but to enrich the landlord. Often only a fraction - if any - of the rent that is collected is used to maintain a property. For decades our community has been devastated by the predatory private rental market. Not only does it drain residents from their financial autonomy but our neighbors have been trapped under the thumb of faceless property owners who can use the legal system to disrupt their entire futures. 

Our goal is to replicate a successful alternative model of property ownership in Winston-Salem that creates deeply permanently affordable housing, benefits regular people and prioritizes HOME over PROFIT.

Step 1: Identify a property - DONE!!

Step 2: Buy it

Step 3: Renovate it to make it safe and homey

Step 4: residents move in and pay rent/portion collectively 

Step 5: Funds are used to pay bills and maintain property

Step 6: replicate the successes elsewhere! 

You can contribute to the Spring Street Co-Op Seed Fund and help us renovate a small previously abandoned property with 5 apartments and a beautiful courtyard. The seed fund will be used to repair the building’s roof, HVAC system, cabinets, toilets, flooring and more. Our goal is to make this property into the deeply permanently affordable residential property that no other entity was willing to create. Contributing to the seed fund does not result in voting privileges for the Co-Op. If you would like to become a voting member of the Co-Op, please reach out to us to get involved!