Welcome to Woodstock Homes
Woodstock Homes is a resident-owned corporation that provides quality homes at affordable prices, while fostering a unique opportunity for community. As residents and shareholders of the corporation, we work together to ensure that Woodstock Homes is a great place to live.
- We respect the historical legacy and ideals of the founding residents.
- We strive to maintain, protect, and enhance the assets of the corporation while preserving its financial stability.
- We celebrate our cultural and economic diversity.
- We value, protect and care for our community.
A Brief History
The housing that comprises Woodstock Homes was originally built by the US government during World War II to support the families of the men and women serving our country.
After the war ended, The Public Housing Authority planned to sell the Woodstock Project as war surplus. One of the residents, Edward B.J. Nute, proposed to his fellow tenants that they form a non-profit corporation to purchase their homes under a policy of mutual ownership. After two years of meetings, planning and negotiations, his dream was realized, and Woodstock Homes was born.
The Woodstock Cooperative Concept
A corporation is a business owned by the people who use it. At Woodstock Homes, each shareholder owns one share of the corporation. As a shareholder-based organization, we offer more
housing for less money. Our residents have an equal vote in the corporation, which holds title to the entire Woodstock Homes property. Shareholders elect a Board of Directors once every two years. This volunteer board works with the shareholders to set the standards of excellence that help our community remain a pleasant and peaceful place to live.
What is a Housing Cooperative?
A housing cooperative is formed when people join with each other on a democratic basis to own or control the housing and/or related community facilities in which they live. Usually they do this by forming a not-for-profit cooperative corporation. Personal income tax deductions, lower turnover rates, lower real estate tax assessments (in some areas), controlled maintenance costs, and resident participation and control are some of the benefits of choosing cooperative home ownership.