The Atrium At Parkgate
Apartments Substantially Below Market Value
Co-operative Living
Is it For you ?
The Atrium's unique concept means qualified shareholders can enjoy an exceptional apartment at a price that is considerably lower than any comparable real estate purchase on the North Shore.
Understanding Equity
Co-op Housing
An equity co-operative operates on a unique model: when the shares for a unit are resold, the selling price is determined by the previous purchase price plus the increase in the Canadian Consumer Price Index (CPI). This approach helps to keep units affordable for both current and future shareholders.
The Atrium is situated on leasehold land owned by the District of North Vancouver. Prospective buyers are approved by a committee of existing shareholders. This model is intended for long-term residency rather than investment, distinguishing it from the purchase of conventional condominiums.
Important Information About Equity Co-operatives
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Units cannot be the subject of a mortgage and rentals are not permitted.
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Residents are expected to actively participate in our vibrant community.
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Participation includes one or more community activities such as gardening, building maintenance, social events, games night, etc.
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Established rules and policies ensure peace of mind and a safe and pleasurable living experience.
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Pet policy: one dog (on main floor units only) or one cat permitted.