In addition to your monthly carrying charge, you must purchase a share in the Apex Belltown Cooperative.
The share price is currently $3,669. Upon purchase of the share, you become a part-owner of the Co-op. Upon termination of membership, the Co-op will refund the share price, plus any applicable Consumer Price Index (CPI) increases, minus any accrued damage expenses.
Apex Co-op shares cannot be sold on the open market, and their value is adjusted annually based on an inflation formula.
Share price requirements and information:
- To secure your membership, at least 1/4 of the share price must be paid up-front (currently $917.25), due one week from the date you are offered membership.
- This initial share price payment ($917.25) is nonrefundable should you later choose to decline membership.
- The remaining cost ($2,751.75), is payable over a seven-month period ($393.11/month).
In addition to the share price, members must pay a monthly carrying charge. This covers costs at the Apex such as utilities, building upkeep, and loan payments. The current carrying charge rates are:
Single (Zen): $415/month
Double: $691/month
Triple: $934/month
Please bear in mind that these amounts are subject to change each year.
Each October, the Apex determines the budget for the following year, which in turn determines the carrying charge rates. Carrying charge rates are updated on January 1st of each year.
If you have a roommate, there is an additional monthly fee of $172.75.