National Cooperative Bank Provides $5.65 Million for Village Hearth Cohousing, LLC, in Durham, NC

National Cooperative Bank Provides $5.65 Million for Village Hearth Cohousing, LLC, in Durham, NC

Arlington, VA (June 3, 2019) – National Cooperative Bank (NCB), a leading financial services company dedicated to providing banking products and services to cooperatives, their members and socially responsible organizations nationwide, recently closed a $5.65 million construction loan for a new 28-unit cohousing community in the Triangle area of North Carolina. 

Village Hearth is a 55+ intentional neighborhood of LGBTs, straight friends, and allies in Durham, North Carolina.  The community will consist of seven “quads” comprised of four one-story accessible cottages clustered on one end of the beautifully wooded 15-acre plot. Amenities will include a clubhouse, with a large dining/meeting room, a gourmet kitchen, an office, laundry facilities, craft/arts room and exercise room.  The community will also have ample gardens, walking trails and a dog park with plans for an art studio and a workshop. 

Village Hearth members intend to age gracefully as good neighbors, balancing private cottage living with social opportunities and community support.

“Having the opportunity to provide the necessary capital for the construction of Village Hearth is very exciting for National Cooperative Bank,” stated Ann Fedorchak, Director of Cooperative and Community Development for National Cooperative Bank.  “This cohousing community truly embodies the cooperative principles and social values that we are committed to living by and will enable individuals to live in a supportive environment as they age in place.”

Co-founder Margaret Roesch says, "Four years ago, my wife and I dreamed of a place for LGBT adults to grow older with the support of folks who understand our life’s journey. With the guidance of cohousing professionals, CoHousing Solutions & McCamant & Durrett Architects as well as local Durham experts, NCB has provided us the opportunity to finally bring Village Hearth to completion!"

Cohousing is intentional collaborative housing in which residents actively participate in the design and operation of their own community.  Adult cohousing offers individuals the opportunity to live independently and to age in a community of close-knit and mutually supportive neighbors. For more information, see www.cohousing.org or www.VillageHearthCohousing.com.  

 

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