About the Cooperative
What is a Housing Cooperative?
The Wayfarer Cooperative is centrally-located in the University District, two blocks from the University of Washington and convenient to shopping and transit.
Purpose
The Wayfarer is incorporated to own and manage real property for the
purpose of providing housing to members on a cooperative plan.
Members
Members are the owners of the cooperative with the rights of stockholders.
Members are also tenants of the corporation, occupying coop units under
the terms of a proprietary lease.
Democratic Management and Operation
The Wayfarer is self-managed and operated. Members are responsible for
making policy decisions, accepting new members, providing building
maintenance, operating the cooperative's rental rooms, etc. The Wayfarer
Board of Directors meet monthly and are elected at the Annual Meeting
held in February.
The Building
The Wayfarer has 28 units (studios and one-bedroom units) on four floors.
In addition, the cooperative owns four rental units in the basement.
Storage lockers and laundry rooms are also located in the basement. No
parking is provided onsite but there are rental parking facilities nearby.
Side-yard gardens on the north and south of the building are a peaceful
retreat from the activity of the University District.
Fees
Monthly maintenance fees and rental income cover the expense of operating
the cooperative.