Not all of our developments are planned to be mixed income
There should be a number of different formats for our developments, for various reasons, especially for the sake of creating a co-operative.
From research we have done, it will be difficult at best to get a mixed (market rate & limited) equity development agreed to by the California Co-operative regulatory authorities.
Although from what an experienced consultant in co-operative budget planning tells us, he is able to work on developments that are priced for homeowners up to 150% of area median income. Otherwise preferring to work on project budget developments from where the members of the co-op are at 120% to under 100% of median income.
The goal of creating upper income housing at slightly below market rate one consideration is to create cash flow to finance the lower income level.
It may be that we either keep the upper income home out of the co-op equation if it's on the same property, and instead condo-ize it with any other upper income units on the same property. If we cannot subdivide the financial interests of the buyers that way, then we may not build the upper income home on the same property, if we can build it elsewhere, to save the integrity and preference for the co-op structure and benefits.
Building upper income housing at slightly below market rate, on a geographically-different piece of property, and still use the proceeds from the sales to privately fund the subsidized units.