Brown Deer Cooperative

Brown Deer Cooperative is a housing cooperative for active, independent adults age 55 or older, offering shared homeownership as an alternative to buying a house outright. Residents buy a share in the cooperative corporation, which holds title to the land and buildings, and receive the right to live in a specific unit under an occupancy agreement.

Shareholders take part in the day-to-day decision making of the community and in its governance. Share value appreciates under a limited equity formula capped at 2.5% a year, which keeps units affordable over time. The cooperative sits on six acres next to the Brown Deer Golf Course in Coralville, and at least one owner in each home must be 55 or older.