Zvago Glen Lake Cooperative, a new senior housing community on the north shore of Glen Lake in Minnetonka, is now under construction. Work started Tuesday, April 19, 2016, on the 54-unit co-op at 14301 Stewart Lane, which is expected to open in the spring of 2017.
An official groundbreaking ceremony is being planned for May 25, 2016, with Minnetonka Mayor Terry Schneider presiding.
“We’ve had exceptional interest in Zvago Glen Lake,” said Julie Murray, Ecumen Chief Business Development Officer and SVP of Sales and Marketing. “More than sixty percent of the units are pre-sold but we still have lake-view units with balconies available.”
Senior cooperatives are communities where residents buy shares of the corporation that owns the building — an ownership structure that offers financial advantages similar to traditional home ownership, along with lower costs of entry than many condominiums or townhomes. Plus, co-op owners have a strong say in shaping their community and how it operates.
“One of the great things about Zvago Glen Lake is that it is walkable and close to everything — entertainment, dining, shopping, golf courses and outdoor recreation,” Murray said. “It’s a beautiful, mature neighborhood with woods and in easy walking distance to nearby businesses. There is grocery store just across the street.”
Zvago is being developed by OneTwoOne Development, a partnership between Ecumen and Lifestyle Communities, a Bloomington-based development company. This is Ecumen’s first senior cooperative project and is being marketed to active adults 62 and older. Two similar co-op communities are now in development — Zvago St. Anthony Park in downtown St. Anthony Park in St. Paul and Zvago Central Village in Apple Valley.
The Zvago Glen Lake sales office is at 14446 Excelsior Boulevard in Minnetonka, next to Caribou Coffee. It is open from 9 a.m. to 5 p.m. Monday through Friday and by appointment.
For more information call 952-679-8715 or click here to contact the sales staff online.