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Zvago Glen Lake Cooperative, a new senior housing community on the north shore of Glen Lake in Minnetonka, is planning for residents to start moving in sometime in April 2017. The 54-unit co-op is located at 14301 Stewart Lane.
An open house for the community is scheduled for May 20, 2017, and an official grand opening ceremony is scheduled for May 23, 2017.
The co-op units have sold rapidly, according to Julie Murray, Ecumen Chief Business Development Officer and SVP of Sales and Marketing. Five units are still available, she said.
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 Zvago co-op communities are now in development. Zvago St. Anthony Park in downtown St. Anthony Park in St. Paul is expected to break ground in May 2017 and be open approximately a year later. Zvago Central Village in Apple Valley is expected to break ground in late summer and also be open about a year later.
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 4 p.m. Monday through Friday and by appointment.
For more information call 952-452-8875 or click here to contact the sales staff online.