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Approach
Imagine living next door to your friends, with shared car-free space where you can garden, eat outside, and frolic. When you have visitors, they can stay in the shared guest room, and when you have parties or get-togethers, you can use the common house. We allow homeowners to reimagine the future of their community, creating a pathway for folks without wealth to buy a home and plant roots in their neighborhood. Our projects are financed and sold as co-ops (the ownership structure) and draw design inspiration from Danish co-housing.
What is a Co-op?
When most people hear the word co-op they think of a college co-op with dirty dishes in the sink.
When we say co-op, we are referring to the ownership structure of our homes, which are cooperatives. A co-op, like a condo, is a way of owning a home in a multi-family community. Co-ops have been around for over a century in the U.S. but are most common in New York and Washington DC.
When you buy co-op, you buy what is called a resident share, which gives you ownership of your unit, as well as partial ownership of the entire community you co-own with your neighbors. As a co-op resident and member, you have a say in decisions that affect your community, but you don’t have to shoulder the burden of homeownership by yourself. At Frolic Community, we use cooperative ownership structures to help lower the barrier to entry to homeownership and build stronger neighborhoods.
What is Co-Housing?
The term co-housing was coined by the Danish, but the concept has been around for most of human history. Core to this idea, is the celebration of privacy as well as community. In most co-housing communities people have their own home, but share certain indoor and outdoor spaces such as a place to host gatherings, a guest room, a shared hot-tub etc. Working with thoughtful architects and designers, Frolic helps create communities that allow you to enjoy privacy and opt in to socializing when you want to. We believe that small, spontaneous moments - sharing morning coffee with a neighbor, two kids playing together without a planned playdate, eating with neighbors - make our lives richer. In our model, co-ops and co-housing complement each other to create attainable homeownership in beautiful, connected communities.
Homebuyer
What does it mean to buy a Frolic Community home
When you buy a Frolic Community home, you harness the power of cooperative ownership to build the life you want. Our model brings homeownership within reach, allowing you to invest in your future in more ways than one. Over time, you’ll be able to build financial equity as well as a strong sense of community with your neighbors. Choosing a Frolic home means recognizing that we can do more when we work together.
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How much does it cost?
Our cooperative ownership model allows us to reduce down payments to as low as $10,000. We try to keep your total monthly housing costs at or below comparable market rent in your area. After you've lived in a Frolic home for several years, while rents in the city have continued to rise, your housing costs remain predictable. For a one-bedroom unit in one of our projects, the mortgage is $1200/month and the co-op fee is $1000. The co-op fee covers all utilities (garbage, internet, electricity, water), taxes, maintenance, and landscaping.
How do I buy a Frolic home?
Fill out our Homebuyer interest form and we'll reach out! In the meantime, we encourage you to attend one of our open house events.
homeowner
How we co-develop with homeowners
How can we help you develop your home?
What if the equity you have in your home could provide more than financial security? When you partner with us, your equity also supports your vision for community, equity, and financial growth. Our model allows you to unlock the equity in your home and leverage it to build a project that benefits you and your neighborhood. Co-developing with Frolic allows you to become a developer, relying on our expertise and network to create new possibilities when we work together.
What is the process?
We start with an initial meeting to talk about your dreams for your property, including financial and affordability goals for the project. If it’s a good fit, we move into pre-development feasibility and draft a financial plan for the development. From there we secure funding for soft costs like architectural fees, which helps us get a building permit and then a construction loan. During construction, we focus on setting up financing for individuals and for the co-op, and once it’s complete, we help market any remaining units and provide resources to set your co-op up for success.
What happens to my original home?
That’s up to you! Sometimes we will keep your home in place and build around it, and sometimes we will start fresh with a clear site. In both cases, you will end up with a beautiful new home surrounded by community. We can work with you to determine the best course of action.
partner
How we collaborate
Development can be complex, and our work is made possible through deep and trusting collaborations with architects, developers, builders, and others. We see Frolic Community as a collective that includes the many organizations that have collaborated with us. We hope our partners will see themselves as part of Frolic, and use our tools in their own work. How can our work help grow yours?
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What do we mean by partners?
Our partners are people and organizations working in the fields of housing equity, real estate, and sustainable development, including architects, builders, nonprofits, lawyers, and more. We see development as a collaborative process, and we seek to build partnerships with a strong foundation of trust that will last through multiple projects.
What kinds of expertise are helpful?
We design communities, which means that we create financial and social structures that help people thrive. There are a few targeted areas where we stand to benefit from partnerships with outside organizations, including: community outreach, digital marketing, grant writing, and real estate agents.
What do we hope for in a partnership?
Every organization comes to the table with a unique set of dreams and challenges. We hope to form partnerships that allow for mutual gain, with each party’s skills and assets complementing the other. Building relationships at the speed of trust has allowed us to enjoy openness and creativity with our partners that is not often found in the typical development process.
