Cities are rezoning
Cities like Seattle are re-zoning single family land for greater density. These changes transform neighborhoods, and historically benefit developers rather than homeowners and their local communities.
6,723 Single family homes now zoned as multi-family
A "Frolic" is historically a community barn raising. Frolics were a demonstration of what is possible when a community comes together to build its future.
Community Driven Development
We help homeowners unlock their land's new value and build homes they and their community can afford, putting the benefits of development in their hands.
Our Principles
1
Co-Develop
We help homeowners unlock their equity and leverage it to create new, affordable homes for themselves and their community on their lot.
Partnering allows us to design and permit a project with less upfront capital, and these reduced costs translate to lower prices of the units built. Working with new zoning rules, we create multi-family communities on previously single-family lots.
2
Design for Community
Thoughtfully designed indoor and outdoor common spaces in our projects encourage relationships between neighbors and allow for less isolated living.
Our projects accomodate 6-10 homes, as well as a common house that includes dining space, a kitchen and a guest suite. We believe in building homes and not just housing, where sharing more leads to a higher quality of life. We beleive co-housing works best when we are not forced to be with others, but are given opportunities to do so when we feel like it.
3
Allow Community to Invest
Nearly a quarter of all capital in a Frolic project comes from a Community Investment Pool (CIP), where we invite any investor – accredited or not – to invest in local real estate. This allows people in the community to build personal wealth while helping finance a local housing project.
4
Balance long-term affordability with wealth generation
Our co-operative financing model allows us to price our units at a fifth of their market value. This keeps downpayments low, and allows generational renters to buy their first home.
In addition to the mortgage on their unit, residents pay a monthly co-op fee. This fee covers utilities, improvements, shared expenses and maintenance of the homes, and decreases as the project’s debt gets paid down.
