Cedar Rock Cooperative
The Cedar Rock Apartments on 703 & 705 N. Greensboro St. in Carrboro, provide five three-bedroom cooperatively-controlled apartments and one community utilized unit to be used for meetings, skills development workshops, social activities, and guest lodging. The apartments are 943 sq. ft, with washer/dryer, 2 bathrooms, H/V/A/C units for heating and cooling, and fully equipped kitchens. Individuals and families can apply for up to three bedrooms in these apartments. Individual adults can submit a single application for one bedroom within a co-op apartment, or they can apply as a group with up to three qualifying. Per the grant we receive, all three bedrooms must be occupied by a resident. Residences in Cedar Rock are limited to those earning less than 60% of Area Median Income. Residents participate in monthly meetings and share responsibility for groundskeeping, maintaining the common facilities, planning social activities, selecting new members, and coordinating co-operative development. Work-hours requirement is 15 hours per adult per quarter. Per room rental is $317 per/mo. for standard & $366/mo. for primary-bed/bath. A full unit, for families of 3 or more, is $1,000/mo.
Members buy into the co-op with a deposit of $1000. Rent prices do not include utilities, phone & internet/technology services.
We have a quarterly work hours requirement of 15 hours per adult per quarter and residents attend mandatory monthly meetings.