Cooperative Housing Resources, LLC

Announcement from

President and CEO

Mission: We provide mortgage banking services and organizational and development consulting for senior housing cooperatives. As a HUD-approved lender, we offer construction and/or permanent financing tailored to the unique traits of cooperatives, their members and sponsor-developers.

While this work is largely financial or technical in nature, our commitment to cooperatives stems from a strong personal belief in and witness to the redemptive power of communities. It is our experience that cooperatives are unique in creating affordable, enlivened, independent and interdependent environments that preserve financial resources and enhance the aging process.

Experience: CHR president Terry McKinley has worked since 1969 as a mortgage banker and developer of multi-family housing in senior executive positions with Norwest Mortgage Corporation, Merrill Lynch Huntoon Paige, ABG and AGM Financial Services Corporations, Homestead Housing Center, and National Cooperative Bank. Based on that experience, CHR offers the following primary services, which are applied as necessary to the needs of our clients:

Since 1976 , Mr. McKinley has participated in the financing and/or organization and development of over 30 senior cooperative, both urban and rural. These include so-called full-equity cooperatives, utilizing individual share loans, and cooperatives with master mortgages under HUD mortgage insurance programs. lending experience also includes loan alternatives offered by FannieMae, FreddieMac, life insurance companies, pension funds, bond underwriters, and commercial banks.

If you are interested in senior cooperatives and want more information, or if you are a prospective or current co-op sponsor, resident, developer, or manager and want a thorough and objective analysis of your needs and alternatives, please visit the Senior Cooperative Foundation web site, send e-mail to, call or write.

Senior Cooperative Housing Experience

"Deep Equity - Share Loans
  • Cardinal Pointe, Faribault, MN
  • Gideon Pond, Bloomington, MN
  • Homestead Cooperatives of --
    • Estherville, IA
    • Greenfield, IA
    • Hull, IA
    • New Hampton, IA
    • Spirit Lake, IA
    • Chisago Lakes, MN
    • Crosslake, MN
    • Grand Marais, MN
    • Redwood Falls, MN
    • St. James, MN
    • Springfield, MN
    • Worthington, MN
    • Maryville, MO
    • Mt. Horeb, WI

"Limited Equity" - Master Mortgages
  • 7500 York Cooperative, Edina, MN
  • Becketwood Cooperative, Minneapolis, MN
  • Nokomis Cooperative, Minneapolis, MN
  • Calvary Cooperative of Golden Valley
  • Realife Cooperatives of --
    • Owatonna, MN
    • Waseca, MN
    • Mankato, MN
    • New Ulm, MN
    • Columbus, NE
  • Cardinal Pointe, Maplewood, MN
  • Cornerstone Cooperative, Plymouth, MN
  • Independence Place, Willmar, MN
  • Realife Cooperative, Rochester, MN (refi)
  • Cardinal Pointe Cooperative, Maplewood, MN
  • Realife Cooperative, Burnsville, MN (refi)
  • Highlands Crossing, Bella Vista, AR
  • Fairway Rdige Cooperative, Rochester, MN
  • Applewood Pointe Cooperative, Roseville, MN

    In Process

  • Village Cooperative, Fergus Falls, MN
  • Pullman Place Cooperative, Elk River, MN
Principal Sponsors/Clients
Bentonville/Bella Vista, Arkansas, CDC
Calvary Lutheran Church of Golden Valley
Ebenezer Society
Elim Care, Inc.
Episcopal Church Home of Minnesota
Group Health of Puget Sound
Guardian Angels
Homestead Housing Center
Lutheran Social Services of New Jersey
National Cooperative Bank Development Corporation
Presentation Homes, LLC
Real Estate Equities
Realife, Inc.
SilverCrest Properties, LLC
TerWisscha Construction, Inc.
United Properties


Terry W. McKinley, President & CEO

Cooperative Housing Resources

639 Jackson Street ~ St. Paul,  Minnesota  55101

Tel:  651-310-0226 ~ Fax:  651-310-0227