Who owns Pacifico?
As a a “group-equity” co-op, members participate in the governance of the co-op, while a nonprofit corporation retains ownership of the buildings. In this way, students have more control at less costs than sharing an apartment or living on campus. Pacifico co-op was established to maintain affordability through the years. The cost of joining Pacifico is minimal, and when members move out, they receive their deposit back less any damage or unpaid fees. Monthly fees, or “rent”, goes toward paying the co-op’s mortgage, and covering the maintenance and management of the buildings. Any additional profit goes into making Pacifico more affordable or creating new student housing co-ops.
