Two of our founding members, Craig and Stan, have shared an interest in cohousing for a number of years. In 2019, Craig invited members of his church to an informational meeting where Wake Cohousing was born. A few people were immediately interested, a few liked the idea but liked their current home more and few weren’t interested. Over the next 2 years the group met, a few joined, a few dropped out and the group searched in vain for property near downtown Raleigh. 

As the group’s commitment grew an LLC was formed, members were asked for a financial commitment of $2500 and we expanded our search area. Still unable to find land and seeing the price and competition for land exponentially escalate in 2021, we disbanded the LLC and started looking for an alternative way to live in community.

As a total surprise to all of us, within a month of disbanding the LLC we stumbled on Acorn Creek, 19 acres of beautifully wooded land with two houses in March 2021. Acorn Creek is surrounded by Wendell Falls, a huge new subdivision. The Wendell Falls developer tried to buy Acorn Creek but the owner refused, not wanting his property to become a sprawling subdivision.

It appeared Acorn Creek could support about 12 homes (including the two already there). This was less than the 20-30 the group originally envisioned. 12 units wasn’t enough to support a common house, nor was there room for one.  But Craig & Brenda’s home is wonderfully suited for many of the functions normally sought in a common house, so many/most of our community gatherings will be held there.  However, the property met all our other needs –  it was beautiful, included a pond and despite the growing sprawl in every direction, it feels secluded. It is buffered on all sides by electric and sewer easements or creeks and wetlands. The proximity to development provides access to the utilities we need to subdivide the property and support 12 homes. It also means we will have the convenience of a supermarket, restaurants and other stores within walking distance (about a mile).

With our LLC disbanded and a need to act immediately, Craig and Brenda took the plunge, selling their Raleigh home and buying Acorn Creek, moving there in late May 2021. Over the past year we have engaged an engineering firm (to design the subdivision), the Town of Wendell (to annex and file the subdivision and Raleigh/Wake County (for water and sewer hook up).  With no LLC and wanting to move as quickly as possible (real estate development is the opposite of fast) Craig & Brenda also stepped up to front the costs associated with filing the subdivision. 

All ages and household arrangements are welcome.  Currently the group consists of households in their mid-50’s to late-60’s and is made up of couples and singles.

There will be trails, gardens, green space for the community but not a dedicated common house per se. The existing house on the property is ideally suited to accommodate community meals, events, celebrations, etc.  It will also serve as the home of one of our members.

An HOA is needed to own and maintain the common property. Buying a home site will require becoming a member of the HOA and agreeing to the associated covenants. The HOA document, covenants and bylaws are being drafted and reviewed by a lawyer. They will be available in mid-2023, before the sale of home sites.

As noted above, after the preliminary plan was approved by the Town Commissioners (8/22) we began the process of review and approval of construction plans for clearing, grading, utility construction, street construction, storm water, permitting, etc.  This approval came in May 2023, and we have begun this six-month process leading to build-ready lots. At that point roads will be drivable, utilities in place and home sites ready for construction.

Developer

Since we no longer have an LLC, Craig and Brenda own the property and we want to develop the property quickly with minimal bureaucracy. Craig has offered to act as the developer. In order to fund the development once the subdivision is filled, Craig and Brenda are selling lots to members.  The sales contracts include a commitment to complete construction and deliver build-ready lots.  

The “lot cost” for each property ranges from $3k to $18k.  The major “lot” expense for the members of Acorn Creek Community will be 1/10th of the total development costs (now estimated to be ~$1.7 million.)  This estimate includes a 25% construction contingency.  

We have worked hard with our engineering firm to anticipate and estimate construction costs plus a generous buffer for contingencies. If construction costs are lower than budgeted the excess funds will be transferred to the HOA. If construction costs exceed the budget, the HOA will be required to reimburse the developer (Craig and Brenda) for any additional costs.  This would entail a mandatory capital contribution to the HOA by members (i.e. anyone purchasing a lot).

The community will share the costs of upkeep of the roads, pond, and other systems. With preliminary information, we expect monthly HOA dues of ~$50/month.

May 2023 update.  1 lot, #2, is currently available.

Once the subdivision is filed home sites will be available for purchase. At this time Craig and Brenda, as the developers, will schedule closings. The proceeds of these sales will be used to cover the costs of construction. As mentioned above the sales contract will cover the purchase of a build-ready lot and the completion of roads, utilities and all improvements to the common area such as drainage and lighting.