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[[File:Commongrounds.jpg|600px|thumb|right|Commongrounds rendering]][[File:Commongrounds-live.jpg|600px|thumb|right]]Commongrounds is a new 4-story, 50,000 s.f. $16 million development in Traverse City, Michigan cooperatively owned by nearly 600 members. It will feature a food incubator, coffeeshop, distillery, childcare center, coworking space for impact organizations and businesses, performing arts and events space, artist-in-residence space, and 24 workforce rental units. Construction began in Fall 2020, with tenants scheduled to move in by 2022.
[[File:Commongrounds.jpg|600px|thumb|right|Commongrounds rendering]]Commongrounds is a new 4-story, 50,000 s.f. $16 million development in Traverse City, Michigan cooperatively owned by nearly 600 members. It will feature a food incubator, coffeeshop, distillery, childcare center, cowering space for impact organizations and businesses, performing arts and events space, artist-in-residence space, and 24 workforce rental units. Construction began in Fall 2020, with tenants scheduled to move in by 2022.


=Mission, Values, Vision=
=Mission, Values, Vision=
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'''Vision''' - Commongrounds serves as a backbone for the community's people and organizations to be healthy, connected, creative, and inclusive; increase their [https://www.wired.com/insights/2014/12/the-adjacent-possible-of-big-data/ adjacent possible] and achieve [https://en.wikipedia.org/wiki/Collective_impact collective impact] on the [https://www.rollins.edu/wellness-center/nine-dimensions-of-wellness/ nine dimensions of individual and community well-being]. Commongrounds will provide shared value and triple-bottom-line (environmental, social, economic) returns on investment by tenants, partner organizations, and people working, living, learning, and playing in the region.
'''Vision''' - Commongrounds serves as a backbone for the community's people and organizations to be healthy, connected, creative, and inclusive; increase their [https://www.wired.com/insights/2014/12/the-adjacent-possible-of-big-data/ adjacent possible] and achieve [https://en.wikipedia.org/wiki/Collective_impact collective impact] on the [https://www.rollins.edu/wellness-center/nine-dimensions-of-wellness/ nine dimensions of individual and community well-being]. Commongrounds will provide shared value and triple-bottom-line (environmental, social, economic) returns on investment by tenants, partner organizations, and people working, living, learning, and playing in the region.


=Ownership=
=Governance=


Commongrounds is a real estate cooperative with two classes of ownership:
'''Governance''' - Commongrounds is a real estate cooperative with two classes of ownership: Real estate tenant-owners (businesses and nonprofits), and members of the community. Financing and governance are completely disconnected, no tenant has more say than any other, no community members has any more say than any other regardless of financial contribution, which consists of ownership shares ($50) and what is effectively a collective/solidarity loan.
 
===Tenant Owners===
Community-serving businesses and nonprofits that purchased a commercial condo space on the first two floors of the building. See [[Commongrounds#Tenants]]. They vote in all but three of the board directors.
 
===Community Owners===
Anyone who purchases a $50 share. They vote in three of the board directors and are invited to participate in the annual ownership meeting.
 
[[File:Commongrounds-ownership.jpg|600px]]
 
=Governance=
Commongrounds is governed by a board of directors voted in by the owners.
===Separation of finance and governance===
Financing and governance are completely disconnected, no tenant has more say than any other, no community members has any more say than any other regardless of financial contribution, which consists of ownership and what is effectively a collective/solidarity loan. For instance, if a [[Commongrounds#Community_Owners|Community Owner]] contributes $1000, $50 of that goes to purchasing a Community Ownership share, and $950 is accounted for as a loan. There is a $500 minimum to be considered a loan, otherwise any amount beyond $50 is accounted for as a donation.


=Tenants=
=Tenants=
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2022
2022
* Commongrounds opens!
* Commongrounds opens!
=Crowdfunding=
* [http://commongrounds.coop Website]
* [https://localstake.com/businesses/commongrounds-cooperative-cf/preview Non-accredited crowd-lending campaign 2019 ($500 min)]: $272,000 raised from 101 investors
August 20, 2019 to April 16, 2020
* [https://localstake.com/businesses/commongrounds-cooperative/preview Accredited crowd-lending campaign 2019 ($10,000 min)]: $546,000 raised from 26 investors August 20, 2019 to April 2, 2020
* [https://mainvest.com/b/commongrounds-cooperative-traverse-city Non-accredited crowd-lending campaign 2021 ($100 min)]: $426,000 over 7 months


=Resources=
=Resources=
* [http://commongrounds.coop Website]
* [http://commongrounds.coop Website]
 
* [https://localstake.com/businesses/commongrounds-cooperative-cf/preview Non-accredited crowd-lending campaign 2019 ($500 min)]
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* [https://localstake.com/businesses/commongrounds-cooperative/preview Accredited crowd-lending campaign 2019 ($10,000 min)]
* [https://mainvest.com/b/commongrounds-cooperative-traverse-city Non-accredited crowd-lending campaign 2021 ($100 min)]

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