The Neighborhood Plan

Homes

We’re going to gather roughly 18 families (and by families, we mean singles, couples, parents, childless, retired, etc), on a 3-5 acre plot of land. Each home will have all of its own private amenities, a private side- or back-yard, and have easy access to everything the community has to offer. The structure styles will be single-family detached homes, cottage-style detached homes, and duplexes.

6 single-family homes – 800-1800 sqft

8 duplex units – 600-1200 sq ft

4 cottage-style homes – 300-700 sq ft

Eco-Friendly Living

Waxhaw’s first pocket neighborhood will not only help build cohesive community between the dozen-and-a-half families on its land; it will also help unite the established neighbors who have built this beautiful town into what it is, with the incoming population, who will assist in continuing the sustainable growth of the town. This will not be your average community. Each home will be Zero Energy Ready Homes certified (generating enough energy to offset its own consumption). The common house, and any potential covered parking structure(s) will will also have energy-generating solar panels.

*Note: we’d previously said we were planning to use Tesla Solar roof for all structures, but since the pricing has come out, we’ve decided to pivot away from that, but keep the Net Zero Energy Ready plan for the homes.

Common Area

Roughly 1/2 an acre will be common area, owned by TribeMind, LLC, which each household will buy a share in.

Common House Features

  • ~3,000 square feet
  • Central to all dwellings
  • Dining area (with small stage)
  • Kitchen with commercial features
  • Indoor kids’ playroom (all padded)
  • Teen work room (all windows)
  • Open-layout shared office workspace
  • Lounge
  • 2+ guest suites
  • Woodshop/Workshop
  • Multipurpose room for classes & other social events
  • Outdoor patio area
  • Laundry Room (in-home laundry units will be optional, common laundry will be included in bill, for those who opt-in)

– Green Space

  • Organic Community Garden
  • Head gardener needed
  • PUBLIC Splash Pad – Installed by us, given to town to maintain (town is optimistically on board)

– Mailboxes

– Tool/Sport Equipment Shed

– Solar panels (Tesla Solar Roof)

– Guest Parking

Who Owns What?

Home Ownership

Each resident will own their own dwelling, and each dwelling will have a share in the community entity. The entity will own all of the land beneath the dwellings. This is the way condominium associations are structured. You don’t pool your income, you aren’t beholden to anyone else’s personal debt; finances are all separate except for the ownership and maintenance of the common areas, which everyone will pitch in for.

TribeMind, LLC

When joining the community, each household will purchase a share in a common entity that will own all of the land, the common house, and the amenities. The entity is called TribeMind, and is a Limited Liability Company (LLC). With an LLC, each individual households takes on as little financial liability as is necessary. TribeMind, LLC will be entirely made up of members living in the community – there will be no outside management company. This means decisions will be made collectively, using a form of Sociocracy (decision-making process).

TribeMind will collect monthly assessments (dues) that go towards the maintenance of the common grounds, common house, duplexes, land taxes, and other common features. For single-family homes, the exteriors of the houses, including roofs, will either be maintained by the entity, or individual homeowners, depending on what the group decides is most equitable and financially prudent.

When the project is complete, and the community has collectively settled on a name, TribeMind will set up a DBA in the name the community decides on. 

Approximated Financials

Phasing Community Member Buy-In

Dedicated members will financially support the pre-construction phase of development by putting down their Phase 1 buy-in. This allows you to provide crucial input for the physical and social design of the community. All monies paid pre-construction will be rolled into the final home purchase.

Phase 1 Community Member Costs

After you’ve decided that this is the place for you, we’ll ask for your upfront buy-in. All upfront costs will be credited to your final home price.

$10,000/single-family home owner

$8,00/duplex owner

$6,000/cottage-style home owner

Community Coffer

The dues and buy-ins collected by interested and dedicated members will go towards our working capital for the project. From there, the LLC will get a construction loan to finance the construction of the homes and the common house. After construction, each home will have the loan converted to a mortgage, or buy it outright.

$148,000 available community spending after Phase 1 buy-in paid

$60,000 from all [6] single-family home owners

$64,000 from all [8] duplex owners

$24,000 from all [4] cottage-style home owners

Total Community Expenses

Typically, each family pays 15% of their own gross heated square footage for Common House. The estimated costs for all community expenses (which will be covered by the construction loan) before move-in are:

$400,000 common house (~3,000 sq ft)

$100,000 road work, land grading, permits, zoning, etc

$60,000 landscaping

The project itself is projected to require a roughly $5 mil construction loan.

Monthly Dues

We’re asking new members to pay $15/month after attending their first meetup. After that, depending on what type of dwelling you’d like, we’ll make a plan to get your full buy-in paid.

Monthly dues after move-in are TBD – dependant on community features