Resident Owned. Resident Focused.
In a sea of sameness, we’re different. Seriously. We were founded to be different.
As Virginia’s only senior living neighborhood that operates as a real estate cooperative, Atlantic Shores stands alone as the best option for prospective residents desiring both an exceptional lifestyle and the many financial benefits of equity-ownership.
The Atlantic Shores Cooperative Association (“Atlantic Shores”) is comprised of the individual owners of each apartment or villa on campus. In simplest terms, our Residents are our owners. We are not one of many – Atlantic Shores is a stand-alone community committed only to its residents and staff.
With that in mind, every decision made at Atlantic Shores is made by answering one question: is this the best decision for our residents and staff?
We’re not concerned about catering to outside investors (we have none), protecting a stock price (nope) or adhering to some ‘corporate’ decision-making process (we do what’s best for our community).
Our Residents are the owners of their community. Simple enough, right?
So, who’s in charge here?
At our highest level of governance, Atlantic Shores is overseen by a Board of Directors (“Board”). In accordance with our by-laws, Atlantic Shores residents hold a majority of the seats on the Board, so that the Residents’ voice, and vote, will always hold the most weight and remain the driving force behind any Board decision or action. Those Residents serving on the Board are elected by their peers (other residents) and serve three-year terms.
*Non-resident Board Members can be elected by Resident Board Members, but the number of non-resident Members will never outnumber Resident Members.
Creating Our Culture
As our Resident body grows and changes, our community is growing and changing as well – the Residents at Atlantic Shores are creating our culture. It is the residents who decide what our community will look like in the future. As new residents arrive, the culture shifts as their desires may be different than those who came before them – the lifestyle options change, the off-campus trips change, the on-campus amenities and services change, etc.
Atlantic Shores exists to serve its Residents, so as their desires and expectations change over time, the community will follow.
Protecting Our Future
Atlantic Shores residents are involved in every aspect of life in the community, including determining our next steps for the future. In a time (post-COVID) when senior living communities are buying, selling, expanding and shifting (aka – looking for new ways to maximize profits), Atlantic Shores stands firm on its foundation of serving one clientele, the Residents. Atlantic Shores Residents serve on the Capital Planning Committee, committed to overseeing (with the Board) all capital projects on-campus, both now and in the future. The Residents vote each year, at the Annual Meeting, to elect Board members, approve budgets, and even vote on the increases to their own monthly service fees. It’s not a very common practice in this industry, but this unique structure ensures that the Residents are protected and that their best interest is top of mind, knowing that the same people voting to approve service fee increases are the same people who will be paying them.
Ready to experience more?
Atlantic Shores is very unique – the only community of it’s kind in the state of Virginia. It’s one thing to read about how the neighborhood is different than others, it’s a different thing to experience it. Come see us in person – we’d love to welcome you on campus for a personal tour or invite you to attend one of our upcoming events. We’re looking forward to welcoming you to the neighborhood.
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