Riverside City History
Unique Home Ownership

One of the most unusual stories in Riverside involves the Riverside Townhouses development at 3021 NW 47th Terrace. At first glance, the townhouses look much like an apartment complex, but Manager Carol Turney explains there is an important difference that also helps explain the "cared for" look the complex exhibits. First, the "units" are three story town homes, with basements and two living floors. More importantly, however, the individual town homes are actually owned by the residents. "It's good for people, especially a family with a limited income," Turney explained. "It gives them space and feeling of ownership."

The "cooperative townhouses" also offer input for owners. A board of directors composed of member residents has responsibility for decisions such as the upgrading of individual town homes or the design of a playground. Therese Madison has lived in Riverside Townhouses since 1972 with her husband Jim. A member of the board of directors said the differences go beyond even ownership and responsibility. "It's a community," she said. "It's really the best of both; the convenience of an apartment complex and the ownership of a home. There's permanence here so you make friends and get to know people."

Many families and retired people find the townhomes a perfect solution to housing needs. The location has also drawn a number of students from an area medical college. "That's one of the things I like best," Theresa said. "We have a community from all income brackets. That's nice." Depending on income, a resident can receive federal assistance for their payments, Turney noted. Riverside Townhomes has obviously been successful. The original 88 units were built in 1972, and the remaining 88 built in 1976. "It's a very successful formula," Turney said. "I came here when my daughter was three months old. Now she lives here and has two children of her own."

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