What is a “co-op?”

Cooperatives, or co-ops, are residential corporations governed by an elected resident Board of Directors. Resident equity owners are the shareholders of the non-profit corporation. For more information about co-ops, visit the National Association of Housing Cooperatives website.

What are Market Rate Co-ops?

In market rate co-ops, shareholders purchase and sell their shares at market value. 1300 is a market rate co-op. Market rate co-ops should not be confused with government-subsidized co-ops.

What are some benefits of living at 1300?

When did 1300 become a co-op?

1300 was converted to a market rate cooperative in 1981 – one of the first in Michigan! In 2011, 1300 will celebrate two landmark anniversaries – our 50th year as a property, and our 30th as a co-op.

What is the history of the building and the neighborhood?

1300 is located in Lafayette Park just east of downtown Detroit, Michigan. It is one of America’s first Urban Renewal Developments. The residential component of the Lafayette Park neighborhood used a design concept focused on mixed high and low-rise housing. 1300 Lafayette East was constructed as a 30-story luxury apartment. It was completed in 1964, following the construction of the Lafayette Pavilion and Lafayette Towers.

Is there a neighborhood association?

• LP50 (Lafayette Park 50) is our neighborhood association. The LP Mission Statement is: to continue sustaining and celebrating our neighborhood’s rich diversity, heritage, and beauty through inclusive and proactive resident-driven initiatives.

Where can you get more information?

For questions on marketing, available units and other specifics, please contact our management office rm@1300lec.com, or call us at 313-567-7400.

Who are real estate agents that offer properties for sale at 1300?

Shareholders may engage any licensed real estate agent they choose to market their unit.  Many of our units are listed currently with:

• Vasileff Reality, Inc.
• Dwellings Unlimited
• City Living Detroit