Chester Park Senior Housing: Frequently Asked Questions

Frequently Asked Questions

1. What is Chester Park?
2. Who runs Chester Park?
3. Are pets allowed?
4. Can I have overnight visitors?
5. What about safety?
6. What does the common fee cover?
7. What utilities are not covered by the common fee?
8. Who determines the common fee?
9. What do you mean by maintenance-free living?
10. What about financing?
11. I think I’d like to live in Chester Park, how do I proceed?
12. How do I sell my unit in the future if I decide to move?

1. What is Chester Park?

Chester Park Senior Housing, located in Anchorage, Alaska is an innovative non-profit member owned adult community made up of people 55 years of age and older. It is a unique blend of community living and independent lifestyle. The members of Chester Park enjoy a maintenance free home that is secure, worry free, and convenient. Residents enjoy a real sense of community and camaraderie. Chester Park homes are designed for seniors who desire an active retirement, including all the benefits of home ownership without the burdens typically accompanying a single family home.

2. Who runs Chester Park?

Chester Park is a member owned Cooperative run by an all-resident nine member board elected by the membership. There are also other all resident committees that are vital to the operation of Chester Park, including the finance committee, members’ forum, garden & landscape committee, hospitality, special events, acquisition, library and the emergency preparedness committee.

3. Are pets allowed?

Yes. Pets are limited to 2 per unit, some restrictions and regulations apply.

4. Can I have overnight visitors?

Guests of any age are welcome to stay with you in your unit. If you have more guests visiting than you can accommodate, a guest room is available to rent for a nominal fee.

5. What about safety?

Chester Park staff members are certified in first aid and CPR. Sprinkler systems are located in every unit and throughout the building. Emergency pull cords in every bedroom and bathroom allow for quick response to an emergency. Chester Park is a security building with on-site management providing immediate response to questions or maintenance problems 24 hours a day.

6. What does the common fee cover?

The common fee covers water, sewer, trash removal, gas, heat, hazard insurance, snow removal, grounds maintenance, cable television, and maintenance for the common areas of the building.

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7. What utilities are not covered by the common fee?

Electricity is not covered, and averages $38 per month. Telephone and specialty cable channels (HBO, Showtime, etc.) are not covered by the common fee. Although not required, we strongly recommend that our residents purchase personal property insurance through their personal insurance agent. Personal property insurance is inexpensive and will cover the expense of replacing furniture, valuables, and other assets in case of loss or damage.

8. Who determines the common fee?

The members at Chester Park, along with the board determine the fee. Fees cannot be raised without majority consent of the membership.

9. What do you mean by maintenance-free living?

Our maintenance staff will take care of any problem in your unit, including appliance repair, changing light bulbs, hanging pictures and curtain rods, plumbing problems, and moving heavy items. We repaint units every 5 years at no charge and re-carpet every 10 years. Chester Park has beautiful grounds in the summer, and well maintained parking lots and walkways in the winter.

10. What about financing?

Chester Park is a non-profit cooperative. The entire building was recently refinanced under a blanket mortgage at a 6.15% fixed interest rate. All members of Chester Park are shareholders. Individual share loans are also available. See management for details.

11. I think I’d like to live in Chester Park, how do I proceed?

We will give you copies of our cooperative by-laws and some additional paperwork to fill out at your leisure. To facilitate effective care in case of an emergency, we ask that you visit your physician and have him or her give us vital information regarding your health status, special needs, allergies, etc. Those records are kept strictly confidential. Another form asks questions about you, your hobbies, interests and expectations. These forms are given to our membership admissions committee who will schedule a personal interview with you. During this low pressure and friendly interview you and the committee will decide whether Chester Park is the right place for you to live. Upon receiving approval, you can move in immediately after closing.

12. How do I sell my unit in the future if I decide to move?

You are free to sell your unit at any time. You can choose to use a realtor or Chester Park management will sell your unit for a reasonable fee. Fair market value will determine how much equity you will re-coup on your unit.

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