The Kingston was built in 1965 by Wilmar Properties as a luxury rental apartment building comprised of 88 units. It was converted to a cooperative in 1986, and the units were individually sold. Units come up for sale periodically.
The Kingston is located in the Borough of Avalon, nestled along the banks of the Ohio River and home to more than 5,000 residents. Avalon boasts many big city amenties, with easy access to State Route 65 and Interstates 79 and 279. Avalon is only five miles north of downtown Pittsburgh. Just a few minutes away from several major shopping malls. Avalon offers convenient local shopping and a variety of dining experiences. Bus service is just one block from the Kingston.
A large penthouse social room with a view of downtown Pittsburgh and Mt. Washington is available for private parties and social activities.
HOW THE KINGSTON COOPERATIVE WORKS
When you purchase your home in the Kingston Cooperative, you are technically not buying real estate. Instead, you are purchasing shares of stock in a legal entity, The Kingston Corporation, which owns the land, building and all common areas. Your shares of stock entitle you to occupy a specific unit, as defined in the Occupancy Agreement you receive with your stock certificate. So in the end, you own your own home - and, as an owner, you can sell your unit any time.
Cooperative ownership is popular in Oakland, Mt. Lebanon, Sewickley and other locations in the Pittsburgh area. This form of ownership is also common in cities like, New York, Philadelphia and Chicago to name just a few.
Owners elect a Board of Directors from among the owners. The board ensures that the cooperative is well maintained and run in accordance with the cooperative's bylaws, occupancy agreements and house rules. The board organizes a membership meeting at least annually, and arranges for staff to maintain the interior and exterior of the building. A management company is retained to run the day-to-day business of the Cooperative.