Personal Characteristics for Successful Senior Cohousing: A Proposed Theoretical Model

This paper aims to propose an integrated theoretical model with which to identify the personal characteristics, behaviors, and competencies of individuals who have successfully seen a senior cohousing project through to the residential stability phase. Numerous early-stage senior cohousing projects are registered each year. However, only a few of them are actually built, and when they are, the construction process takes an average of 10 years. Would-be cohousing residents have to put their tenacity and other competencies to the test to overcome the obstacles in their path before their residential complex is completed. The model proposed here analyzes senior cohousing initiatives as entrepreneurial undertakings. To this end, it draws upon a comprehensive review of the literature on entrepreneurship to identify the personal characteristics, behaviors, and competencies typical of entrepreneurs. In this model, participants in senior cohousing projects make use of these entrepreneurial competencies to help them overcome the obstacles to completing their housing development. However, for the would-be cohousing residents, the objective is not simply to build the residential complex but to enjoy the satisfaction and well-being this housing typology offers. Here, too, we find their entrepreneurial competencies can play a role.