Realife Cooperative of Phalen Village is a limited equity housing cooperative. When you buy into RLPV you do not pay the market value of the unit you choose to occupy. You pay a specified, “limited” amount of the unit’s market value and the Cooperative holds a mortgage for the remainder. Each year your unit will increase in value by a pre-set amount. When you leave, you will be entitled to that annually increased amount (less any charges to repair your unit).