With all the living options available for seniors, cooperative living may be the best thing for your lifestyle. What is coop living? The idea behind cooperative living started over 180 years ago. The objective was to create and foster common interest communities. We do that be jointly owning a common property area with other individuals. When you purchase a share into the coop, you own your respective residence within the property. Plus, you own a joint share of the common areas of the property.