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Paragraph 1: I'd rather the phrase "with the intention of creating" be replaced with "to create". There will be a co-op, period.
Paragraph 4: I would like to replace the following stretch o' text:
> to give residents responsibility and ownership of the building. In doing this, we create
with this one:
> to give residents the opportunity to create
Residents will not get ownership beyond its figurative meaning. Best not to confuse at this point.
This is a well-written letter, but its readability score is a bit high. I used [this site](http://www.readability-score.com/) to check it out. I think it should be OK as-is, but it's always something to keep in mind.