Our Mission Statement informs all of our initiatives.
To provide a safe and distinctive environment, that enhances both the quality of life and property values for all our residents.
We will do this through effective, efficient and continued support of initiatives and capital improvements that benefit the greater good of the community, ensuring that Prospect Woods is acknowledged as a well-maintained, desirable and premium location within the Ridgefield and Connecticut real estate markets.
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Owners are highly satisfied with Prospect Woods!
A recent survey showed that our homeowners are highly satisfied with Prospect Woods.
What they love is our location—a quiet, hillside retreat, just minutes from Ridgefield’s center.
Our philosophy is financial transparency. Monthly Financial Statements are available to all Homeowners on our Portal. We maintain and regularly update our 10-year financial plan that is reviewed annually at our end-of-year Owners' meeting. Assessments are a last resort and are communicated to owners in advance. They are also woven into our common charges to avoid large lump sum payments.
We are attractive to banks. We aim to maintain a Reserve balance that represents 20% of our Operating Costs including Capital Projects.
Maintaining Prospect Woods' property is our number one priority. New Sidewalks and Roads were installed in 2022. Roofs were replaced on most of our buildings. The remaining roofs will be replaced over the next five to 7 years. These projects can all be handled within our current forecasts and through close management of our balance sheet.
