I own a hangar at 45G (Brighton, Michigan) that is a mix of homes and hangars.
The hangar homes adjacent the runway and also the hangars (T's and boxes) all own shares of the airport association that has well defined rules about hangar use that mimics that of a municipal airport (aviation primary use requirements, etc). There is a board, several committees, etc. that manage the bylaws, revisions, and other administrative items (we had a lawsuit recently over tree maintenance of a neighbor for example), and airport management. The association sets the fee structure, and as a collective we determine the contribution levels and priorities.
When I purchased my hangar in 2020 I had to agree to the rules and obligations for the ownership of the airport share, as well as the rules around hangar use, etc.
It's a great value with very good cost control. I believe that much of the airports success is based on its model, the mix of residential and T-hangars, and the amazing commitment of the residents in both.
If I were to ever take on developing an airport for more than just myself, I would follow the model. It's proven to be very successful and more importantly, sustainable.