SoWhat tower condos: Price reduced
You can now own a closet in the John Ross (Is that the one that's leaning?) for a mere $311 a square foot. Go by streetcar!
| Posted at 12:06 PM | Permalink |
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Comments (21)
Wait, is one of those buildings REALLY leaning??
Posted by PJB | July 15, 2009 12:18 PM
That's the much-repeated rumor.
Posted by Jack Bog | July 15, 2009 12:26 PM
I wonder if the slashed prices are really a reaction to market conditions, or if this is a sign of a special assessment coming down the pike. Regardless, it's going to be interesting when the first round of special assessments blow through SoWa. If there's major work to be done, people who buy in now are going to be pissed when they learn about it.
Posted by James | July 15, 2009 12:37 PM
My curiosity is how much the HOA dues are each month. Does $311/sq. ft. come with a parking space?
Posted by Anthony | July 15, 2009 12:38 PM
Parking space? What would you need one of those for? Shame on you!
Posted by Jon | July 15, 2009 12:59 PM
Jack, do you have a link for the rumor that a tower is leaning? I havn't heard anyone else mention that.
Posted by D.J. | July 15, 2009 1:15 PM
Darn traffic on I-5. If they sell out before I can get up there I am gonna be really peeved. GET OUTTA MY WAY YOU SUNDAY DRIVER HONK HONK HONK!!!
Posted by mp97303 | July 15, 2009 1:19 PM
Looks like their Bellevue project isn't doing so hot either:
http://biturl.cc/2X
http://biturl.cc/BL
Posted by Heditor | July 15, 2009 1:20 PM
Our post about the rumored lean is here.
Posted by Jack Bog | July 15, 2009 2:06 PM
Sorry, but the lean rumor is load of crap.
Posted by Cam'ron | July 15, 2009 2:24 PM
I'd like a citation on this, but I was just told by my wife that she'd heard about the John Ross price reduction and that the HOA is still $1600/month.
Yep, there it is:
OPB SoWhat condos.
Insane.
Posted by Roamsedge | July 15, 2009 3:29 PM
That $1,600 per month must be a misprint. It is more likely $160 per month.
Posted by PD | July 15, 2009 3:50 PM
It could be that the $1,600/month for HOA dues is for the $1.5 million penthouse unit. Like it really matters to me though...
Posted by Usual Kevin | July 15, 2009 4:32 PM
If the HOA fees truly are $1600 a month, then that's even more proof the folks who built and priced those condos were/are on fairy juice.
$1600? That's just insane -- even in the good times. You could easily buy another house for that amount of money.
Posted by talea | July 15, 2009 7:59 PM
That $1,600 per month must be a misprint. It is more likely $160 per month.
No, its probably right. Check these out for a taste of Condo HOA fees in Portland.
http://agent503.files.wordpress.com/2009/02/john-ross-availability-b-2-27-09-1.pdf
http://agent503.files.wordpress.com/2009/03/937-price-list-2-27-09.pdf
Posted by Jon | July 15, 2009 8:57 PM
I like the note at the bottom: HOVs include a MAJORITY of the....". Always a loose end. Attorney Steve Janik must have written this, like the loose ends for each weeks new scheme for MLS and Triple AAA stadiums.
Posted by lw | July 15, 2009 10:19 PM
Whatever the dues, I would bet that a lot of them aren't being paid, and proper reserves aren't accumulating. Meaning whoever buys in to an unsold unit is also buying into their fair share of this deficit, and may indeed face a special assessment in the near future.
Caveat emptor.
Posted by john rettig | July 16, 2009 12:52 AM
John is on the right track. I have heard that the HOA's are behind and lawsuits may be mounting. The approved number of rental units vs owner occupied is well over HOA limits as well.
Edlan is also the one that took Dollar Store money at the Civic. Give me a break Edlan, you aren't that successful. Get your head out of the trough, take your losses and move out of town.
Posted by brian | July 16, 2009 7:27 AM
That $1,600 per month must be a misprint. It is more likely $160 per month.
OPB had a piece on the condos this morning and mentioned the $1,600/month HOA fee.
Posted by travis | July 16, 2009 9:17 AM
Do people who buy here wake up in the morning and say to themselves, "I have so much money I just don't know what to do with it. Rather than deciding whether to purchase or rent a home, why not do BOTH and move to SoWhat!"
Posted by NW Portlander | July 16, 2009 1:34 PM
I really think that if all of those buildings were built downtown on those surface parking lots that downtown Portland might be a nicer place to shop and do business.
Posted by JL | July 17, 2009 12:13 PM