What changes can I make to my condominium prior to construction?
You can choose your interior features from the list of options and upgrades professionally chosen by our interior designer.
What is the Association Fee and what does it cover?
The fee is $221 per month and includes professional on site management, snow removal, trash removal, landscaping maintenance, elevator maintenance, care of the common areas and amenities, and all of the insurance for replacement value on the condominium.
Will the fee go up?
Only as costs for provided services increase, or as services are added to the budget.
What is a reserve fund?
It is the savings account for the condominium association. When repairs are needed that are not covered in the normal budget are needed (driveway sealing, roof repair, etc.) the reserve is available for the unit owners to use to pay for those items by vote of the association. That way, surprise assessments are seldom necessary.
If the association's insurance covers replacement value, what do unit owners cover?
Personal belongings, a $100,000 liability policy, and anything added to the condominium after closing.
How does the association work?
All owners become a member of the association which is run by a board of directors. The board of directors includes a representative from Johnson Redevelopment, who owns the retail, Gorman and Company, who owns the apartments, and when the condominiums are occupied, you elect an owner as a board representative. The association decides on any rule changes or changes to your services and fee.
Who maintains the inside of the condominium?
Gorman and Company, Inc. gives you a one year builder's warranty on the condominium, and the appliances and mechanicals are all covered under manufacturers’ warrantees. After the warranties run out, the condominium interior is just like owning a house; the unit owners are responsible for maintenance. Our Homeowner’s Manual covers the warranty on each item in your home in detail.
How do taxes work?
Your condominium is assessed by the City of Racine, just like a single family home would be. Because of this, you also get the benefit of potential appreciated value on your condominium, should you decide to sell it later.
Once I own the condominium, can I do what I want to it?
The interior is yours to update and change as your lifestyle changes. Just like a single family home, if you are doing interior construction, you need to apply for a building permit and get plans approved by the association's board of directors.
What are the pet rules?
Pets not covered by the association’s insurance policy are not allowed. Pet rules are subject to any changes by the association.