What is the expected completion date?
Construction began November 2015 and the first residents at Smallman Place can expect to be moving in Fall 2016.
What are the condo fees?
The condo (HOA) fees are currently 23.5 cents per square foot. This includes maintenance of the public areas, snow removal, garbage, water and sewer. The fees include your water and sewer, as well as several other anticipated common expenses. HOA fees are subject to change based on decisions made by the homeowner's association.
What is included in the condo fees?
All maintenance of the common areas and fitness center, snow removal, taxes and insurance of the common areas, as well as garbage, water and sewer.
Is there parking available?
There is a 2-story onsite parking garage under the building, and several private garages available for purchase. If you purchase a space(s), it can be added to the sale price/mortgage.
What are the tax incentives?
The applicable tax incentive is the LERTA Enhanced Residential Tax Credit (Ord. 10). This program provides buyers with a real estate tax credit for 10-years on the purchase of a home/condominium in specific areas of the city. There is also an additional county tax abatement that reduces your assessment. See the tax page for more information.
Are there any other tax advantages?
Yes, real estate ownership typically provides you with income tax benefits. You’ll want to speak with a tax professional to determine just how this applies to your particular situation.
What will I save if I buy vs. rent?
We suggest you check out one of the “rent vs. buy” calculators online that are quite helpful in calculating this savings.
What if I have other questions or am ready to buy?
Reach out via our contact page or call Kathy Wallace at 412.855.8419.
*Disclaimer: All information is deemed reliable but not guaranteed