Leasing, renting, what does this mean for owners?

[Kristen DiFate]

Hey folks,

I sent an email to Josh Wohlreich in response to Christin Beck's email announcement about leasing lofts. I thought I'd share.

Recognize that I have more questions but the majority of those hinge on the answer to this one.

Any other info to share?

Kristen DiFate

---------- Forwarded message ----------
From: Josh Wohlreich <JWohl...@orcharddevelopmentgroup.com>
Date: Tue, Sep 2, 2008 at 1:20 PM
Subject: FW: IMPORTANT INFORMATION FROM ORCHARD DEVELOPMENTGROUP
To: dif...@gmail.com

Ms. DiFate,

Thank you for taking the time to express your concerns.  Orchard has done our best to anticipate potential issues and or concerns that owner such as you will have.  We fully anticipated that our letter would not address them all.  If you would be so kind, please allow us the time to hear from as many residents that wish to contact us.  We will digest these comments and will respond to the residents in a comprehensive manner.  You will be able to see what other resident's concerns are in addition to your own, and Orchard's response to these concerns.

 

I will be gathering this information over the next week to week and a half, and will be in touch shortly there after.

 

Again, thank you for the email.

 

Sincerely

Josh Wohlreich

Ely Walker Residential, LLC

On Tue, Sep 2, 2008 at 12:29 PM, Kristen DiFate <kri...@difate.com> wrote:

Hi Josh,

If the association is handed over to the owners when x% of the units are sold and Orchard no longer plans to sell the units, since we have not reached x%, what does this mean in terms of our association?

Kristen DiFate

On Sat, Aug 30, 2008 at 10:58 AM, Christin Beck <CB...@orcharddevelopmentgroup.com> wrote:

Please read the attached letter for important information about the Ely Walker Lofts.

Thanks,

 

Christin E. Beck | Orchard Development Group
*: 1520 Washington Ave | Saint Louis, MO 63103 

(:314) 436-7451| ::cb...@orcharddevelopmentgroup.com

www.elywalkerlofts.com | www.lafayettewalk.com

www.trianoncondos.com |  www.theannexlofts.com 

www.terracottalofts.com | www.orcharddevelopmentgroup.com

 

[Matt Sebek]

All -

I've noticed that there are a variety of large scale (leasing, association concerns), as well as small scale (trash chute, homeless people in the alley), questions floating around the building.

Regardless of our involvement in the association, I think many of the questions and concerns could be addressed if we met as a building once a month.  It's been far too lax over the past year, and if the building is going to experience an influx of new leasers, now is the time to come together.

I'll work on setting something up with Joe.

--Matt Sebek

--
Matt Sebek
www.mattsebek.com
matt....@gmail.com
314-606-0528

[Timothy McKay]

I agree.  Meeting once a month will definitely be beneficial.   Tim --- On Tue, 9/2/08, Matt Sebek <matt....@gmail.com> wrote:

[lebo83]

we really should meet. I also think we should do this soon, so we can
draft a more formal response of questions/concerns we have. In my
experience, we may not get anywhere if we do not come together as a
group. I also just read the condo by-laws, I am not sure if you asked
or were told, but when i purchases I was told a maximum of 25% of the
units could be rented, that is not what the condo by-laws say, if any
of you were curious how this would work if you were also under the
impression of the 25% rule.

I do not think we will change their mind on leasing, but I think we
should try to get a different management company, potentially have
Christin and John do that if they are going to stay on to lease the
units. I think we all have been unhappy with the performance of the
current company.

Jon

On Sep 2, 3:00 pm, Timothy McKay <tmckay...@yahoo.com> wrote:
> I agree.  Meeting once a month will definitely be beneficial.
>  
> Tim
>

> --- On Tue, 9/2/08, Matt Sebek <matt.se...@gmail.com> wrote:

>
> From: Matt Sebek <matt.se...@gmail.com>
> Subject: [Ely Walker] Re: Leasing, renting, what does this mean for owners?
> To: elywalk...@googlegroups.com
> Date: Tuesday, September 2, 2008, 2:48 PM
>
> All -
>
> I've noticed that there are a variety of large scale (leasing, association concerns), as well as small scale (trash chute, homeless people in the alley), questions floating around the building.
>
> Regardless of our involvement in the association, I think many of the questions and concerns could be addressed if we met as a building once a month.  It's been far too lax over the past year, and if the building is going to experience an influx of new leasers, now is the time to come together.
>
> I'll work on setting something up with Joe.
>
> --Matt Sebek
>

> On Tue, Sep 2, 2008 at 2:33 PM, Kristen DiFate <spacerang...@gmail.com> wrote:
>
> Hey folks,
>
> I sent an email to Josh Wohlreich in response to Christin Beck's email announcement about leasing lofts. I thought I'd share.
>
> Recognize that I have more questions but the majority of those hinge on the answer to this one.
>
> Any other info to share?
>
> Kristen DiFate
>
> ---------- Forwarded message ----------
> From: Josh Wohlreich <JWohlre...@orcharddevelopmentgroup.com>
> Date: Tue, Sep 2, 2008 at 1:20 PM
> Subject: FW: IMPORTANT INFORMATION FROM ORCHARD DEVELOPMENTGROUP
> To: dif...@gmail.com
>
> Ms. DiFate,
>
> Thank you for taking the time to express your concerns.  Orchard has done our best to anticipate potential issues and or concerns that owner such as you will have.  We fully anticipated that our letter would not address them all.  If you would be so kind, please allow us the time to hear from as many residents that wish to contact us.  We will digest these comments and will respond to the residents in a comprehensive manner.  You will be able to see what other resident's concerns are in addition to your own, and Orchard's response to these concerns.
>  
> I will be gathering this information over the next week to week and a half, and will be in touch shortly there after.
>  
> Again, thank you for the email.
>  
> Sincerely
> Josh Wohlreich
> Ely Walker Residential, LLC
>

> On Tue, Sep 2, 2008 at 12:29 PM, Kristen DiFate <kris...@difate.com> wrote:
>
> Hi Josh,
>
> If the association is handed over to the owners when x% of the units are sold and Orchard no longer plans to sell the units, since we have not reached x%, what does this mean in terms of our association?
>
> Kristen DiFate
>
> On Sat, Aug 30, 2008 at 10:58 AM, Christin Beck <CB...@orcharddevelopmentgroup.com> wrote:
>
> Please read the attached letter for important information about the Ely Walker Lofts.
> Thanks,
>  
>
> Christin E. Beck | Orchard Development Group
> *: 1520 Washington Ave | Saint Louis, MO 63103 

> (:314) 436-7451| ::cb...@orcharddevelopmentgroup.comwww.elywalkerlofts.com |www.lafayettewalk.comwww.trianoncondos.com |  www.theannexlofts.com www.terracottalofts.com| www.orcharddevelopmentgroup.com
>  
>
> --
> Matt Sebekwww.mattsebek.com
> matt.se...@gmail.com
> 314-606-0528

[Jessie D 228]

This is AWFUL news. I fully understand that the current housing
market is making things difficult on developers wallets, but the
current residents/buyers should not suffer. This leasing situation is
REALLY bad for our resale value and our ability to lease out our
homes. I am furious.

Jessie Miller

[Matt Sebek]

I have mixed feelings on the leasing arrangement.  While I certainly didn't think we'd be in this situation when I purchased my unit two years ago, I don't think it's as bad as I originally gauged.  The truth is, we can't sell our places for their appropriate values right now.  If this is the best arrangement for the building to get through a tough time, and pull us all into a more prosperous market so we *can* sell, then so be it.

That said, I think we need to get together to discuss these issues - and here some alternative opinions from our peers.  Hopefully, we'll all leave feeling better about the situation, and the building as a whole.

[lebo83]

I know we are going to have a meeting soon, maybe people should post
issues we want to address on here before we get together.

I think we need to address the HOA. I counted the pins for sold units
a few weeks ago and according to the board, the building is slightly
over 50% sold. At the first HOA meeting we had, michelle told us that
at 50% we would get 1 more member, so I think we need to ask for that.
I know that only gives us 2 out of the 5, but i still think that is
important.

Also, we need to find out more about the purpose of the HOA, becuase
they also told us we do not get total control until 75% of the
building is sold. With this new development, that may never happen. If
that is the case, we need to fight that becuase as owners, we should
have some say as to the insurance, management company, policies of our
building etc.

How the money the people are renting will be utilized. Clearly, a
majority of that has to go to who owns the units, but how much each of
them pay to the association or if the association can benefit at all
from the rentals should be explored. If allowed, this could be a way
we could subsidize our fees. Again, this goes back to how the HOA is
controlled, but worth exploring.

I believe the syndicate is half condo half rental, we should see how
that building is structured to bring up to orchard.

Thats all I have for now, I look forward to your thoughts on these and
all other aspects of the leasing plan.

Jon

On Sep 3, 9:37 am, "Matt Sebek" <matt.se...@gmail.com> wrote:
> I have mixed feelings on the leasing arrangement.  While I certainly didn't
> think we'd be in this situation when I purchased my unit two years ago, I
> don't think it's as bad as I originally gauged.  The truth is, we can't sell
> our places for their appropriate values right now.  If this is the best
> arrangement for the building to get through a tough time, and pull us all
> into a more prosperous market so we *can* sell, then so be it.
>
> That said, I think we need to get together to discuss these issues - and
> here some alternative opinions from our peers.  Hopefully, we'll all leave
> feeling better about the situation, and the building as a whole.
>

> On Wed, Sep 3, 2008 at 9:31 AM, Jessie D 228 <jessiedmil...@yahoo.com>wrote:
>
>
>
> > This is AWFUL news.  I fully understand that the current housing
> > market is making things difficult on developers wallets, but the
> > current residents/buyers should not suffer.  This leasing situation is
> > REALLY bad for our resale value and our ability to lease out our
> > homes.  I am furious.
>
> > Jessie Miller
>
> --
> Matt Sebekwww.mattsebek.com

> matt.se...@gmail.com
> 314-606-0528

[Matt Sebek]

Excellent points, Jon.

We're looking to schedule a meeting for *NEXT MONDAY NIGHT* to go over some of these issues.  I'll likely post something in the elevator/mail area tomorrow.  Keep your eyes open.

[Kristen DiFate]

Everyone has brought up important issues and who ever said we need to pull together is right. I think meeting as a group is an excellent idea. Would anyone be totally opposed to meeting during the day over the weekend? More owners may be available on a non business day.

Kristen

[lebo83]

I would be available on sunday, I have a exam on saturday. monday also
works for me

On Sep 3, 10:32 pm, "Kristen DiFate" <spacerang...@gmail.com> wrote:
> Everyone has brought up important issues and who ever said we need to pull
> together is right. I think meeting as a group is an excellent idea. Would
> anyone be totally opposed to meeting during the day over the weekend? More
> owners may be available on a non business day.
>
> Kristen
>

> On Wed, Sep 3, 2008 at 3:25 PM, Matt Sebek <matt.se...@gmail.com> wrote:
> > Excellent points, Jon.
>
> > We're looking to schedule a meeting for *NEXT MONDAY NIGHT* to go over some
> > of these issues.  I'll likely post something in the elevator/mail area
> > tomorrow.  Keep your eyes open.
>

> > matt.se...@gmail.com
> > 314-606-0528

[Kristen DiFate]

Any news? Have we decided a day/time?

Kristen

[Timothy McKay]

Monday would work better for me. --- On Sat, 9/6/08, Kristen DiFate <spacer...@gmail.com> wrote:

From: Kristen DiFate <spacer...@gmail.com> Subject: [Ely Walker] Re: Leasing, renting, what does this mean for owners? To: elywalk...@googlegroups.com

[Kristen DiFate]

Matt,

Have you and your group settled on Monday or is it still up in the air?

Kristen

[Matt Sebek]

Sorry everyone - have been out of town all weekend.

I'm going to put some notices in the elevator later today.  Is Monday okay with everyone, or is that too late of notice now?

I'm fine with pushing it back towards the end of the week.

[Timothy McKay]

Still works for me.

--- On Sun, 9/7/08, Matt Sebek <matt....@gmail.com> wrote:

[Kristen DiFate]

I teach nights the first half of the week so for me Thursday/Friday is better. However, I'm at the mercy of the masses. Just take good notes and yell a little louder for me. ;)

Thanks for coordinating, Matt. Greatly appreciated.

Kristen

[lebo83]

monday is fine with me,

On Sep 7, 12:43 pm, "Kristen DiFate" <spacerang...@gmail.com> wrote:
> I teach nights the first half of the week so for me Thursday/Friday is
> better. However, I'm at the mercy of the masses. Just take good notes and
> yell a little louder for me. ;)
>
> Thanks for coordinating, Matt. Greatly appreciated.
>
> Kristen
>

> On Sun, Sep 7, 2008 at 11:15 AM, Timothy McKay <tmckay...@yahoo.com> wrote:
> > Still works for me.
>

> > --- On *Sun, 9/7/08, Matt Sebek <matt.se...@gmail.com>* wrote:
>
> > From: Matt Sebek <matt.se...@gmail.com>

> > Subject: [Ely Walker] Re: Leasing, renting, what does this mean for owners?
> > To: elywalk...@googlegroups.com
> > Date: Sunday, September 7, 2008, 11:13 AM
>
> >  Sorry everyone - have been out of town all weekend.
>
> > I'm going to put some notices in the elevator later today.  Is Monday okay
> > with everyone, or is that too late of notice now?
>
> > I'm fine with pushing it back towards the end of the week.
>

> > On Sat, Sep 6, 2008 at 8:49 PM, Kristen DiFate <spacerang...@gmail.com>wrote:
>
> >> Matt,
>
> >> Have you and your group settled on Monday or is it still up in the air?
>
> >> Kristen
>

> >> On Sat, Sep 6, 2008 at 8:05 PM, Timothy McKay <tmckay...@yahoo.com>wrote:
>
> >>>   Monday would work better for me.
>

> >>> --- On *Sat, 9/6/08, Kristen DiFate <spacerang...@gmail.com>* wrote:

>
> >>> From: Kristen DiFate <spacerang...@gmail.com>
> >>> Subject: [Ely Walker] Re: Leasing, renting, what does this mean for
> >>> owners?
> >>> To: elywalk...@googlegroups.com
> >>> Date: Saturday, September 6, 2008, 7:55 PM
>
> >>>  Any news? Have we decided a day/time?
>
> >>> Kristen
>

> >>>> > >> > Matt Sebekwww.mattsebek.com<http://sebekwww.mattsebek.com/>

> >>>> > >> > matt.se...@gmail.com
> >>>> > >> > 314-606-0528
>
> >>>> > > --
> >>>> > > Matt Sebek
> >>>> > >www.mattsebek.com
> >>>> > > matt.se...@gmail.com
> >>>> > > 314-606-0528
>
> > --
> > Matt Sebek
> >www.mattsebek.com

> > matt.se...@gmail.com
> > 314-606-0528

[Matt Sebek]

I've been asked by several people in the building to delay the meeting until later in the week.  I hope that's still cool with everyone.  This will give everyone in the building a few days notice as well.

I'm printing out something small to hang in the elevators tonight to let everyone know.

[Kristen DiFate]

Sweet -- thanks Matt.

[Matt Sebek]

Well - I put signs up this morning in the elevator and mail area....and they had been removed by lunch time.

Perfect.

On Sun, Sep 7, 2008 at 11:17 PM, Matt Sebek <matt....@gmail.com> wrote:

[Timothy McKay]

I can help slide them under people's doors if we want to go that route.  I can also make copies of them at my work if you want to forward me the sign.

--- On Mon, 9/8/08, Matt Sebek <matt....@gmail.com> wrote:

[Preston]

Who would remove them? Why?

Do you think it's worth trying to get together an email database to
reach residents?

On Sep 8, 3:32 pm, Timothy McKay <tmckay...@yahoo.com> wrote:
> I can help slide them under people's doors if we want to go that route.  I can also make copies of them at my work if you want to forward me the sign.
>  
> --- On Mon, 9/8/08, Matt Sebek <matt.se...@gmail.com> wrote:
>
> From: Matt Sebek <matt.se...@gmail.com>
> Subject: [Ely Walker] Re: Leasing, renting, what does this mean for owners?
> To: elywalk...@googlegroups.com
> Date: Monday, September 8, 2008, 3:22 PM
>
> Well - I put signs up this morning in the elevator and mail area....and they had been removed by lunch time.
>
> Perfect.
>

> On Sun, Sep 7, 2008 at 11:17 PM, Matt Sebek <matt.se...@gmail.com> wrote:
>
> I've been asked by several people in the building to delay the meeting until later in the week.  I hope that's still cool with everyone.  This will give everyone in the building a few days notice as well.
>
> I'm printing out something small to hang in the elevators tonight to let everyone know.
>

> Matt Sebekwww.mattsebek.com
> matt.se...@gmail.com
> 314-606-0528
>
> --
> Matt Sebekwww.mattsebek.com
> matt.se...@gmail.com

> 314-606-0528- Hide quoted text -
>
> - Show quoted text -

[Matt Sebek]

No clue. 

Seems like an odd thing to do - whether it was management, a tenant, or the cleaning crew.

[Kristen DiFate]

Orchard probably removed the signs. It's hard to rent units if the owners are upset.

Unfortunately, I'll miss the meeting Wednesday but definitely push this Google Group. It's a great way to keep in touch regarding. Unlike a mailing list, it allows people to subscribe/unsubscribe at their will and without a moderator. For the last year I've pushed for an email database from Christin but each time the file gets lost in transmission. I'll push to get it again.

Also, if someone could take notes, I'm interested to hear everyone's thoughts and how we plan to move forward.

[Timothy McKay]

I did have a few agenda items for tomorrow and these might be already included but here's the list:   Increased security (camera door controls to be paid for by Orchard?) Adding back free weights to the gym? Continuation of reduced monthly maintenance fees until the units are sold to 75% as previously agreed? New office manager? - i'm a little disappointed in the current one Better signage for towing in parking garages? (you park in my space and you will be towed) Sign up sheets for roof parties -- owners getting priority? Renters getting a limited voting right in building events?

--- On Tue, 9/9/08, Kristen DiFate <spacer...@gmail.com> wrote:

[Matt Sebek]

All good topics.  I've added them to the list. 

1.) I plan on "leading" the discussion for sake of organization...although I'm hoping it's more of a public forum, if you will.

2.) I planned on having someone take notes, as well as assign some action items - so things actually get resolved.

3.) Also plan on writing down email addresses.

4.) The meeting is Wednesday @ 7:30PM.  I'll be putting signs up *again* today.

[Preston]

Will anyone there be able to answer our questions? Or is this going
to be more of an "airing of grievances"?

On Sep 9, 2:47 pm, "Matt Sebek" <matt.se...@gmail.com> wrote:
> All good topics.  I've added them to the list.
>
> 1.) I plan on "leading" the discussion for sake of organization...although
> I'm hoping it's more of a public forum, if you will.
>
> 2.) I planned on having someone take notes, as well as assign some action
> items - so things actually get resolved.
>
> 3.) Also plan on writing down email addresses.
>
> 4.) The meeting is Wednesday @ 7:30PM.  I'll be putting signs up *again*
> today.
>
>
>
>
>
> On Tue, Sep 9, 2008 at 1:57 PM, Timothy McKay <tmckay...@yahoo.com> wrote:
> > I did have a few agenda items for tomorrow and these might be already
> > included but here's the list:
>
> > Increased security (camera door controls to be paid for by Orchard?)
> > Adding back free weights to the gym?
> > Continuation of reduced monthly maintenance fees until the units are sold
> > to 75% as previously agreed?
> > New office manager? - i'm a little disappointed in the current one
> > Better signage for towing in parking garages? (you park in my space and you
> > will be towed)
> > Sign up sheets for roof parties -- owners getting priority?
> > Renters getting a limited voting right in building events?
>

> > --- On *Tue, 9/9/08, Kristen DiFate <spacerang...@gmail.com>* wrote:
>
> > From: Kristen DiFate <spacerang...@gmail.com>
> > Subject: [Ely Walker] Re: Leasing, renting, what does this mean for owners?
> > To: elywalk...@googlegroups.com
> > Date: Tuesday, September 9, 2008, 1:15 PM
>
> >  Orchard probably removed the signs. It's hard to rent units if the owners
> > are upset.
>
> > Unfortunately, I'll miss the meeting Wednesday but definitely push this
> > Google Group. It's a great way to keep in touch regarding. Unlike a mailing
> > list, it allows people to subscribe/unsubscribe at their will and without a
> > moderator. For the last year I've pushed for an email database from Christin
> > but each time the file gets lost in transmission. I'll push to get it again.
>
> > Also, if someone could take notes, I'm interested to hear everyone's
> > thoughts and how we plan to move forward.
>

> > On Mon, Sep 8, 2008 at 3:45 PM, Matt Sebek <matt.se...@gmail.com> wrote:
>
> >> No clue.
>
> >> Seems like an odd thing to do - whether it was management, a tenant, or
> >> the cleaning crew.
>

> >>> > Matt Sebekwww.mattsebek.com<http://sebekwww.mattsebek.com/>

[Matt Sebek]

With all of the rumors and questions floating around - we figured it would be good to get everyone together, figure out the main concerns, and have a couple of us meet with Michelle and Christin to figure out solutions.

Nothing will be resolved tonight - but that's been the case for the past 12 months.  We can get the ball rolling by figuring things out as a group.

With more people moving in every week, we also figured this would be a good time to meet some new faces.

[Cindy Parker]

Ron and I want to attend this evening. Ron may have to work late, but
I will be there. Great idea Matt.