Articles
   
       
       
Pics/Video
   
       
       
Shop
Search
 
 
 
 
 
Home   Articles   Pics/Video   Gear   Wake 101   Events   Community   Forums   Classifieds   Contests   Shop   Search
WAKE WORLD HOME
Email Password
Go Back   WakeWorld > Non-Wakeboarding Discussion

Share 
Reply
 
Thread Tools Display Modes
Old    Paul (paublo)      Join Date: Jul 2002       12-06-2011, 12:44 PM Reply   
I have had different boats for over 30 years but have never had a garage to put them in so they have always been parked outside. I have had room to park them along the side of my houses but I have also had to bend over to the HOA and be creative in finding solutions. In Arizona this is really hard on the boat and covers. So I have developed an extreme case of garage envy that just gets worse and worse with every post and picture that I see on here of a garage.

A few years ago a couple of developers around the Phoenix area started building these "Storage Condos" where you buy and own your own garage. Originally I looked at them and said that no way am I paying $100/sq. ft. for a section of a metal building. With all real estate in the tank right now and having two boats to find places for, I started looking again and the cost while still over priced, is now in the range of being considered ($65/sf). There is a place that would be fairly convenient for me, so that I can pick it up on the way to and from the lake. I am looking at a 22'x45' unit that is 16' height clear, with an 18' wide by 14' high door, you get a single 20A. outlet, and a light. There is no heating or cooling, each unit is just vented. There are hose bibbs spread around outside, a wash area, dump station, and a common area with rest rooms and showers. All units have a 60' drive in front of them, so parking is easy. Security is top notch with keypad entry, 28 cameras, and every unit is alarmed. They have never had graffitti much less a break-in.

Have any of you done this or aware of any problems, etc? The annual HOA fee is $350 to cover power, water, security, maintenance, etc. Property taxes will be close to $1000/yr.
Old    SamIngram            12-09-2011, 10:35 AM Reply   
LOL... I have a great deal of knowledge on all these projects in the greater Phoenix area. I worked with one developer and did other work on the other projects. If you do buy one of these, make damn sure that the HOA is actually funded and that the developer/owner isn't in foreclosure or bankruptcy. Both scenarios can and will effect you down the road. I have done lots of work regarding tax appeals on these to get the tax rate down also. If you are actually interested in a specific unit let me know and I will do the research and give you the low-down on it, I have almost all the information on every unit...
Old    Paul (paublo)      Join Date: Jul 2002       12-10-2011, 6:55 AM Reply   
Premier on I-17/Deer Valley-I am told they are about 1/3 sold with the others being leased with ownership by an LLC, which is a group of lenders (bank).
Thanks for your insight.
Old    SamIngram            12-12-2011, 8:53 AM Reply   
That is a Michael Legault project. Be very careful of the units on the northwest side, they flood when the creek flows. Actually the entire cul-de-sac has been known to flood. If you look at the aerial photos you can see how they have tried to make sure the water doesn't get in, but it still does.

This project was originally approved with the condition that the units were limited with 110v outlets. Most of the other units around the valley have 220 or even three phase in them. Many people use welders and clothes dryers in them. Several units have recently sold for $30K. This is one of the projects that I would avoid, they have the least amenities for a mid-level price. The only positive is location. The HOA is still in control of the developer/owner and is operating on borrowed money. IMO it is operating on borrowed time and the current owners will left in a tough situation when they start to rent them for a cheaper amount than it costs to own. Let me know if you want more information, I have the original drawings, approvals, current HOA books, and old bankruptcy paperwork from 2009.
Old    SamIngram            12-12-2011, 9:02 AM Reply   
Here is a blow-up of the FEMA flood map. You can see the project it self is not in a flood zone, but the area to the northwest is in an AE flood zone. You can see how the area to the immediate northwest on Skunk Creek was part of a detailed study. This study was required during the permitting process, which resulted in the catch basin north of the property...

AE Floodzone definition:

Areas subject to inundation by the 1-percent-annual-chance flood event determined by detailed methods. Base Flood Elevations (BFEs) are shown. Mandatory flood insurance purchase requirements and floodplain management standards apply.
Attached Images
 
Old    Paul (paublo)      Join Date: Jul 2002       12-12-2011, 10:27 AM Reply   
Sam, thanks for the additional information. Yeah, at first I was a little disappointed about just a single 20A/120V circuit. It sounded a little limiting. But now I think that it is somewhat of an advantage- less power means it will be less likely to be used for things other than storage, like a shop or business. Every unit that hasn't been sold and is owned by the bank/LLC is currently rented. They are getting between $235/mo for a 14x25 to $465 for a 22x45 in rent. Some current HOA info would be very interesting. If it is easier, shoot me an email to paul@lswphx.com and I'll give you a phone number.

Reply
Share 

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On



All times are GMT -7. The time now is 10:44 AM.

Home   Articles   Pics/Video   Gear   Wake 101   Events   Community   Forums   Classifieds   Contests   Shop   Search
Wake World Home

 

© 2012 eWake, Inc.    
Advertise    |    Contact    |    Terms of Use    |    Privacy Policy    |    Report Abuse    |    Conduct    |    About Us