and the rumors are true

[spacebug]

Dear Resident: This letter is to inform you that the building you reside in has been sold... New Ownership will be converting the buildings to condominiums later this year.

Well, fuck. We liked it here.

We could try to buy it, but the weirdnesses here make us unsure that we'd want to be tied to it, and the glut of similar projects happening all over the twin cities seem to insure that it wouldn't be easily resellable. And even if it was perfect and we wanted to buy it, and we could afford it, we'd be displaced during conversion anyway.

So, we don't know when we're kicked out, the letter was a form letter and purposely vague. But I guess we're moving this summer.

Comments

[bohemianrapsody.livejournal.com]

To echo the others, that sucks. Last week I just read a big article in the City Pages about the condo explosion in Minneapolis. (Obviously St. Paul isn't immune) I'm all for "owning is better then renting" but it sounds like the materials used were sub-par and all just cosmetic. Someone renting a place for $700 a month then seeing eventually on the market for $220,00 after being kicked out is just "ouch"
I've considered buying a condo, but those association fees suck..

[maatnofret.livejournal.com]

Here, here. I will also add that 185,000 is way, way too much to spend on what amounts to a 750 square foot apartment.

I wonder how long it will be before we all more into North Minneapolis and Frogtown.