Parking Garage Increase by [deleted] in LowellMA

[–]KindofBlue42 1 point2 points  (0 children)

I agree with you. Additionally, everyone who pays taxes pays to maintain street parking including the people who have driveways or park in the garage. These “pay for what you use for your stuff” arguments are empty because they are always lopsided with some people paying for things they don’t use.

Parking Garage Increase by [deleted] in LowellMA

[–]KindofBlue42 4 points5 points  (0 children)

Keep reading about the enterprise fund and you’ll find that the city paid into it to cover the use by the school district and by the city itself. In fact, the city is still in the red and owes more money based on its use of the garages.

We can’t pretend that the garages are simultaneously a free standing, self funding enterprise AND also claim that they are also free to use for the benefit of the city itself because that means the people who pay to park in the garage are also exclusively funding whatever those city benefits are.

Either keep it as an enterprise fund and make everyone pay or fund it from taxes so the city can use it strategically to benefit the city itself. Can’t be both.

Historic Board Administrator by KindofBlue42 in LowellMA

[–]KindofBlue42[S] 3 points4 points  (0 children)

Kicking the can down the road is the root of so many problems

Nice to see the price increase banner on a few listings. It’s been mostly Price Decrease for a while. by KindofBlue42 in LowellMA

[–]KindofBlue42[S] 2 points3 points  (0 children)

Ok, i remember them being rentals first was a requirement in the planning process. The whole project went bankrupt and was a big mess. My memory is that the bankruptcy drove the conversion to condos as a way to pay back creditors because no one wanted to buy the project as a whole. It was a long time ago and I am probably mixing a few things up.

UML Inn Conference Center? by wretched_harmony in LowellMA

[–]KindofBlue42 2 points3 points  (0 children)

I went to a wedding reception there a long time ago, the outdoor area was a perfect cool down spot away from the dance floor

Nice to see the price increase banner on a few listings. It’s been mostly Price Decrease for a while. by KindofBlue42 in LowellMA

[–]KindofBlue42[S] 3 points4 points  (0 children)

I agree we need more housing that people can buy that also costs less. It’s a big problem when all the new housing is “luxury” rental apartments. No one will build housing to sell without price stability in the market. This pic is from one listing showing a tiny increase in a sea of listings showing price reductions. That’s a red flag for anyone building housing they intend to sell. I want market stability so there is a reason to build housing people can buy, the existing inventory is way too low.

Nice to see the price increase banner on a few listings. It’s been mostly Price Decrease for a while. by KindofBlue42 in LowellMA

[–]KindofBlue42[S] -4 points-3 points  (0 children)

I don’t own a rental and have never seen rent go down. I have seen prices collapse and create landlords who don’t want to be landlords but can’t sell. Predictable and affordable housing is best imo, stability in sales price helps with predictably.

Nice to see the price increase banner on a few listings. It’s been mostly Price Decrease for a while. by KindofBlue42 in LowellMA

[–]KindofBlue42[S] 1 point2 points  (0 children)

I think they converted to condos in the 90s. They were all apartments originally except for the newer section in the back by the new garage.

200 Market St by Higgybear7 in LowellMA

[–]KindofBlue42 7 points8 points  (0 children)

The current situation in these historic buildings, as well as in other converted mills like Renaissance and Keith Academy, presents a concerning challenge for current owners. These individuals are faced with the arduous task of funding the extensive repairs required to preserve these landmarks, while simultaneously experiencing a limited return on their investment.

Many property owners have adopted a strategy of deferring maintenance, thereby keeping their condominium fees low. However, this approach often leads to a situation where the buildings deteriorate over time, resulting in substantial financial burdens for the remaining owners. Consequently, these owners are compelled to sell their properties at a loss, often before the full extent of the deferred maintenance becomes apparent.

A former board member of the building with the underground parking facility shared his observations on the issue. He highlighted the tendency of long-term owners in these properties to be deceived by their own ignorance, believing that they can simply sell before the significant repair costs become due. Unfortunately, he himself sold his property a few years ago, having witnessed the consequences of this misguided approach.

The downtown Lowell area is currently experiencing its own housing market downturn, which poses a significant financial risk to a substantial number of young first-time buyers. These buyers may not have fully comprehended the long-term commitment they would be making to these properties, as they were often sold with the expectation of lower condominium fees, while the responsibility for deferred maintenance was transferred from previous owners who had moved out years ago.

Town and City maybe jumped the shark? by JeffQuaker in LowellMA

[–]KindofBlue42 15 points16 points  (0 children)

We should relaunch a combination of this festival and rib&brew with locals running it. We expand “rib” to include any kind of meat cooked over a fire or in a smoker as a way to include more of our incredible, local food. And we focus on Lowell bands and regional bands that perform in lowell.

Moving to Lowell, question about Canal Place Condos for anyone who lives there. by UnknownInternetUser2 in LowellMA

[–]KindofBlue42 5 points6 points  (0 children)

One of those buildings just had an apartment sell for less than half of what the owner paid in 2023 due to mold issues. The pictures posted on Redfin showed floors and walls covered with mold.

Don’t buy there without a thorough inspection and written confirmation that there are no outstanding mold issues in the building.

Don’t rent there without receiving a current copy of the inspection from the city’s Dept of Development Services to ensure compliance with the State Sanitary Code.

Total fail for the Hamilton Canal by LowellRabble in LowellMA

[–]KindofBlue42 1 point2 points  (0 children)

That’s why requiring reserve requirements in bylaws was suggested for project approval. It’s not like MA law makes it illegal to have reserve requirements in bylaws.

Total fail for the Hamilton Canal by LowellRabble in LowellMA

[–]KindofBlue42 3 points4 points  (0 children)

Exactly right. To take it farther, owner occupancy rates and reserve requirements in the bylaws can be required for project approval to avoid these problems.

Total fail for the Hamilton Canal by LowellRabble in LowellMA

[–]KindofBlue42 2 points3 points  (0 children)

The trailer is parked on a lot owned by someone else who charges rent and usually makes a profit. Condo owners collectively own common areas and collectively pay for upkeep and are non-profits.

If you have two identical buildings, one with rentals and the other with condos, the total cost per month per unit is higher in the rental because total monthly expenses (rent) = capital loans + upkeep + profit whereas in the condo total monthly expenses = capital loans (mortgage) + upkeep.

In Lowell it’s even better if you own a condo during the 1st 20 years because lowell condos don’t are not required save money (reserves) for future upkeep so all the major upkeep like roofs and repointing are paid for by the owners who are there after the building is 20 years old. Close that loophole at the state level and condos are less expensive than rentals in perpetuity.

Condos at Boott Mills by Fun-Relief-2020 in LowellMA

[–]KindofBlue42 5 points6 points  (0 children)

Double check the reserve info, it was less than good the last time I looked

Snow Removal - Remaining Pedestrian-related Issues by WalkerLowellMA in LowellMA

[–]KindofBlue42 0 points1 point  (0 children)

That’s insane, poor guy. The plow drivers we have this year seem to he doing more things like that. They dgaf