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LAND LEASE
The ArtYard is subject to a Land Lease with the City through the Santa Fe Railyard Community Corporation. As part of your due diligence, you will recieve a copy of this Lease once your offer has been accepted and converted toa "reservation".
The Land Lease will become a part of the Association Dues andis currently estimated to be
$0.14 per foot per month in the first year, or $140 per month for a 1,000 sf unit.
ESTIMATED ASSOCIATION DUES AND LEASE PAYMENTS |
Parkside Residential Association |
Unit |
SF |
|
Annual Dues |
Monthly |
3201 |
1580 |
|
$5,777.91 |
$481.49 |
3202 |
1522.05 |
|
$5,566.00 |
$463.83 |
3203 |
1155.05 |
|
$4,223.91 |
$351.99 |
3204 |
1564.03 |
|
$5,719.51 |
$476.63 |
3205 |
1040.81 |
|
$3,806.15 |
$317.18 |
3206 |
1564.08 |
|
$5,719.70 |
$476.64 |
3207 |
1155.05 |
|
$4,223.91 |
$351.99 |
3208 |
1580 |
|
$5,777.91 |
$481.49 |
3209 |
1522.05 |
|
$5,566.00 |
$463.83 |
|
|
|
|
|
All numbers are estimates and subject to change |
THE ASSOCIATION
The ArtYard will be made up of five associations and one master association. The Parkside and Trackside buildings each have two associations, one for the commercial usageon the ground level and one for the residential (Live/Work) spaces on the second level.
The initial budget for both associations at Parkside are $0.16 per foot per month, or $160.00 per unit for a 1,000 sf space. Operating and capital reserves will be funded by the buyers when they close on individual units |
