Parc Lafayette Condominiums

[kuuma]

Hii, bringing this thread back from the dead to follow up. I just bought a unit in Parc Lafayette in the fall, after researching the place online [[including this thread, thank you all!) and visiting/inspecting. It's a duplex unit similar to the floor plan posted here with the underground garage opening directly into the unit. The common elements are certainly in need of rehab, both guts and landscaping. But for a condo this size, this easily walkable/bikeable to downtown, inside an absolute modernist gem... there's nothing close to the price point for all it offers after watching the market for a year.

It is definitely the fixer-upper of Lafayette Park, but there are some perks: the Mies houses' landscaping and gardens blow us away, but they're still scraping ice off their cars all winter

There is new management as of a few years ago who seems to be well aware of the scope of the work it needs. From what I understand there are quite a few units held by owners who are using some kind of bankruptcy loophole to avoid paying their HoAs, which is causing the community to be underfunded for the necessary rehab work that needs to be done. Increased occupancy should help, and there is pressure on the non-HoA-payers. With that we should be able to raise the revenue needed to get the hard work done. I feel like I see a new Uhaul moving furniture in every other weekend, and many units are actively being renovated, so signs point to positive momentum.

The location I think has mega potential – with huge developments flanking 3 sides [[huge Eastern Market expansion to the north, Riverfront development to the south, I-375 removal and downtown & EM grid reconnection to the west) this place will be surrounded by fresh infrastructure soon. Unless all 3 of these major city works fall through [[knock knock), I don't see how this place doesn't become more and more of a hang in the next 5-10.

Anyway I know this thread is kinda ancient but thanks for all the digging yall have done, this thread was valuable during the house hunt.