The Saint Paul Condo Blog

I've got a 4 tickets to any Saint Paul Saints game between now and the end of July to the person who wants them the most.  Just post your reason why you should have them in the comments section on this post, and I will select a winner by the end of the week.

I would normally use the tickets myself, but I am jam packed this month so there was a really good chance these tickets would go to waste.

In an update to a story I broke back in April, Cray supercomputers will soon be moving into the freshly renamed Cray Plaza (formerly Galtier Plaza).  Hopefully this brings some other tech giants to come relocate to Lowertown.

I bet Weiming Lu is proud to see his Cyber Village concept being born again!

Thanks Dennis for the tip!

Rendering courtesy of Brian Gorecki - Real Estate Consultants LLC

The Penfield folks had an open house to comment on the new development last night and it looks like things are still moving forward.  The Hyatt Hotel that was once rumored to be part of the development has fallen out, but Lund's is still hanging in there (Yeah!).  The open house was specifically to get comments on the reuse of the old Public Safety Building.  Since the project is seeking Federal loan backing through HUD, HUD wants to make sure the public at large is OK with a majority of the old building being demolished and just the facade remaining.

I for one an completely happy with just keeping the facade, however I would have liked to see the facade along Minnesota extend beyond the one "bay" as they have it now, but I don't want that to stand in the way of getting a grocery store in downtown.  If the Penfield doesn't happen, either does Lund's as the two projects are intertwined as one.

If you want to see that this project happens, make sure to send in your comments supporting the proposed new use of the public safety building to the contact listed below by July 20th.  We don't have much time and we need to get as many positive comments as possible to get the approval!

Rachel Coleman
Project Manager
U.S. Department of Housing & Urban Development
920 2nd Avenue South, Suite 1300
Minneapolis, MN  55402
Rachel.L.Coleman@hud.gov

As a side note, as you can tell from the rendering, the Penfield itself is not nearly as grand as the condo tower that was once proposed.  As it sits, it will house about 216 market rate apartments from $900 to $2100 a month.  The tower is about 10 stories tall, which should be just shy of reaching the height of the DHS building across the street.

After getting many requests over the years, we have started a new division of our company.  We now handle all aspects of turning a condo or a loft into a rental property.  If you are looking to rent your place, all you have to do is give us a call. All aspects of managing your property will be handled, whether its hiring contractors, finding tenants, or collecting rent.

All you have to do is sit back and relax.  If you are interested in this new service, send us a message at rent@stphr.com or call us at 651-808-4393.

I always love it when my name shows up quoted in the paper, today was especially sweet as my name was mentioned 5 times in the article.  I know it's gloating to bring it up in the blog but I couldn't help myself ;)

http://www.twincities.com/ci_12829995 

I was told over the weekend that either a malfunction or a fire happened in a 4th floor unit over at Printers Row.  The sprinklers went off and flooded the unit to the point where water was gushing out the window.  As any time there is a water issue in a condo building, the water takes the path of least resistance, so it spreads out and down.  Not sure how many units were affected, but I'm sure it was a mess.

This brings up a good point about insurance that I can never talk about enough.  As a condo owner, in most buildings Hazard Insurance is covered as part of the association dues.  Even lenders won't require you to get an insurance policy.  Most HOA's do highly recommend personal coverage (referred to as a HO6 policy).  Being that it's optional insurance, some buyers will overlook this policy.  This is the biggest mistake a first time buyer can make.  One of the items buried in the mass of paperwork that comes with the governing documents is a stipulation that if an owner causes damage to the building, the owner is required to pay the association's deductible.  Usually anywhere from $5,000 to $10,000.  One of the options of a HO6 policy is deductible coverage.  Which makes this inexpensive insurance worth 10x it's weight in gold.

If you set a low deductible for your personal HO6 policy ($250-$500), it shouldn't greatly increase your premium.  As an example, I have my policy set to cover my personal belongings and coverage for a $10,000 deductible costs me around $175 a year.

That additional $14.50 a month will save me if a sprinkler head went off or any other damage to the building (say driving a U-Haul into a main electrical bus - long story and no it wasn't me).

If you are unsure about your policy, call your insurance agent and check to see if your policy has deductible coverage.

The fancy, grown up circus that is Cirque Du Soleil - Kooza has added extra shows to accommodate more people.  The weird part about that is They've canceled a few shows and I hear that the crowds are not sell outs.  Not sure what to think of that, other than some of the shows are at odd times for people trying to make it to Saint Paul.

I will say though, it's neat to see Lowertown hopping this summer!

Yesterday it started with lane closures, today is full blown work.  The city is prepping themselves for the eventual light rail that will be snaking its way into Lowertown.  So the city is tearing up the streets and moving utility lines so when they lay the track, it all goes smoothly.

Here's to 5 years of continual construction!

Congratulations to Dan, the winner of the Saints Tickets.  Dan just get in touch with me to claim your prize.  :)

Wow, does 233 years fly by!  As you celebrate the 4th of July with your friends and family, take some time to remember the sacrifices people of this country have made to get us here today.

On a lighter note, if you are looking for something to do, the Taste of Minnesota has reinvented itself this year with a really good lineup of music and more local food options.  The Taste of MN opens at Noon Friday, Saturday, and Sunday.  If you get there before 3pm, you get in absolutely free (after 3pm, there's a $10 charge to get in, but you get $10 in food vouchers).

Stay safe and have fun this weekend!

Want to see the behind the scenes shot?