We’ve gotten a few calls and emails asking about the financial strength and fees for the homeowners association at One Lexington. We like people who ask this question as it is very important, especially with the many developments around the Valley whose HOA’s are in trouble.
We asked Rob McDonald, the president of McDonald Development, to give us some details about the HOA’s at One Lexington during a presentation last week. He indicated the overall HOA fees are 41 cents/sq.ft. Of the 41 cents, 9 of it goes to support their capital improvement fund used to maintain the integrity of the property. The balance of the fee is used to pay for general maintenance, pool/exercise facilities, grounds keeping, HVAC operations and staff. Homeowners will pay, privately, for electric, water, phone and cable/high speed Internet.
One Lexington offers daytime concierge services Tuesday through Saturday and nighttime security Friday through Sunday. These services are included in the HOA fee. Building security is enhanced by key fob operated elevators.
Another important consideration is the central heating and AC system. The operation of the main HVAC system is part of the HOA fees. Each homeowner will, however, pay for the electricity to power the individual condenser/blower units found in each condo. Overall, heating and cooling costs are expected to be much lower than if the units had individual AC systems.
McDonald assured everyone that the HOA is well funded and in great shape to move forward to a safe and happy future.
If you have additional questions about One Lexington or would like to make an appointment to view the property, use the form below and we’ll take good care of you.
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Other Articles about One Lexington
https://urbanconnectionrealty.com/2010/04/one-lexington-has-affordable-one-bedroom-condos/
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