im going to be relocating to cleveland w/my boyfriend in early '07. we're probably going to rent for a couple of months while we house hunt. so in the interim we're looking to live in a great building with loft-style apartments that have nice views, near public transportation, for under $800/mo.

i've checked out the websites of buildings like: tower press, merrell, federal knitting mills. how are these and are there others you can recommend?

also, is it common to not to have to sign a year-lease? we would like to do month-to-month.

thank you!

are you looking east/west/downtown?  do you have a work location you want to be near?

 

800/month is certainly doable, but what do you expect for this price?  2 bedrooms? parking?  utilities?

 

from my experience, 1/2 of buildings are looking for minimum 1 year to start, and the other 1/2 will do 6 months or month-to-month, but at a slight premium. 

You might want to check out the Statler Arms -- (216) 696-6800. I've been here over a year and am really happy with it. Located at East 12th and Euclid it's only a 10 min walk to Public Square & Tower City. Although I don't think it has any "loft style" apartments, they do have furnished suites that can be rented for shorter terms like what you're looking for. It's got a nice classic hotel-like atmosphere (if that's your thing), a restaurant in the lobby (although it's not open every evening), an attached garage, 24x7 security and is very quiet. And no, I am not employed by the building  :-D

Jax you have a really nice building.  I went to a party at a unit with this amazing balcony.  This building should be a condo building, some of those units are huge.  What happened to the website?

 

Littlecloudyskye, buying a home is the one sure way to get out of a lease.  If you sign a one year lease, then find a house to purchase before your lease is up, you will not be bound by the lease due to your intent to purchase.  You should see something to that affect that in your rental lease.  A landlord cannot should not penalize you for purchasing a home.

^^

 

Thanks! The website was great but supposedly wasn't transfered over during the sale of the building recently to the new owners (according to one of the building managers when I asked about it last week during the holiday bash). It wasn't clear to me if it was an act of omission or commission, but either way is pretty lame..

 

I agree it should be condos, and I think it probably will go that way whenever the grace period is over that I think I read about on here somewhere.. 15 years rental only for guaranteed development funds of some sort? I don't remember exactly.

They almost certainly got a 15-year 100% tax abatement for renovating the building. But couldn't they have gotten the same abatement for renovating it with for-sale units?

They almost certainly got a 15-year 100% tax abatement for renovating the building. But couldn't they have gotten the same abatement for renovating it with for-sale units?

 

i think the restrictions are on the financing mechanism from HUD used to finance the rehab, not an abatement.  the financing requires a certain period of moderate income rental housing and rental housing.

 

it is either through sec 207, or 221.  i can't find the documentation now, but here is the overview:

http://www.hud.gov/offices/hsg/mfh/progdesc/rentcoophsg221d3n4.cfm

 

i'm not sure if it can be paid off early or if the entire period must run. there were also probably city of cleveland incentives, but i don't think these are preventing a condo conversion.