ClintD

I went through an open house at Franklin Lofts last year and the woman who was showing us around said that there were 11 or 12 years left on the historic tax exemption. I figure that 10-11 years of not paying $6,000+ a year sounds good. I also looked up who the owners of the units are and it looks like Franklin Limited Partners own about 10-12 units. What I'm wondering is if they go under, what would that potentially mean for me?

Hi All, I'm new to the forum and was just looking for insight on Franklin Lofts. I've been through one of their open-house events and was pretty impressed overall. The building is beautiful and has a lot of pros in my mind. I'm considering trying to buy there but just wanted some feedback before I start making any serious decisions. This is what I've come up with so far: Edit: The building was originally the First National Bank at 201 Main Street. Pros: 1.) Location 2.) (Relatively) Low HOA fees 3.) Historic tax exemption 4.) Spacious floorplans/hardwood floors 5.) Parking, etc. Cons: 1.) Good Value?? 2.) Cheap looking cabinets, kitchen area I keep finding myself going back and forth so any opionions or comments would be greatly appreciated. Thanks!

Hi, I'm a newb here and I just wanted to add a comment about Waterhill. The people in the office are very nice and polite but the townhouse I am living in right now is pure garbage. Everything was just slapped together and the fit/finish just isn't there. My roomates and I were the first tennants in the townhouses near Rusk @ Dowling and I had to fight with the Waterhill for a couple of weeks to get them to put a mirror in my bathroom. They kept arguing with me that the plans for the townhouse didn't call for a mirror in my bathroom. It's a 3 BR/3.5 Bath townhouse and it just seems logical to me to have a mirror in every bathroom. I finally got my mirror but we still don't have one in the half bath. By far the worst thing of all is the cooling. The air conditioner blows all day and night and we can't ever seem to get the thermostat in the living room/kitchen on the 2nd floor to read below 78 degrees. We've played with all the vents trying to force more room into the area where we spend the most time with no luck. Most all of the cool air from the air conditioner goes to the 1st and 3rd floors so it will be 58-59 in our bedrooms and 78-80+ in the living room. We've had an AC guy out twice with no improvement. This has resulted in $450-$500+ electric bills last summer on top of the $2,000 we're paying for rent. The first month we were in the townhouse we had someone out almost every day putting the finishing touches on the place. It's livable now but I still think we're paying too much for rent. I've been in a couple of neighbor's townhomes and they've complained about similar problems. Bottom line is that from what I've seen, Waterhill builds crap!