PJB

"My understanding is that there are meters that can be installed directly on the pipes to track water usage, complete with RFID signals so that meter reading is easy and unintrusive." Thanks, I've seen one monitoring system for the sprinkler system but hadn't heard they might be able to do this; will definitely check into it.

Submetering would require a near complete replumbing of the property because the lines were run like an apartment, multiple drops to each unit that are shared by at least two and usually at least four units. We're looking at the retrofitting option now and have been for a couple of years. It isn't looking good. To do this, we'll have to raise fees so much that the property values will fall. We'd have to get super approval for a special assessment (or change the bylaws, which are generally awful anyway) and I'm guessing about half of our owners couldn't pay one, even if it were in installments. On those psf figures you quoted, are those land sf or condo sf? Really appreciate your willingness to share info. We'll all feel better whatever decision we come to if it's based on facts. (We're one of the oldest complexes in the area. I suspect the others will be facing the same issues over the next 5-10 years if they don't start getting information and taking some corrective actions now but I'd also guess it's impossible to get their attention until there's some kind of implosion.)

Thanks for the input. We know this would be a HUGE project and not something that wouldn't happen soon so we're not concerned about the "current" economic issues and know that, if those don't improve, this isn't do-able. We know our residents/owners pretty well. We think we might have a better chance at this than selling outright. There are probably more who would hold out because they're so attached to the general location (and tank that deal) than who would balk at a total redevelopment. The association and current members aren't looking to make a profit but to get into a new unit (that doesn't have the kind of original design defects common in the ones built 25-30 years ago). We just started an ad hoc committee to look into this. Your comments will be very helpful. We know that the association would most certainly need to authorize someone to bind it rather than others having to deal with the typical (flaky) condo board/association process. If you have any more suggestions, comments, advice, we would certainly welcome them. Niche, you "guessed" pretty good! We know about some of the issues you raised all too well but we've spent a long time educating around here and there's pretty much no good news for these older complexes: poor design, poor building, deferred maintenance, lousy condo management companies who give really poor advice to lay board members... = functionally obsolete. We may be crazy to look into this but it feels better than sitting by and watching the place decline. You are absolutely correct that a circus of paranoia is the fastest way to get quorum. Getting one to do business based on reality and facts is MUCH more difficult but we're getting better at it. Your accuracy makes me wonder which complex you're in but I won't ask.

If a condo association near the medical center wanted to redevelop itself, is that feasible? 30 year old complex but the buildings are shot, not worth bringing up to speed. Owners love the location but understand the financial constraints. 8+ acres of land but could easily have 3X as many condos as currently exist. Is it at all feasible for the owners to work with a developer to level and rebuild with many more units?