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Downtown HOAs: A Primer

The Downtown News checks in with area HOA fees: At the Eastern Columbia, a 1,200-square-foot unit requires $525 in fees, while you'll cough up anywhere from $600-$850 if you live at Elleven (for units starting at 800 square feet) and yes, that's the lobby pictured above. And residents pay anywhere from $500-$1,200 a month for living at fancy-pants 1100 Wilshire. The paper outlines all the reasons why fees are what they are, what's done with the money, and cites the ol' bait and switch tactic. "The developer may offer low HOAs to attract buyers, but once they're in, they say, 'Geez, we didn't know how much security costs, and we need to start paying for it,'" Pat Springer, the former HOA president at Promenade West on Bunker Hill, tells the publication.
· Luxury, With a Price [Downtown News]