The Montage is hot topic with many readers of this blog, so I thought I’d pass along a link to a story on the front page of this morning’s RGJ. Fernando Leal, managing partner and chief executive officer of Montage developer L3 Development, was interviewed extensively in the article.
Some points made in the article:
- 142 of the 377 units are under contract
- Leal’s hope is to have 40% – 60% of the contracts closed in the next 90 days
- Residents HOA fees will be about $0.41 per square foot
- Corus Bank is creating a fund to provide 12 months of HOA fees to cover unsold units
- Leal said The Montage will not become rental property.