Important Considerations for Potential New Owners or Tenants
All 86 units in the Irving Street Lofts (ISL), including the two commercial units on the first floor, are privately owned. ISL's home owners association (HOA) or its property management company (CA Partners) are not directly involved in any unit sale or lease agreement.
For those considering the purchase of a condominium, it is important to understand the contents of the association's bylaws and rules. In the case of Irving Street Lofts, there are three important restrictions which have caused problems in the past.
Bylaw Article 7.5 (d) prohibits pets over 15 pounds. Note that twice in the past, some owners attempted to change this bylaw requirement without success.
Declaration Article 10.1 specifies "Other than the two commercial units, the loft units shall be used for residential purposes or for office, professional, or studio purposes. Such units may be used for retail purposes only on a by-appointment-only basis. No uses shall be permitted that generate noise such as to disturb units for residential purposes."
Bylaw Article 7.5 (g) specifies, among other requirements, that no more than 30% of building's condominiums (86 total) be leased at any given time. If a potential purchaser plans to lease the unit, it is critical to contact ISL management to check the present percentage (historically, it has been running at or close to the limit).
Please also review the material under the Residents tab on this site, which contains lots of information on living and working at ISL.