Frequently Asked Questions for the Condo/Lofts at Milepost 5
I’ve never bought a home before. What should I know?
Buying a home is an exciting, scary, thrilling process. We’re committed to helping you every step along the way! For a breakdown of the process, take a look at the Steps to Purchase.
Can more than one person live in a unit?
Of course!
Can I have pets?
Yes! While residents through the condominium association will craft a detailed pet policy, the usual pets are definitely allowed.
Can my band practice in my unit? Can I solder?
It depends. In accordance with building and safety laws, as well as condominium association bylaws, there may be limitations on what a resident may produce in their unit. Just like any community, Milepost 5 residents will work together to determine what kinds of things those are.
Can children live at Milepost 5?
Of course! Milepost 5 welcomes all kinds of households.
Is there public transportation/transit access nearby?
There is a lot! The site is directly served by Trimet Bus #72, a frequent service bus. Just blocks away is MAX Blue & Red Lines, as well as stops for buses #19, #20, #15 and #77.
Is there bike parking?
Yes! There is ample outdoor bike parking.
Is there a Zipcar?
Yes! There is a Zipcar in the off-street parking lot. For more info about Zipcar, visit www.Zipcar.com.
If I have a car, where can I park?
There are 50 parking spaces in front of the building in an off-street lot. They are available to rent for $35/month. On-street parking is available around the site at no charge, however, these spaces will likely be in high demand as Milepost 5 and the neighborhood grows.
Is there storage?
Yes, each unit comes with a gated storage unit (approx. 6’ x 8’) in basement. There are a few extra storage units as well as double-sized storage units available for purchase. Please indicate on your non-binding reservation if you are interested in additional storage.
What about laundry?
Top floor units have laundry hook-ups in their unit. To maximize living area, there are laundry facilities located in the basement.
So, what’s happening with the building next door?
Glad you asked. The building next door is a historic gem built in phases between 1928 and 1956 that we will restore. We have a lot of ideas about what eventually next door will look like. The main spaces we intend to provide are a gallery/exhibition space, performance space, café/restaurant, studios and rental live spaces. Our hope is that the residents will be part of shaping what the building looks like and offers. More details here.
What is this limited equity / Pay It Forward thing about?
Only units priced under $105,000 qualify for the Pay it Forward program. We’ve all seen what the real estate market in Portland can do. So, to keep some units affordable for the next artists, buyers of Pay it Forward units receive a $2,500 grant towards closing costs. Upon resale, these units may be sold for up to 2x CPI (Consumer Price Index) or fair-market value- whichever is less. Adjustments for improvements may be included in the resale price. CPI typically is 2.5-3% per year. Also included in the resale of the condo are any permanent improvements that you do to the condo during your occupancy.
We hope that Milepost 5 will always offer a place for artists to own an affordable space for as long as they’d like to, and experience the benefits of ownership: no rising rents, no forced relocations, tax benefits, freedom to remodel, equity, etc. We also want to pass that opportunity on to future artists.
Who should I contact for more lender information?
Contact Shawn Baeschlin of NW Mortgage Group at 503-528-9800.
What kind of entry system will the condos have?
We have a call box with individual codes that allow entry. For visitors, the call box dials your phone line and you can buzz them in.
How secure are the first floor condos?
They have a lockable patio door.
Can people open their windows – is it crank or slide or none?
Everyone has at least one operable crank-style window – awning style or casement – depending on the floor.
Is there a natural gas line so that I can put a gas range in my kitchen?
No. Natural gas is not available.
How big is the elevator and what kind of a load can it take?
It is a 3000 lbs car that has a 9’ high cab inside – which helps greatly with large pieces of furniture and/ or sheets of plywood for art projects, etc.
How much insulation is between the walls and ceilings/floors?
We are meeting/ or exceeding code requirements which are 50 STC (sound transmission class).
How quiet is the elevator?
Pretty quiet. We furred out and insulated around the shaft at the living units to reduce the noise.
Will there be dividers of some sort on the E side 1st floor patio area – or is it common?
We aren’t planning on building dividers, but that option would exist for owners to construct.
What kind of doors are going on the 1st floor for that patio access?
Like the fourth floor, glass and aluminum terrace doors.
Are you supplying window blinds?
No.
Is it going to be a great place to live?
 Absolutely.
More quesions? Contact Claire Paris:
Claire Paris ASR, GRI
Broker
Paris Group Realty LLC
ph: 503-998-4878
fx: 503-335-7755
claireparis@comcast.net
