I've never bought a home before. What should I know?

The process isn’t that hard, even in difficult economic times. We are committed to helping you every step along the way! For a breakdown of the process, take a look at the Steps to Purchase.

Until Dec 1, 2009: Milepost 5 is offering a stimulus package worth $16,000 towards a first home purchase.Can more than one person live in a unit?

Yes.

Can I have pets?

Yes. While residents through the condominium association will craft a detailed pet policy, the usual pets are 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?

Yes. Milepost 5 welcomes all kinds of households.

Is there public transportation/transit access nearby?

Yes. Lots. 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 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.

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 let us know if you are interested in additional storage.

What about laundry?

To maximize living area, there are laundry facilities located in the basement. Top floor units come with washer and dryer.

What is happening with the building next door?

Phase 2, The Studios, is going to be a huge part of the Milepost 5 community experience. This historic gem, built in phases between 1928 and 1956, contains an existing restaurant facility with an amazing kitchen, 2500 square foot dining area, and outdoor seating – as well as an existing 120 seat performance space in the building’s “Old Chapel.” Redevelopment plans include up to 102 work and live/work rental spaces, community and commercial spaces, and a gallery in addition to the restaurant and performance venues.

What is this limited equity / Pay It Forward thing about?

Only units priced at $99,995 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.

Pay It Forward is offered because we hope that Milepost 5 will always offer a place for artists to own an affordable space and experience the benefits of ownership: no rising rents, no forced relocations, tax benefits, freedom to remodel, equity, etc. We want to pass that opportunity on to future Milepost 5 residents as well.Who should I contact for more lender information?

Contact Claire Paris at 503-998-4878 to find out our favored lender.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 brand new 3000 lbs car that has a 9' high cab inside which helps greatly with large pieces of furniture, oversized art, raw materials, etc.

How much insulation is between the walls and ceilings/floors?

Milepost 5, The Lofts meets or exceeds code requirements which are 50 STC (sound transmission class).

How quiet is the elevator?

Pretty quiet. The shaft is "furred out" and extra-insulated by the living units to reduce the noise.Are you supplying window blinds?

No.

More quesions? Contact Gavin Shettler at 503-729-3223 or gavni@milepostfive.com