U.C. condos officially on the market

University of Charleston officials hope that if people are considering moving South upon retirement it will be to South Ruffner.

On Monday, the University of Charleston officially made available to the public the opportunity to live in one if its proposed luxury condominiums along the Kanawha River. About 40 people gathered in the Erma Byrd Art Gallery in Riggleman Hall to get more details on the condos including amenities, cost and projected move-in date.

Though it has cleared all legal and regulatory hurdles, ground has not yet been broken on the condominium project. In the course of her presentation on the project, Vice President for Administration and Finance Cleta Mae Harless said plans to begin construction no later than January 1, 2009.

However, Harless said construction on the proposed 16-unit complex is conditional on two things. First, getting commitments from at least 14 individuals or couples to buy a unit who will, second, put 10 percent down on the purchase price.

“We need 14-10 percent people to make this project go,” Harless said.
Currently, Harlesss said plans are to build one six-story complex along 19th Street and Kanawha Avenue behind Triana Field. Should an additional 14 people come along and put 10 percent down, then an additional complex will be built.

In the event that UC doesn’t receive the necessary commitments and cash by the Jan. 1 deadline, Harless said the project is likely to be cancelled, and refunds to those who did make a commitment will be issued. However, she said despite current economic conditions, including the possibility of a recession, U.C. is confident 1900 Kanawha Ave., the address for the condo project, will become a reality.

“We’re going to aggressively pursue this,” Harless said. “Who knows what tomorrow brings.”

Just like home

So, what would potential residents receive in the unit? Well, “all the comforts of home,” and then some, Harless said.

Though there are different size units ranging from 2,100 to 3,200 square feet, all have gas heat, phone and cable service, 10-foot ceilings with both a hillside and river view. Also, while many of the fixtures are standard in each unit, Harless said a resident can have them upgraded.

“I told someone if you want diamonds in your countertop, you can have diamonds in your countertop,” Harless said. “It’s just going to cost you a little extra.”

Among the amenities common to the complex will be controlled entry, an underground parking area, first floor trash chute and upper level exercise and activity room.

The price of completed units range from $770,000 to $1.3 million, Harless said. The price does not include a contractual $75,000 donation a resident would have to make to UC during the life of his or her agreement, and annual association dues.

According to Harless, the U.C. Condominium Association would be a separate and distinct organization from the university.

Though anyone with the right amount of money can purchase a unit, both Harless and U.C. President Ed Welch said the project was created with retirees or high-income professionals who wanted to downgrade from a home in mind. In fact, Welch said it was those very people who several years ago approached U.C. about the possibility of developing a condominium project.

For those on the cusp of retirement, provisions are available for unit owners to rent it out to someone for a 12-month period up to a total of 36 months. The reason for the limitations, Harless said, is so that what was designed to be a “permanent facility” does not turn into a “transient community.”

Depending upon when ground is broken, Harless, in conferring with the project’s general contraction, BBL Carleton, said residents could move in about a year later. If ground is broken during the winter months, the move-in date could be pushed back as much as six months.

The Clay Center v. Florida

One couple eager to move in is Russ and Virginia Keys of Charleston. The retired business executive and state employee who live on Edgewood Drive are one of the seven people who’ve already made a commitment, and put money down on a unit.

The Keys’ epitomize UC’s intent for the condo project as Russ said he and Virginia were “just looking for something simple to get away from the upkeep of a home.”

Likewise, Virginia said while popular destinations live Florida do offer warmer weather during the winter, having a retirement “home” there would just be more hassle. Besides, migrating South would mean missing out on all the featured events at the Clay Center.

“What’s the point in going to Florida when the Clay Center’s season is September through May,” she said.

Photo: U.C. Vice President for Admininstration and Finance Cleta Mae Harless, explains some of the features available in the university's proposed condominum project during an open house Monday at the Erma Byrd Art Galley in Riggleman Hall. U.C. officials hope to break gound on the 16-unit complex by January