Author: Horton Group

Condo Associations: What do they do?

66 High Street

Living in a condominium can be filled with perks, including the use of a fitness room or pool, lawn maintenance, and snow removal. In order to keep common areas maintained and unit owners happy, Condo Associations set rules, regulations, and fees for condominium and townhouse owners. The Condo Association’s board of directors, voted in by unit owners, oversees this work and handles disputes that may arise.

Condo Association Fees

In addition to paying a mortgage, unit owners pay condo association fees or dues. The board of directors determines how much members pay for the upkeep of the association. Fees can vary greatly depending on what amenities are available to unit owners. Condo association fees are used for the general upkeep of the property, such as landscaping, as well as repairs for common areas, such as new roofing.

Common Areas

Common Areas in condominium associations can include parking areas, sidewalks, lobbies, hallways, lawns, fitness rooms, pools, and recreational areas. These areas are for the use of all unit owners. Maintenance and repairs in common areas are paid from Condo Association dues. Condo Associations also have their own insurance policy for common areas. To learn more about what may be covered by your association vs. what your personal unit policy should cover, head to Allstate’s article on the topic.

Rules and Disputes

Condo Associations do not just pay for the upkeep of common areas, they also work to build an enjoyable living community for all members. This requires rules and regulations for unit owners. These rules can cover broader topics such as pet and noise regulations, down to color options for your front door. When disputes arise between members or rules are not followed, the board of directors is in charge of settling these cases, whether it is through warning letters, fines, or other means.

Condo associations can be very beneficial for members, but only if it’s regulations, fees, and perks are fitting with your lifestyle. Learn as much as you can about the association before buying a new unit. Laws for condo living vary state to state, so also look into State Condo Laws.

 

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Custom Kitchens: Know the Process

66 High Street Custom Kitchen

Creating a custom kitchen can be an exciting and overwhelming task. Depending on who you work with, the process and timeline will vary, but each phase is an important step in getting the kitchen of your dreams.

  • Choose who to work with. In this preliminary phase, it is important to find a designer or contractor who you trust and understands your vision. Most will complete this phase at no cost or obligation. Be sure to:
    • Ask to see past projects to get a feel of the designer or contractor’s work.
    • Give your budget and explain your non-negotiables in regards to amenities, products, and style.
    • Discuss the timeline. How long will your project take?
    • Review preliminary ideas, styles, and designs with the contractor or designer.
    • Get an estimate of the work to be done.

At Horton Group, we choose to work with Bender, for their award-winning work and unbeatable customer service.

  • Design. Once you have chosen who to work with, the fun part of design begins. This is when you will place your first deposit and meet to develop the following:
    • Layout and floor plan for the kitchen and cabinets.
    • Selection of material and hardware for cabinets.
    • Selection of tile, appliances, countertops and plumbing fixtures.
  • Manufacturing. Depending on what you are getting, this phase can take weeks or even months. Remember that custom cabinetry is built to match your style, needs, and measurements of your space. Request updates throughout this process to put your mind at ease.
  • Installation. See your vision come to life! Contractors will generally begin by installing cabinetry, followed by countertops, plumbing, lighting, and tiling. Once installation is complete it is time to enjoy your custom kitchen!

Going custom is your chance to create the exact kitchen you want, so take your time, stick the decisions you know will work for you, and know that the wait for completion will be worth it!

 

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How to Downsize to a Condo

How to Downsize to a Condo

Follow these tips to get rid of unneeded possessions and make the most of your new space.

Downsizing can seem like a daunting task. Most people have a habit of collecting “stuff” throughout their lives – whether it is memorabilia, more furniture to fill a bigger home, or equipment for landscaping a yard. When the time comes to downsize or move into a condo, it can prove to be a difficult task, especially when emotions are involved. Here are some tips to help you through the process:

Start small

Choose a room you seldom use to begin. Start with the big pieces in the room, such as the furniture. Is there a specific spot for that couch in your new place? From there, move to other objects in the room. When was the last time you used it? If the answer is several months ago, it is time to let it go. From there, go to the next room. Before you know it, you will have cleared out many non-essential items from your home.

Start Selling

Selling your used items has never been easier. You no longer need to plan and hold a yard sale, hoping people show up. Simply take pictures, and upload with a short description to one of the apps below. Ebay and craigslist are still relevant, but here are some others that may be more convenient or get you more money:

Prioritize

If you know the layout of the condo you are moving into, measure the rooms and prioritize. What furniture is essential for the living room, bedroom, and dining area? If the furniture you own is too large, sell and look for something smaller. In the kitchen, separate your most used items from those you rarely (or never) use. You can also get rid of duplicate items as you go through your belongings.

Think Storage and Multipurpose

Storage is key for living in small spaces. At the Residences at 66 High Street, storage space is provided to residents to ease the transition from house to condo. If extra storage space is not an option, multipurpose furniture items are key. Ottomans with tops that lift can store extra items in the living area. Hanging shoe racks help to make the most of your closet space. Use the wall or ceiling for a rack to hang pots and pans in the kitchen. You’ll realize there are plenty of places to store items when you get creative.

Ask for help

When it comes to your most sentimental items, ask for help from somebody you trust, or hire a professional organizer. Create four piles: keep, sell, donate, or toss. As you go through your possessions, put each in a pile, and stick to your decisions! You can also consider taking a picture of meaningful memorabilia so you can look back at it without taking up any space.

If you are thinking of downsizing, you are not alone. This survey by Trulia shows that 60% of people who currently live in a home larger than 2,000 square feet want to downsize the next time they move. Tiny houses are also becoming more popular options for people who want to own an affordable home. Whatever the reason, downsizing your living space means downsizing your material possessions, leaving you with less clutter, less costs, and possibly a bit more peace of mind.

 

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Commercial vs. Residential Real Estate

Benefits and Risks of Investing in Commercial and Residential Real Estate

As real estate developers, we take into account differences with commercial and residential real estate when building or renovating. With 350 Goose Lane Office Park development, we work to develop commercial office space that can be built-to-suit, while incorporating top of the line features and plenty of green space. At The Residences at 66 High Street, we focus on luxurious amenities and convenience for residents. Differences between commercial and residential do not stop with the development – there is also a lot to consider as an investor. We outline some of the key benefits and risks below.

Commercial Properties – Potential Benefits & Risks

If you have the funding and experience, there are a handful of potential benefits to investing in a commercial property.

  • Longer leases, generally ranging between 3-10 years, provide more stable income.
  • Less maintenance for the owner, developer, or property manager, assuming net lease agreements are in place.
  • Strong returns in the form of income and capital growth.

Commercial real estate ventures also come with potential downsides. Because commercial properties are pricier than most residential properties, they often require higher start-up costs. Also, finding tenants for open space can be difficult, particularly in a poor economy.

Residential Properties – Potential Benefits & Risk

Whether flipping houses or investing in large multi-family properties, residential real estate can be a great investment medium for individuals from all income brackets. The potential benefits include:

  • Lower start-up costs, whether you are buying a one family or multi-family property.
  • Easier to finance, with mortgage options for every type of buyer.
  • Tenants found faster, compared to commercial tenants.

While one can flip a house and put it right back on the market, being an investor or landlord in a residential property requires a great deal of involvement. In regards to property management, residential buildings require far more active participation than commercial properties, as lease agreements tend to take responsibilities out of tenants’ hands.

Investing in real estate can be a great way to diversify your investments and can also be relatively risk-averse if you know what to expect. Before committing to a commercial or residential property, it is important to understand what is required and what suits you best.

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Flood Zones and FEMA Compliant Building

Overlooking the marsh and Long Island Sound, it should not come as a surprise that the property at The Residences at 66 High Street sits within a flood zone. But what does this mean and why is there no reason to worry?

As described by the Federal Emergency Management Agency (FEMA), flood zones vary based on location. At low elevation and in close proximity to the ocean, the site at 66 High Street lies in a Special Flood Hazard Area (SFHA). An SFHA is an area that can become flooded in the event of a 1-percent annual chance flood, also known as a base or 100-year flood. For more details about SFHAs, as well as moderate and minimal flood hazard areas, check out FEMA’s explanation.

See here how the property falls within the base flood zone. All structures comply with FEMA standards. Living spaces have been raised seventeen feet, seven feet above the 100-year floodplain. Raising the first floor of the Whitfield, Leete, and Chittenden buildings allowed us to conveniently place resident parking in the new buildings underground.

As a result of adapting to meet flood management regulations, flood insurance costs are a mere fraction of what they otherwise would have been. In addition to the security systems in place on site, the storm-resilient buildings at 66 High Street can provide residents with a furthered sense of security and peace of mind.

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What is a Build-to-Suit Property?

Are you looking for an office space or residence, but none seem just right? There is no need to compromise. Build-to-suit (BTS) developments offer extreme flexibility, as a given room or building can be shaped to meet the various wants and needs for you or your business.

Build-to-suit properties are most often commercial leases, but can also be found in residential developments. With BTS, the landlord or developer builds to a tenant’s specifications. During construction the tenant is allowed the freedom to dictate his or her future space, as long as changes do not interfere with the structural and mechanical systems. Buyers or tenants can make significant changes through the restructuring of walls, rooms, and closets. Decisions on aesthetics, including finishes, appliances, and color scheme, are also made during the BTS process.

At Horton Group, we aim to please by offering build-to-suit developments. If you’re looking for a commercial property that can be built to meet your company’s needs, check out 350 Goose Lane Office Park. Our luxury condominium units at The Residences at 66 High Street can also be altered to fit your family’s needs.

 

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What Does a Real Estate Developer Do? Why?

If you have seen Caddyshack, you may remember Al Czervik. An obnoxious man of ample wealth and few morals, Czervik threatens to buy Bushwood Country Club and convert the land into condominiums. His character and ambitions reinforce a stigma that clouds the way people think about real estate developers and development. While there are bad apples in every industry, few people truly understand what developers do and what their motives are.

What does a real estate developer do?

In short, real estate developers are individuals and companies that are responsible for taking a vision for a site and making it come to fruition. This is easier said than done. Bringing a building project to life involves a great deal of risk, time, patience, and collaboration. The overall process of development may look something like this:

  1. Purchase land or an existing property.
  2. Establish a building program and design.  First, establish a purpose for  the building. Should it be residential? Commercial? Then, collaborate with the architects, planners, engineers, surveyors, inspectors, etc. to establish a design.
  3. Obtain the necessary public approval and financing.
  4. Build.
  5. Rent, Lease or Sell.

What are a developer’s motives?

Al Czervik and unethical real estate developers in the news may lead people to believe that developers are money-hungry and heartless, but these ideas are ill-founded. It is true that if done correctly, real estate development can be highly profitable. However, in order to be successful in the industry, developers must understand that investing wholeheartedly in a project means also investing in future users and the surrounding community. Developers must be motivated by money, as they too need to make ends meet and turn a profit, but the best developers must be equally as motivated by making the world a better, more beautiful place.

At Horton Group, in the acquisition and development of a property, our vision extends beyond property lines. While we are invested in what we do, we are equally as invested in the people and communities we do it for.

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Why is Green Space in a Commercial Development Important?

Formerly home to a plant nursery and landscape design company, the 16-acre site of 350 Goose Lane Office Park provides an amazing opportunity to reap the rewards of abundant green space.

Green space is any area of trees, grass, or vegetation, and is especially beneficial in commercial developments. Actions as simple as strategically planting trees can have significant impacts. In urban areas, green rooftops are an option when landscaping space is not available.  According to a report by the Natural Resources Defense Council (NRDC), net benefits of green space include:

  • Higher property values, rental rates, and retail sales
  • Lower energy costs
  • Reduced flood damage and infrastructure costs
  • Improved health and job satisfaction for tenants and employees

In the case of a leased property, developers, landlords, tenants, and employees all benefit. Expense-related benefits are particularly advantageous for tenants in a commercial space like 350 Goose Lane, as the leases offered are triple net, meaning the tenant pays for real estate taxes, building insurance, and maintenance.

Developers must preserve and implement green space wherever and whenever the opportunity is afforded to ensure that a project is economically and environmentally sustainable for all parties involved.

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What is Type II-B Construction?

New construction, whether it is for a single family home, small business, or large complex, requires builders and companies to follow strict guidelines to ensure safety for all involved.

Every building is classified as a construction type based on the materials used to build and the fire resistance rating of the materials. The five main types of construction are outlined below:

  • Type I – Fire Resistive
  • Type II – Non-Combustible
  • Type III – Ordinary (Exterior Protected)
  • Type IV – Heavy Timber
  • Type V – Wood Frame

In our ongoing luxury project, The Residences at 66 High Street, we build to fit guidelines of Type II-B construction. Type II-B construction is an uncommon form of construction in Luxury Real Estate condominium developments such as this. The walls and roof are constructed from non-combustible materials, such as masonry, tilt slab, or metal. Weight bearers in Type II-B buildings are typically steel beams.

Type II-B construction is one of the reasons The Residences at 66 High Street has won the Home Builders and Remodelers Association of Connecticut’s distinguished HOBI Awards for:

  • BEST Condominium Community
  • BEST Luxury Condominium Unit
  • BEST Historic Rehab
  • 2016 PROJECT OF THE YEAR

THS_BlogCTA_TypeIIB

 

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Welcome to The Horton Standard!

Founded in 2000 and based on the Connecticut shoreline, Horton Group LLC is an award-winning real estate development and construction management firm with residential and commercial properties throughout the northeastern United States. While actively engaged in the acquisition and development of residential and commercial properties, Horton Group also operates as a construction management firm with three subsidiaries providing full-service construction, general contracting and facilities maintenance.

At Horton Group, we care. We have the proven experience, skill and craftsmanship to undertake the most challenging projects and make them a reality. From restoring historic buildings to developing and building new properties, we aim to provide quality services on every job, every step of the way.

It is with much excitement that we announce the beginning of our new blog, The Horton Standard.  Much of the content will touch upon our five core principles: Vision, Value, Quality, Relationships, and Results.

We look forward to beginning this journey and providing a more in-depth, behind-the-scenes look at the Horton Group and the high standards to which we hold ourselves.

 

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