Loft apartments are apartments that are generally built from former industrial buildings. When industrial developments are developed into condominiums instead of apartments, they may be called loft condominiums. The general term warehouse-to-loft conversions may sometimes be used for development of industrial buildings into apartments and condominiums. "Loft-style" may also refer simply to developments where a street-level business occupies the first floor while apartment "lofts" are placed below the first floor.
Sometimes, loft apartments are one component of municipal urban renewal initiatives that also include renovation of industrial buildings into art galleries and studio space as well as promotion of a new part of the city as an "arts district."
Originally popular with artists, they are now highly sought-after by other bohemians, and the gentrification of the former manufacturing sectors of medium to large cities is now a familiar pattern.[1] One such sector is Manhattan's Meatpacking District. The adoption of the Adaptive Reuse Ordinance (2001) in the City of Los Angeles (primarily the Arts District) is another example of such legislation to encourage the conversion of no longer economically viable industrial and commercial buildings to residential loft communities. Such is the demand for these spaces that real estate developers have taken to creating ready-made "lofts" in urban areas that are gentrifying or that seem primed to do so. While some of these units are created by developers during the renovation of old buildings, a number of them are included in the floor plans of brand new developments. Both types of pre-fab loft offer buyers or renters proximity to urban amenities afforded by traditional lofts, but without perceived safety risks of living in economically depressed formerly industrial areas.
Real estate industry distinguishes between "hard lofts", which are former industrial buildings converted to residential or live/work use, and "soft lofts", which are loft-style residential buildings built entirely anew as described above. urban realty austin-soco lofts austin-urban space austin-triangle apartments austin-austin urban space-the loft austin-amli austin-urban living austin-triangle austin apartments-caswell lofts austin-urbanspace austin""the shore condos austin-urban space realtors austin-04 lofts austin-austin cool properties-soco lofts austin tx-cool austin properties-barton place austin-waterstreet lofts austin-555 condos austin-austin 360 realty-shore condos austin-loft austin-bel air condos austin-monte vista condos austin-triangle apartments austin texas-belair lofts austin-loft austin texas-austin soco lofts-lofts austin-avenue lofts austin-austin city lofts-soco lofts austin texas-loft austin tx-condominiums austin-avenue lofts austin tx-pedernales lofts austin
The difference between a condominium and an apartment complex is purely legal: there is no way to know a condominium from an apartment simply by looking at or visiting the building. What defines a condominium is the form of ownership. The same building developed as a condominium (and sold in individual units to different owners) could actually be built someplace else as an apartment building (the developers would retain ownership and rent individual units to different tenants). As a practical matter, though, builders tend to build condominiums to higher quality standards than apartment complexes because of the differences between the rental and sale markets.
Technically, a condominium is a collection of individual home units and common areas along with the land upon which they sit. Individual home ownership within a condominium is construed as ownership of only the air space confining the boundaries of the home (Anglo-Saxon law systems; different elsewhere). The boundaries of that space are specified by a legal document known as a Declaration, filed of record with the local governing authority. Typically these boundaries will include the drywall surrounding a room, allowing the homeowner to make some interior modifications without impacting the common area. Anything outside this boundary is held in an undivided ownership interest by a corporation established at the time of the condominium’s creation. The corporation holds this property in trust on behalf of the homeowners as a group–-it may not have ownership itself.
Condominiums have conditions, covenants, and restrictions, and often additional rules, that govern how the individual unit owners are to share the space.
It is also possible for a condominium to consist of single family dwellings: so-called "detached condominiums" where homeowners do not maintain the exteriors of the dwellings, yards, etc. or "site condominiums" where the owner has more control and possible ownership (as in a "whole lot" or "lot line" condominium) over the exterior appearance. These structures are preferred by some planned neighborhoods and gated communities.
A homeowners association (HOA), whose members are the unit owners, manages the condominium through a board of directors elected by the membership. The concept exists under various names depending on the jurisdiction, such as "unit title", "sectional title", "commonhold," "strata council," or "tenant-owner's association", "body corporate", "Owners Corporation", "condominium corporation" or "condominium association." Another variation of this concept is the "time share" although not all time shares are condominiums, and not all time shares involve actual ownership of (i.e., deeded title to) real property. Condominiums may be found in both civil law and common law legal systems as it is purely a creation of statute. Among other things, the HOA assesses unit owners for the costs of maintaining the common areas, etc. That is, the HOA decides how much each owner should pay and has the legal power to collect that.
The Cosmopolitan, a condominium in Singapore
The description of the condominium units and the common areas and any restrictions on their use is established in a document commonly called a "Master Deed" (also known as the "Enabling Declaration", the "Declaration of Conditions", or the "Condominium Document"). Among other things, this document provides for the creation of the HOA. Rules of governance for the association are usually covered under a separate set of bylaws which generally govern the internal affairs of the condominium. Condominium bylaws usually establish the responsibilities of the owners' association; the voting procedures to be used at association meetings; the qualifications, powers, and duties of the board of directors; the powers and duties of the officers; and the obligations of the owners with regard to assessments, maintenance, and use of the units and common areas. Finally, a set of rules and regulations providing specific details of restrictions on conduct of unit owners and residents are established by the HOA. [2] These are more readily amendable than the declaration or association bylaws, typically requiring only a vote of the HOA board. Typical rules include mandatory maintenance fees (perhaps collected monthly), pet restrictions, and color/design choices visible from the exterior of the units. Generally, these sets of rules and regulations are made available to residents and or as a matter of public record via a condominium or homeowners association website or through public files, depending on the state and its applicable laws. Condominiums are usually owned in fee simple title, but can be owned in ways that other real estate can be owned, such as title held in trust. In some jurisdictions, such as Ontario, Canada or Hawaii USA, there are "leasehold condominiums" where the development is built on leased land.
In general, condominium unit owners can rent their home to tenants, similar to renting out other real estate, although leasing rights may be subject to conditions or restrictions set forth in the declaration (such as a rental cap for the total number of units in a community that can be leased at one time) or otherwise as permitted by local law. urban realty austin-soco lofts austin-urban space austin-triangle apartments austin-austin urban space-the loft austin-amli austin-urban living austin-triangle austin apartments-caswell lofts austin-urbanspace austin""the shore condos austin-urban space realtors austin-04 lofts austin-austin cool properties-soco lofts austin tx-cool austin properties-barton place austin-waterstreet lofts austin-555 condos austin-austin 360 realty-shore condos austin-loft austin-bel air condos austin-monte vista condos austin-triangle apartments austin texas-belair lofts austin-loft austin texas-austin soco lofts-lofts austin-avenue lofts austin-austin city lofts-soco lofts austin texas-loft austin tx-condominiums austin-avenue lofts austin tx-pedernales lofts austin
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"Austin" redirects here. For other uses, see Austin (disambiguation).
Austin is the capital city of the U.S. state of Texas and the seat of Travis County.[5] Located in Central Texas on the eastern edge of the American Southwest,[6] it is the fourth-largest city in Texas and the 13th most populous city in the United States.[7] It was the third-fastest-growing large city in the nation from 2000 to 2006.[8] Austin has a population of 790,390 (2010 U.S. Census).[2] The city is the cultural and economic center of the Austin–Round Rock–San Marcos metropolitan area, which has a population of over 1,716,291 (2010 U.S. Census),[9] making it the 35th-largest metropolitan area in the United States.
The area was settled in the 1830s on the banks of the Colorado River by pioneers who named the village Waterloo.[10] In 1839, Waterloo was chosen to become the capital of the newly independent Republic of Texas. The city was renamed after Stephen F. Austin, known as the father of Texas.[10] The city grew throughout the 19th century and became a center for government and education with the construction of the Texas State Capitol and the University of Texas.[11] After a lull in growth from the Great Depression, Austin resumed its development into a major city in the 1980s and emerged as a center for technology and business.[10] Austin is home to many companies, high-tech and otherwise: Fortune 500 corporations Freescale Semiconductor, Forestar Group, and Whole Foods Market, are headquartered there; AMD, Apple, Broadcom, Google, IBM, Intel, Qualcomm, ShoreTel, Synopsys and Texas Instruments have prominent regional offices there.[12] Also Dell's Worldwide Headquarters is located in nearby Round Rock, a suburb of Austin.
Residents of Austin are known as "Austinites". They include a diverse mix of government employees (e.g., university faculty & staff, law enforcement, political staffers); foreign and domestic college students; musicians; high-tech workers; blue-collar workers; businesspeople; and, a sizeable GLBT gay community.[13] The city is home to development centers for many technology corporations; it adopted the "Silicon Hills" nickname in the 1990s. However, the current official slogan promotes Austin as "The Live Music Capital of the World", a reference to the many musicians and live music venues within the area, and the long-running PBS TV concert series Austin City Limits .[1][14] In recent years, some Austinites have also adopted the unofficial slogan "Keep Austin Weird". This interpretation of the classic, "Texas-style" sense of independence refers to: the traditional and proudly eclectic, liberal lifestyles of many Austin residents; a desire to protect small, unique, local businesses from being overrun by large corporations; and, as a reaction to the perceived rise of conservative influences within the community.[15] In the late 1800s, Austin also became known as the City of the "Violet Crown" for the wintertime violet glow of color across the hills just after sunset.[16] Even today, many Austin businesses use the term "violet crown" in their name. Lastly, Austin is known as a "clean air city" for the city's stringent no-smoking ordinances that apply to all public places and buildings, and all restaurants. [17]
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