Condo market is starting a comeback

From the June 8, 2014 Detroit Free Press: 

"After booming and crashing, Detroit's condo market is starting a comeback"

Key information from the article for Manors co-owners:

Local development experts say the reason most large banks haven’t sold mortgages for new Detroit condos is that the buildings are considered nonwarrantable, meaning Fannie Mae, Freddie Mac and the FHA are unwilling to buy loans on the secondary market that originated in such buildings.

This situation makes the mortgages riskier for lenders, who must keep the loans on their books rather than sell them off.

In 2012, Detroit-based First Independence Bank became one of the first lenders since the recession to write mortgages for new Detroit condo buildings with 10% to 20% down payments.

At least five other local banks and credit unions have since followed suit.

• First Independence Bank
• Quicken Loans
• Ross Mortgage
• Lake Michigan Credit Union
• Talmer Bank and Trust
• Huntington
• Level One Bank

Minutes - BoD meeting of April 25, 2014

Click here to read the minutes of the Board of Directors meeting held on April 25, 2014.

Suspicious person & vehicle

A suspicious person and vehicle was observed in the vicinity of Lexington West between N. Central Park and Lexington South at around 1:25 AM, Friday, June 6, 2014. The car was either an older model Mercury Sable or Ford Taurus of undetermined color.  The driver was a man of slender build and about 6 foot tall. The Shelby Twp. Police Department was notified and they will step up patrols in the area.

Below is a summary of all Shelby Twp. Police incident reports within all of Central Park for the first five months of 2014.

Police Reports in Central Park for first five months of 2014

Map of incident reports Jan. 1 through May 31, 2014
(scroll down for map of prior year incident reports)

According to  Crimedar.com, these are all of the Shelby Township Police Department incident reports within Central Park that were filed during the period of January 1 through May 31, 2014.  Click on the links below to read the incident report summary (street number addresses are approximate).

Anderson Ct.

Blackwell

E. Central Park
April
March

Haymarket

Moore Ct.

N. Central Park
April
March
January

N. Central Park
and Lexington W.
N. Central Park
and E. Central Park

Regent
May
March

St Nicholas

S. Central Park

Tottenham

Watling

W. Central Park

W. Central Park
and Haymarket
W. Central Park
and Baker

Map of incident reports Jan. 1 through May 31, 2013

New light bulbs were installed today

The new light bulbs were installed in all of the exterior garage light fixtures today at Units 16 through 167.

Spring 2014 Newsletter

Click here to read the electronic version of our Spring 2014 Newsletter.

Minutes of the 1/15/2014 Annual Meeting

Click here to read the minutes of the Annual Meeting of Co-owners that was held on Jan. 15, 2014.

Election results from that meeting: Bhartan Amin, Larry Cybulski and Mike Grobbel were re-elected to serve as the Board of Directors for 2014.

Minutes of the 1/10/2014 BoD meeting

Click here to read the approved minutes of the Jan. 10, 2014 meeting of the Board of Directors.

WOW infrastructure installation plan

WOW's installation contractor will be installing their underground infrastructure in four phases that correspond to the four sub-associations in Central Park.

MISSDIG is on-site today in the Manors to mark all of the existing underground utilities.  As soon as that is complete, the contractor will begin underground work within the Manors.  When the work in the Manors is nearly complete in a week or two, MISSDIG will begin marking the utilities in the Meadows and then the contractor will shift their underground work to that sub.  The same pattern will follow for the underground work in the Gardens and Kensington sub-associations.

Click here to read more about the WOW's Central Park infrastructure installation project.

Annual Membership Meeting of the CP Master Association

You should have received a letter in today's mail informing you of the upcoming annual membership meeting of the Central Park Master Association.  It will be held on Friday, May 2, 2014 at the Shelby Twp. Municipal Building in the Board Room. 

Our New Association Manager at Kramer-Triad

Ryan Dorner has resigned his position at Kramer-Triad where he had been our Association Manager for many years.  Our new Association Manager is Marty Tessmar and Ryan has been working with Marty so that there will be a smooth transition.

The Board thanks Ryan for his years of service to our community and wishes him well in his new endeavors.

Installation of WOW Internet, Cable & phone infrastructure

Brian Sommers of WOW Internet, Cable & Phone met with board members from Central Park yesterday morning to walk us through their construction plans.

Click here to read an outline summary of the information they provided.