Hotel Condos are a fairly new trend, more common in larger cities. These buildings allow you to purchase a room, and when you are not inhabiting it, they will rent it as a hotel room. Prominent projects include the Trump Tower in Chicago, and the W Las Vegas. But is it right for South Bend? At least two developers think so. They are initiating projects that cater to Notre Dame alumni and fans. Here is how they stack up:
Waterford Estates
Site of the former Ramada Inn, about 2.5 miles from the stadium.
199 units. 276 – 617 square feet. $99,500-$149,000.
Association fees and hotel split: $300-$600/month. 50/50 hotel rental split except weekends of ND games. Then a flat $50 fee.
Hall of Fame Gameday Center
Site of a former parking garage, about 2.4 miles from the stadium.
Unpublished number of units. 324 sq ft studio – 1,470 sq ft 3 br plans. $150,000 – $800,000.
Association fees and hotel split: Not finalized.
And for comparisons sake, a $155,000 home pulled from the local MLS:
705 Roland St.
About 2.6 miles from the stadium.
Built in 2003. 1,955 sq ft. 4 br, 2.5 ba. Cul-de-sac lot. 2-car garage.
Property taxes: $259/month.
2 Responses