It appears that The Pinnacle, 20 2nd Street NE,Minneapolis, MN 55413 and The Falls, 110 First Avenue NE,Minneapolis, MN 55413 have been looking for a new energy provider.  According to the recent article in the Star Tribune:

“The company, Sentinel Real Estate and its affiliate, Energy Center LLC, have threatened to start shutting off the heat in the buildings, which house about 250 condos, starting with the pool, he told me. Mather, president of the condo association board, says it’s in retaliation for them winning a lawsuit over whether the condo association could sever a long contract with the provider.”

For a full copy of this article, please check out http://www.startribune.com/local/114522284.html?elr=KArks:DCiUHc3E7_V_nDaycUiD3aPc:_Yyc:aU0c7Ok:Pia_eyckciU

The Falls and Pinnacle are in essence the same complex. They share the same common areas and have a combined association. They do have separate addresses and front entrances though. The Falls and The Pinnacle are part of the NE North East (East Bank) downtown Minneapolis condos for sale.  A full list of East Bank Minneapolis condos can be seen @ http://twincitiescondoshop.com/hnav/search-for-condo-developments/downtown-east-bank-ne/

To View all The Fall Condo Condominiums available for sale, click on:http://twincitiescondoshop.com/hnav/search-for-condo-developments/downtown-east-bank-ne/the-falls/

To View all The Pinnacle Condo Condominums available for sale, click on:http://twincitiescondoshop.com/hnav/search-for-condo-developments/downtown-east-bank-ne/pinnacle/

Other NE (East Bank) Downtown Minneapolis condos and lofts in that area include: The Calumet Lofts, Cobalt Condominiums, Durkee Atwood Lofts, Flour Sack Flats, Village of St. Anthony Falls and the Winslow House. 

I am sure the HOA (Home Owners Association) at The Falls and The Pinnacle will figure out this issue with their energy provider and condo owners will not see their units go cold.  The Falls and The Pinnacle have been one of the great success stories of condo conversions in downtown Minneapolis. The common areas are fabulous and include a state-of-the-art workout center, yoga center, business conference room, media center with movie like screen, indoor pool and hot tub and exterior patio area with gas grills. If your looking for an affordable, high-class downtown Minneapolis condo for sale, The Falls and The Pinnacle might be a great option for you! – John Schuster, Broker Associate, Coldwell Banker Burnet Minneapolis Lakes Office.

Triva Question: If you were looking for fun, energy and night life in downtown Minneapolis, MN Minnesota, Where would you want to go?  Answer: Downtown Minneapolis’ North Loop (Warehouse District). The North Loop is home to Twins Baseball @ Target Field http://minnesota.twins.mlb.com/, Timberwolves Basketball @ Target Center http://www.nba.com/timberwolves/, enjoying comedy @ Acme Comedy Club http://www.acmecomedycompany.com/ or eating at one of the fabulous North Loop (Warehouse District) listed below.

If you are thinking of living in Downtown Minneapolis and you think the North Loop  (Warehouse District) neighborhood is for you….you should check out this neighborhood website @ http://www.northloop.org/North_Loop_Neighborhood/Home.html North Loop Neighborhood Association.

The North Loop area is home to some of the best lofts and condo in DOWNTOWN MINNEAPOLIS! Some of the condo developments include: The Renaissance, The Landing, 710 Lofts, 720 Lofts, 730 ofts, Bassett Creek Lofts, Bookmen Lofts, Bookmen Stacks, Harvester Lofts, Hershel Lofts, The Itasca, Lindsay Lofts, Riverwalk Lofts, Riverstation, Rock Island Lofts, Security Warehouse Lofts, SO HO Lofts, Tower Lofts and Whitney Square Lofts. You can search the mls and all active condos, condominiums and lofts via this sweet new search mash-up @ http://twincitiescondoshop.com/hnav/search-for-condo-developments/north-loop/

If your are a condo, condominium or loft owner in the North Loop Warehouse District, you know what this lively area has to offer…  For suggestions and more info on where to dine in the North Loop check out http://www.northloop.org/North_Loop_Neighborhood/Food_%26_Drink.html or take a walking tour and check out:

Bar Lagrassa
800 Washington Ave N
612.746.3158

Bev’s Wine Bar
250 3rd Ave. N.
612.337.0102

Be’Wiched Deli
800 Washington Ave N
612.767.4330

Black Sheep
600 Washington Ave. N
612.342.COAL (2625) 

Bunker’s
761 Washington Ave. N
612.338.8188

Clubhouse Jaeger
923 Washington Ave. N.
612.332.2686

C McGee’s
901 N 3rd St, STE 123
612.288.0606

Corner Coffee
514 N 3rd St
612.338.2002

Cuzzy’s
507 Washington Ave N
612.339.6211

Haute Dish
119 Washington Ave N
(612) 338-8484

Janine’s Coffeehouse
119 N 1st St.
612.630.5188

Java J’s
700 Washington Ave N
612.236.9444

JD Hoyt’s
301 Washington Ave N
612.338.1560

Jetset
115 N. 1st St.
612.339.3933

Local D’Lish
208 N 1st St.
612.886.3047

The Loop 
606 Washington Ave N
612.340.0010

Metro Market on 5th
201 5th Ave N
612.333.0855

Monte Carlo
219 3rd Ave N
612.333.5900

Moose & Sadie’s
212 3rd Ave N
612.371.0464

North Loop Wine and Spirits
218 Washington Ave N
612.338.5393

One on One Bicycle Studio
117 Washington Ave N
612.371.9565

Origami
30 N 1st St
612.333.8430

Runyon’s
107 Washington Ave N
612.332.7158

Sapor Café & Bar
428 Washington Ave N
612.375.1971

Toast Wine Bar & Cafe
415 N 1st St
612.333.4305

There’s great news from FHA! If you looking to purchase a CONDO CONDOMINUMS LOFT in the Twin Cities (Minneapolis and St. Saint Paul) area, and use FHA financing, this is an important update! They have extended condominium project approvals that were previously due to expire on December 7, 2010. Here is a chart outlining the new expiration dates:

FHA changed and staggered these expiration dates to have better control over the volume of condominium project renewals they must process. But keep in mind: they do not anticipate any further extensions! If you have any clients who may benefit from these extensions, let me know as soon as possible. I’m always happy to help your clients secure the home of their dreams.

To look up condo expiration dates in your area use this site:

https://entp.hud.gov/idapp/html/condlook.cfm
INFORMATION SOURCED FROM:
Drew Hendrickson
PHH Home Loans
Phone: (612) 925-8436
drew@drewhendrickson.com

To tour Minneapolis Condos (condominiums) and Lofts contact Minneapolis Condo King John Schuster, Coldwell Banker Burnet 612-924-7140 jdschuster@cbburnet.com

If you are thinking of buying a Minnneapolis, St.Paul, Twin Cities, Hennepin County, Dakota County, Ramsey County, Washington County, Anoka County, Carver County or Scott County condo for sale and might be using FHA FINANCING, beware! 

After speaking with Drew Hendrickson, PHH Home Loans today (Drew.Hendrickson@phhonline.com 612-925-8436) it appears that we may be in trouble with regards to FHA Financing Approved condos…PHH Home Loans stated, “It appears that 483 out of the 1258 condo projects expire on 12/7/2010.  That is 38% of the approved condo projects expire on 12/7/2010.”  If you try purchasing a condo with FHA financing after December 7th and that developments FHA approval has lapsed…FHA financing at best will be delayed weeks to month, at worst, the development will longer qualify for FHA financing and you can no longer purchase that dream condo with FHA financing!

Download FHA approved list w/date of FHA Condo Certificiation Expiration below:

http://twincitiescondoshop.mightyagent.com/wp-content/uploads/2010/11/MN-FHA-Approved-Condo-List.-John-Schuster-Coldwell-Banker-Burnet.xls

Below is the list of items needed for full FHA condominium condo flat approval. The document linked above has info that is not available if your just SEARCH THE MLS looking for Minneapolis condos for sale.  If you want to buy a condo that is not approved or approval has lapsed, there is still hope!  Below is a list of items that will be needed.

Documents Required for FHA/DELRAP Approval

Established Condo Needs list

As Of October 2010

Definition of Established Condominium:   Buildings were constructed as Condominiums and all units, all common elements and improvements have been completed and final certificate of occupancy has been issued over one year.

Submit one (1) copy of each to Project Approval:

1. FHA Full Questionnaire- must be current, fully completed and executed.
2. Actual HOA Budget- Budget must include allocations/line items to ensure sufficient funds are available to maintain and preserve all amenities and features unique to the condominium project; provides for funding of replacement reserves for capital expenditures and deferred maintenance in an account representing at least 10% of the budget; and provides adequate funding for insurance coverage and deductibles. 
3. Copy of Master Insurance policy Must name the HOA as insured.  Must have 100% replacement coverage.  Must include all endorsements and evidence of fire, hazard, liability and fidelity coverage.  Coverage should be adequate for the subject phase.  Coverage types, amounts, and deductibles should be provided; and all buildings and/or units will need to be identified.  For projects greater than 20 units, Fidelity/Employee Dishonesty required.  Coverage must be no less than a sum equal to three months aggregate assessments on all units plus reserve funds.  If the Association does not provide for “All-in” hazard insurance, then the borrower will need to purchase a Homeowners-6 (HO6) policy.
4. Recorded Covenants and Restrictions Declarations- Must have recording stamp or recording information on it.  Must have all or any annexations and Amendments.
5. Executed and Adopted Bylaws- Must be signed and notarized even if the State that the Condominium is in does not require this.
6. Recorded Condo Plat Map- Must have Condominium Legal description that matches the legal in the Covenants and Restrictions. 
7. Management Agreement- If applicable.  If self-managed than nothing is needed.
8. Recorded Condominium Site Plans- This is different from the Plat Map this shows an aerial view of all Condominium units.
9. Articles of Incorporation-Must be filed with the state. 
10. Plan of Evidence of transfer of control- Can be a copy of the first meeting minutes.