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The Village cashes in on co-op to condo switch in Ann Arbor

Wednesday, March 17, 2010

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Ann Arbor

There's a new condo project in Ann Arbor, but it's not new construction. The Villages are making the leap from co-operative living to condominiums to help create more value in their living area.

Excerpt:

Buyers seeking a condominium in Ann Arbor can turn to one of the city�s vintage communities to find a new option on the market.

The Village - long-known as Pittsfield Village - completed the conversion of its 422 units from cooperative to condominium in late 2009.

Now owners and buyers will see the market set the price for the homes - which are again called Pittsfield Village after the transition.

"Over the next 18 months to 24 months, the Village is going to create its own value," said Hilary Ward, a Realtor with the Charles Reinhart Co. who has several listings in the community.

Read the rest of the story here.