Important Financial Considerations
Replacement Reserves
100% Funded in Replacement Reserves based on professional reserve study performed every 3 to 4 years (recent study performed 2015).
Condo Fees
No increase in condominium fees for years 2015, 2016, and 2017.
Utilities
Gas (heating & cooking) & water utilities are included in condominium fee. HVAC system is water sourced heat pump with individual air handlers in units. Reduced electricity consumption compared to standard heat pump systems as heating and cooling is generated by central cooling towers and boilers.
Focus on Reduction in Consumption
From the beginning, our Boards have remained focused on finding ways to reduce energy consumption and costs. In the past several years, our electricity consumption has been reduced by over $200,000 per year through projects including garage lighting retrofit, variable speed exhaust systems and controlled motor speeds to name a few.
On-site Management Team
Staff
Our fully-staffed, on site management office is located directly behind the front desk. We have a very attentive staff, specially trained and committed to making your life easier and more enjoyable.
The First Impression
Our building has live Front Desk coverage 24/7/365. Our competitors do not offer this. Concierge Services & after-hour security guard service.
In-Unit Service
Maintenance Engineer available Monday through Friday to assist in certain routine, in-unit maintenance concerns at minimal charge.
About The Building
Completed in 2007; 208 Units, 7 Story Mid-Rise
Major Step Towards a Smoke-Free Environment
Effective October 29, 2015, by a vote of a super majority of the Council of Unit Owners, Residence Park Place successfully passed a Bylaw Amendment to ban smoking in all units, common areas and limited common areas for all new owners and renters (except exterior common area(s) specifically designated by Board for smoking, if any). Note: Amendment does include a “grandfather” clause for original owners/renters.
Parking
Access-controlled, assigned garage space(s) with public garage attached for guest parking.
Amenities
Great amenities which include: Party Room, Club Room, Library (enjoy a hot cup of coffee/tea & read the newspaper in this space along with some neighborly conversation), Fitness Center, Dog Park, Beautifully furnished Rear Courtyard, Swimming Pool and Hot Tub. No fee for residents to reserve Party Room or Club Room for private functions. (See Capital Improvements information below.)
In-Building, Newly Remodeled Fitness Center
Complete Fitness Center Renovation scheduled for 2017. There is a standing process for reviewing capital improvements each year so that suggestions from our owners and renters are reviewed.
Population
Diverse population which includes neighbors ranging in age from infants to retirees!
Capital Improvements
Completed in June 2016: Expansion and enhancement of rear courtyard patio area to include 2 outdoor kitchens for great entertainment options for our residents!
Completed in May 2016: Common Area Hallway Carpet & Wall Treatment Renovation.
Complete Fitness Center Renovation scheduled for 2017. There is a standing process for reviewing capital improvements each year so that suggestions from our owners and renters are reviewed.
Social Activities
Great social activities offered by an active Social Committee for those who enjoy a true sense of community.
Floor Plans
22 Different Floor plans…not a cookie-cutter building.
Unique Exhaust System
Specially engineered exhaust fan system which eliminates cooking odors in common area hallways.
Access Control/Security Monitoring
Live & recorded camera system to monitor access control at all building entrances (16 cameras total). All entrances and garage areas are locked and accessed with use of security fob or transmitters.
Luxury Atmosphere
Main Lobby, P1 Amenities, Rear Courtyard Area and Swimming Pool Deck areas have speaker systems and components for enjoying music.
The Perks in and around Residence at Park Place
Winter-Time Swimming
Year round agreement with Westin Hotel for residents to utilize indoor swimming pool facility (no charge).
Location, Location, Location
Superb location…five eating establishments in the Park Place community with underground access through the garage to each of these locations in inclement weather conditions. Varuna Salon & Spa located just steps from the front entrance. Discounts offered at most Park Place establishments, including Westin hotel stays for guests! Scores of other restaurants and Annapolis attractions within walking distance.
Circulator Trolley
Trolley ride every 20 minutes to and from Park Place to waterfront via West Street at no cost.
Park Place: Future Home of the Maryland Theater of Performing Arts
MTPA
An already constructed infrastructure at Park Place awaits the building of the Maryland Theater of the Performing Arts, a 1,000 seat performance venue and conference center that will complete the Park Place community and bring growth to uptown west Annapolis and increased property values to those fortunate to call this home.