| Condominiums in St. Clair Shores are usually considered upscale dwellings for upscale residents. However, the new condos at Harper and Martin cater to a different class of individuals—women who are in financial need and struggling to get back on their feet. One of these occupants is Melanie Aurand, 34, a single mother who filed for bankruptcy four years ago, just before the lending company foreclosed on her previous home. When she applied to live at the two-bedroom condominium, she was astonished to learn that the condominium project considered her their target customer. “Things are coming together. I’m happy we finally have a place to call our home,” she said. “It’s not easy once you file for bankruptcy go get somebody to help you buy a house, or even rent a house.” The six-unit luxury St. Clair Shores condominium complex was build on a 1,400 square foot condemned home. For women such as Aurand, they offer a rent-to-own opportunity, a rarity in the world of condominium purchasing. The company Maplewood Development, based in Chesterfield Township, is responsible for this condominium complex. Partners Paul VanDeVelde and Joe Monteleone championed the project, with Monteleone taking the lead. He was inspired to undertake this project when his niece suffered a divorce while taking care of her three children. When Maplewood initially bought the condemned home, along with four neighboring parcels, the plan was to build the condominiums, then sell each of the six units. However, at the end of the construction, the units sat vacant and unsold for seven months. “With the economy, no one is buying anything anymore,” Monteleone said. “We couldn’t sell the condominiums, and that’s when we decided we were going to rent them. But we said, ‘Let’s rent for the right reason.’” The cost of these St. Clair Shores condominiums is extremely reasonable, about the cost of a college apartment. The lease lasts for two years, and the prices remain the same throughout the duration of the lease. To further assist the occupants who may require financial assistance, a down-payment program credits the occupant with money for every month they rent, which will result in a significant down payment toward the condo if the renter doesn’t have a late payment in the first two years. “I’m happy we went this route,” Monteleone said. “It’s the right thing to do.” The condominiums have been extremely successful, for both the owners and their occupants. So far, five out of the six units are occupied, which has made Monteleone and VanDeVelde extremely happy. It also benefits renters such as Aurand, who works as a waitress and has opted for the condominium complex’s rent-to-buy option. Prior to moving into the condominium, she was living with her mother. “It will establish my credit, so in the future, if I want to move, I won’t have a problem,” Aurand said. Other condominiums with unique rental opportunities such as the St. Clair Shores project can easily be located with Detroit CondoCompany.com’s agents, who are intimately familiar with the area. |
