{mosimage}The concept was developed by three Idaho builders who constructed the first GarageTown USA in Coeur d’Alene in 2004. Since then, 18 other garage condos have been built or are under development in Alaska, Arizona, Colorado, Texas, Washington and Idaho.
Groundbreaking was recently held for the newest GarageTown, in Federal Way, Washington. Brad Thorson, who has a background in commercial real estate, is the developer/owner of the Federal Way site, where individual units will range in price from $100,500 to more than $200,000.
Thorson said one of the advantages of a garage condo is financial. “This is an opportunity to share ownership of a high-quality commercial building,” he said. And, he added, “You’re not throwing your money away on rent.”
The Federal Way GarageTown is being built with concrete tilt-up construction. Plans call for four storage buildings and a 1,350-square-foot clubhouse. There will be 67 units, ranging from 800 square feet to more than 1,400 square feet. Thorson hopes to have units ready for occupancy by December.
{mosimage}In a typical GarageTown USA development, about a third of the units store boats, motorhomes and other RVs, one-third house car collections and many others hold business inventory. But there are endless possibilities, said Carri Berglund, GarageTown’s national sales and marketing director. She said one person has set up a gallery to showcase his art collection, another built a basketball court and one installed a batting cage.
GarageTown’s amenities make it a comfortable place to hang out. For example, Berglund said, a person storing an old Corvette might do some work on the car, come to the clubhouse for a bite to eat, open his laptop to check messages, and take time to chat with other condo owners. People become acquainted with each other and communities develop. Some say their garage condo is a second home.
The clubhouse that Thorson is building will have restrooms, a shower, a kitchenette, a fireplace, a meeting area and a plasma TV. The security system will include video surveillance.
For RVers, there will be access to 50-amp service and there will also be an RV dump station on site. Electricity is individually metered. As with residential condominiums, owners pay a fee for shared maintenance costs.
For more information on GarageTown USA, visit www.garagetownusa.com. For information on the Federal Way GarageTown, contact Brad Thorson at (206) 947-9416.
*Is there an insurance company out there that will insure a GARAGE CONDO owner with a personal General Liability policy if they are NOT running a business out of their individual unit?
In other words, do you know of any insurance carriers that provide an individual General Liability (not a business) policy to a “commercial zoned” garage condo unit owner who is not running a business from their unit in case of an injury or fire?