The Marquee Park Place

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robinhood_IHB

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Ouch, HOA at The Marquee in Irvine will be raised in January to over $1300. Relative to other high rises in Irvine, this is obnoxious when one considers the lack of amenities, poor HOA Board managment, and general staff disposition.



Anyone interested in learning more, please check out www.savethemarquee.org. It's a forum for owners/tenants disatisfied with the current state of The Marquee.



Thanks,



RobinHood.
 
[quote author="robinhood" date=1228793429]Ouch, HOA at The Marquee in Irvine will be raised in January to over $1300. Relative to other high rises in Irvine, this is obnoxious when one considers the lack of amenities, poor HOA Board managment, and general staff disposition.



Anyone interested in learning more, please check out www.savethemarquee.org. It's a forum for owners/tenants disatisfied with the current state of The Marquee.



Thanks,



RobinHood.</blockquote>


Long Marquee thread here

<a href="http://www.irvinehousingblog.com/forums/viewthread/1453/P275/">http://www.irvinehousingblog.com/forums/viewthread/1453/P275/</a>
 
I've been wondering for a long time how long it would take for HOAs to significantly raise their assessments due to increased costs/declining income.



Maybe we could change the title of this item to "Big increases in HOA fees"





I wonder how many of the HOAs around south coast are doing the same? Partially sold HOAs in new developments in Irvine?
 
I haven't bothered to check the blog, but why can't this place lower HOA's by reducing staff and maintenance? You don't need a lobby attendant 24-hours a day (I'm just assuming that is what they get) - cut out an 8 hour shift. You only need a cleaning crew at most once a week (assuming they get something more frequent). Etc. Etc.
 
Looks like Robinhood is a Marquee resident from what I can read.



<a href="http://www.savethemarquee.org/forum/viewtopic.php?f=8&t=19">http://www.savethemarquee.org/forum/viewtopic.php?f=8&t=19</a>
 
I feel for you man.

We looked at Marquee when they first went on sale.

It just seemed so over priced even at that time.



Here is a Coast Magazine article of that period.

Mentions your HOA President too.



<a href="http://cache.zoominfo.com/CachedPage/?archive_id=0&page_id=1628836876&page;_url=//www.coastmagazine.com/features/may06_moving.html&page_last_updated=7/12/2006+11:57:36+PM&firstName=Thomas&lastName=Testa">http://cache.zoominfo.com/CachedPage/?archive_id=0&page_id=1628836876&page;_url=//www.coastmagazine.com/features/may06_moving.html&page_last_updated=7/12/2006+11:57:36+PM&firstName=Thomas&lastName=Testa</a>





Face it. His idea of living "high on the hog" is no longer possible.

He and all of the owners in your building need to make some cuts

for the common good of the residents.
 
[quote author="biscuitninja" date=1228809601]I am so thankful I bailed and left....

I do feel for ya though, its not easy being stuck. I would organize a revolt.

good luck

-bix</blockquote>


You would have had a hard time storing your 4 cars and .50BMG in a high rise.
 
[quote author="robinhood" date=1228807637]Yes I am. Sometimes I wish I wasn't.</blockquote>


Robinhood,



I am familiar with all your posts on Save the Marquee. You are one passionate individual. Keep up the good work. You remind me of Molly Brown. Good luck. She did save many souls but could not prevent the disaster.
 
Last year when I looked at the rents at Marquee. Lowest was around $ 2900.00

for the 1200 Sq Ft unit.



Now they are down to $ 2200.00 a month at lease.

<a href="http://www.mcmonigleurban.com/">http://www.mcmonigleurban.com/</a>

3141. Unit 601.



I looked at your blog too Robinhood.

Man you have one uphill fight on your hands.



Old saying. "The fish stinks from the head first".

Sack that HOA president that has his head in the "RE Kool Aid High Rise Clouds" first thing.
 
[quote author="High Gravity" date=1228809798][quote author="biscuitninja" date=1228809601]I am so thankful I bailed and left....

I do feel for ya though, its not easy being stuck. I would organize a revolt.

good luck

-bix</blockquote>


You would have had a hard time storing your 4 cars and .50BMG in a high rise.</blockquote>


Nope, can't do it unless I purchase 2 places. The Barret is alas no more, I sold it for a small profit (100%)(.416 barrel and .50 barrel - out in a state that isn't irrational about expensive caliber rifles...). I hope to get a new rifle called Bohica in .510 DTC, which goes around the california law.... as the bullets are ALL custom (~$6 round) its not a cheaper alternative.



I still like the high rise concept, but I think its not cost efficient here because we just don't have the population density.

good luck

-bix
 
[quote author="no_vaseline" date=1228794066]<a href="http://www.savethemarquee.org">www.savethemarquee.org</a>



I am tempted to join and troll. How says the IHB?</blockquote>


I was thinking about it, especially after reading that they think lowering their HOAs by a couple a hundred bucks it will help stop the bleeding of the prices. Then I read the comments by "Reason" (obviously no relation to the IHB member "Reason"), who they think is the board president Tom Testa, and I thought... If I troll there, I am gonna be trolling him, because he is a giant douche.



Robinhood, since I probably won't join, you might to point out that Notice of Delinquent Assessments is public record. If it is Tom Testa, someone in RE and familiar with that whole public record recording thing, then he would know that you could go down to county records and look up the publicly recorded documents by searching "Marquee", or you can see who <a href="http://cr.ocgov.com/grantorgrantee/searchPersonsName.asp">has one recorded on them here</a> and if they paid up and the lien was released.



Is anyone surprised that Daniel Sadek's name comes up?
 
Here's an <a href="http://lasner.freedomblogging.com/2009/08/10/what-maguires-giving-back-to-the-bank/32985/">update</a>



Not sure why the link isn't working. But here's a bit of cut and paste of some of what is being given back to the bank.



<strong>Here?s a breakdown of the O.C. properties involved:



maguire-parkplacePark Place I & II in Irvine: Made famous four years ago when it became home to Marquee Park Place, first in Orange County?s recent wave of high-rise condo towers. It also is the site of 3161 Michelson Dr., originally slated to be anchored by New Century Financial Corp., a now-defunct subprime mortgage lender. Maguire sold 3161 Michelson in June.



According to Maguire?s web site: The 105-acre campus at Michelson and Jamboree Road consists of multiple office buildings, two residential towers and a host of dining, retail and specialty shops, including Ruth?s Chris Steak House and Houston?s Restaurant. The building?s have about 2.1 million square feet of Class ?A? office space.



maguire-stadiumStadium Towers in Anaheim?s Platinum Triangle: A 12-story, 255,000-square-foot building near Katella Avenue and the Orange (57) Freeway. Maguire acquired the property from Blackstone Group in February 2007 as part of a portfolio of 23 commercial sites, 21 of them in Orange County. NAI Capital in Newport Beach estimated the property?s value at the time at $89.3 million.



According to Maguire?s web site: The lobby features ?vaulted ceilings, marble flooring and herculite doors.?</strong>
 
[quote author="bltserv" date=1228810969]Last year when I looked at the rents at Marquee. Lowest was around $ 2900.00

for the 1200 Sq Ft unit.



Now they are down to $ 2200.00 a month at lease.

<a href="http://www.mcmonigleurban.com/">http://www.mcmonigleurban.com/</a>

3141. Unit 601.



I looked at your blog too Robinhood.

Man you have one uphill fight on your hands.



Old saying. "The fish stinks from the head first".

Sack that HOA president that has his head in the "RE Kool Aid High Rise Clouds" first thing.</blockquote>


So net rent minus the is HOA is $900? If you subtract taxes and Mello Roos, you must be getting pretty close to zero. Geez.
 
Irvine condo?s price plunges 50% in three years

<A href="http://irvinehomes.freedomblogging.com/2009/11/12/irvine-condos-price-plunges-50-in-three-years/10115/">http://irvinehomes.freedomblogging.com/2009/11/12/irvine-condos-price-plunges-50-in-three-years/10115/</A>
 
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