Trace Loft Owners Take Control of HOA

Last Trace post for awhile, I promise.

Tonight we had the hand off meeting of the HOA from Ted, the developer, and his cronies to the home owners of Trace Lofts. The process, while somewhat agonizingly slow as everyone asked questions, was smooth. We waived the audit, expanded the board to five members and elected four home owners to the board. The best part was of course pizza and beer afterwards.

At the pizza party some interesting gossip came up…

Of note was that the Reload bags store around the corner was running an anti-Trace poster in their windows (I swung by tonight but it appears to be down.) Apparently they dislike the yuppification of their neighborhood (to use a Slog term, it’s been Schrothed). A number of folks commented, including Ted, that they owned Reload bags and didn’t appreciate the poster. I commented that I don’t know who other than yuppies and hipsters can afford a $300 messenger bag so who are they kidding by boycotting us? (Side note: my messenger bag of choice is from Alchemy Goods another Seattle based messenger bag company.)

Ted filled us in on his side of the Oddfellows story and it sounds like he’s trying his best to find a compromise with the art tenants but that the city is the party not matching their words with actions. Of course The Slog will never report his side of the story.

We did some unit show and tell with Ted. I think both sides couldn’t be happier with how the units turned out.

The Trace Lofts retail remains un-leased and Ted says I’ll be the first to hear about who they sign. Based on attendance at the handoff meeting I think a high end clothing store would be the best match with building owners as everyone was exceedingly well dressed (including Ted who with his new hair cut does not look like an Eastside family man at all.) Rather, we looked like a room full of New Yorkers or folks from San Francisco, not a bunch of REI wearing Seattlites.

My only advice to other new construction home owners is to form your HOA sooner. We waited way too long. I think we were all expecting the developer to initiate the process as this is typically the case. However, our developer is basically a one man shop and it wasn’t on the top of his priority list. We, the residents, should have spoken up sooner.