Lafayette 500 Apartamentos

We moved into this former nursing home that was built in 1908, changed to a nursing-student dorm, left empty for 35 years, and then the entire building was remodeled into one and two-bedroom apartments in the late 1980s. There are 17 apartments on four floors, each larger than 1100 sq.ft., the amenities include provided heat/AC, water, sewage, electricity, free laundry facilities, and basic cable. You can add phone and upgrade the cable, if you wish, but there were no other expenses.

Being... an old building, it had problems and had maintenance periodically. But for $1200 a month in a secure building, in a safe neighborhood is typical it was priceless.

Then the owners decided after eight months of ownership and interacting with the residents about problems that they did repair, that the only way to manage this building was to do a total interior tear down and rebuild - they can't change the exterior at all. So, they appeared two weeks ago to hand deliver our notices to vacate the premises by October 31, later extended to November 16. Our rents for October and the first two weeks of November are comped and we will receive our FULL deposits back upon exiting.

This would be fine if we lived in a market where they were apartments that were similar to these, but there are not. We, my wife and I, need a building and apartment that is accessible by wheelchair. There are a total of three buildings such as these within our price range that have a chance of a vacancy, and I don't want in two of them anyway. There are new apartments downtown, but the ones that meet our needs are prohibitively expensive. Rents downtown have increased by more than 20% in the last four years and our income has increased by 5%. .
We found one building that was totally accessible, after climbing four steps.

I'll update as time goes by. What I'd like to do is take a two-year round-the-world cruise, putting virtually everything in storage and then move back into this building when the rebuild is complete, provided I can afford it. But then again, I can't afford the round-the-world cruise, either. Lee mas