March 19, 2007

The last unit available in Adams One the first florr. It's for rent on a month to month and for sale at ~$145,000 (make a deal).

Also, several of the units in the building are still owned and rented out by the developer. An investor might find this to be an opportunity.

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Adams One just one an award for historic preservation from the city of Trenton. Congratulations!

Adams One is a new condo development at the intersection of Prospect and W. State St. There are 9 units available in the building. The building was a pharmacy back in the day and more recently has been apartments.

I've been in the building and have talked to the developer. Adams One is a nice building with nice new units. There's a work-out room in the basement that's a good bit better than the one in my building (Grand Court Villas). There's also storage in the basement and old framed pictures of the building in the stairwell.

These condos aren't exactly "lofts" meaning they aren't classic open plan designs. Rather they're condos like you'd expect to see in an urban setting. It's evident that the building has been re-purposed (this is a good thing). The flooring on the upper floors is apparently original equipment. If this is true then I definitely want the name of the refinishing company the developer used. I really like the 1st floor unit and while the building is zoned residential, it would make a great live-in work studio. I can't really add or say too much about the layouts and amenities themselves. You'll definitely want to see it for yourself.

This is worth a look especially if you work downtown as it's an easy walk. It's also directly on the Raritan Canal so there's good access for biking. (I wouldn't try running on the towpath especially in the evening as this stretch isn't the safest.)

Some other location positives are proximity to the river especially after Rt. 29 is converted to boulevard and pedestrian access is possible. Also, The Trenton Club, NJ's oldest private club is nearby as are several state-wide non-profits.

These condos are in the price range of much of Trenton's real estate however, it has the upside of being new construction.

Here are my other "upside" suggestions. Whoever rents or buys these units should be ready to be an active Trenton resident. You'll want to help run the West End civic association. You'll want to be a pain in the butt of the State, who manages the Raritan Canal. You'll want everybody in town to know you live in this building (all of the old timers know about this project). You'll have a vested interest in Trenton's growth. Most Trentonians living in nice houses are also active in making sure their property values improve. Suburbanites don't necessarily spend there days worrying about things like this.

If the towpath can be cleaned up in this area, it has the potential to make Trenton a real destintation. Assume you own the towpath, keep it clean, and you'll have waterfront property. Its not like the State would care.

I hope I've conveyed the opportunity. This building is a chance to live a unique and involved lifestyle. Dull people won't get as much out of Adams One, but then again dull people probably aren't looking at the Trenton Lofts web site.

The developer is offering a rent to own plan that makes this attractive to someone that can't quite commit.

ADAMS ONE WINS HISTORIC PRESERVATION AWARD

Trenton Times article