Montpelier Condominiums at the Lane Shops
When people call into my office asking for a condo with one-level living and within walking distance to town, the condos at the Lane Shops and The Foundry are the units that are at the top of the list. These modest two bedroom condos win over on location.
Located right on the North Branch of the Winooski River, the condos at Lane Shops and The Foundry are just a couple of blocks away from the Kellogg Hubbard Library, and the vibrant Main Street. Some of the units have decks or balconies overlooking the river. There’s a footbridge crossing over to Birchgrove Baking for morning croissant and to Meadow Mart for everything else.
The units are a mixture of flats (single level living, be they on the first or the second floor) and townhouses (two floors of living space). They were built with electric storage heat units and electric baseboards, and have an off-peak electric rate that was grandfathered in from when the condominiums were built in the 1970s and 1980s. Many owners have subsequently updated the heating to direct vent propane heaters, which are very efficient and easily do the trick.
Most units come with two parking spaces. Some have only one, but there is spillover and guest parking which always seems available. I’ve never heard anyone complaining about not finding a parking space. Some of the units have detached garages, and others park al fresco.
At this writing, association fees are in the range of $150 for The Foundry units and closer to $230 for the Lane Shops on Mechanic Street. The association fees cover exterior maintenance, landscaping, snow removal, and building insurance.
When the Lane Shops or The Foundry condos come on the market, they tend to go quickly. Any developers out there might take a cue from this and work toward creating more 900-1100 square foot condos close to town. There’s certainly demand for it.