Peninsula Park Commons was developed by Eli Spevak and Jim Labbe with lots of help from Amy Stork. Since completing this project, Eli has created a company called Orange Splot LLC that continues to build similarly community-oriented developments.
Legally, Peninsula Park Commons is a 2-stage condominium project consisting of 9 units: 6 in the first stage and 3 in the second. In addition to outdoor courtyards, ‘general common elements’ consist of a shared studio apartment (‘common house’), guest room with half bath, bike storage room, and most of the basement below the original building. As with any condominium development, the declaration, by-laws and plat were reviewed and approved by the State of Oregon and recorded with Multnomah County.
These documents are fairly typical of condominiums in Oregon, with a few important customizations that make them more conducive to cooperative living:
- The By-laws open with our values statement as a reminder of the core goals of our community
- Every unit owner is automatically a member of the board of directors and has an equal vote in decisions (rather than based on the unit square footage)
- Decisions are made by consensus, reverting only to majority voting if consensus cannot be reached after several attempts
- All owners participate in self-governance and help with on-going management of the property; if anyone opts out of these rolls, they must make monetary payments in lieu of their time
For more information about the condominium conversion process and leads to professional consultants (surveyor, attorney…) who helped out, contact Eli Spevak at (503) 422-2607.
To go right to the source for how to set up a condominium in Oregon, check out the Oregon Revised Statutes, Chapter 100 – Condominiums