Northchase

What Northchase's governing documents say

Northchase Parkway Condominium is a commercial-use condominium in Wilmington, NC — you own a unit within a building and share ownership of common elements. The community is restricted to commercial use (not residential), and all units, owners, tenants, and guests must follow the declaration, bylaws, and rules. The developer retains special rights to add up to 50 units, control the board during a defined period, and amend certain documents.

• Use restrictions: Each unit is restricted to commercial use as allowed by New Hanover County or Wilmington zoning. No residential use is permitted.
• Leasing & rentals: Leases must be for a term of at least six months and in writing. Tenants must comply with all condominium documents, and the association can enforce rules directly against tenants after notifying the owner.
• What you own & maintain: You own the interior of your unit (including HVAC systems that serve only your unit, even if located outside unit boundaries). The association maintains, repairs, and replaces all common elements, including exterior surfaces, roofs, and structural components. Limited common elements (e.g., exterior doors, windows, stoops) are maintained by the association but costs may be assessed to the benefiting unit(s).
• Alterations & improvements: No structural additions or changes to the exterior appearance are allowed without prior written board approval. Interior alterations that do not impair structural integrity or mechanical systems are permitted. Requests for approval must be answered within 60 days.
• Assessments & fees: Common expenses are assessed based on each unit's allocated interest (percentage of total heated/cooled floor area). Assessments are due quarterly (or as set by the board) and payable by the 10th of the month. Unpaid assessments accrue 12% annual interest and become a lien after 30 days. Initial purchasers pay three months' dues as working capital.
• Insurance: The association carries property insurance on all buildings (replacement cost) and liability insurance of at least $1,000,000. Unit owners are responsible for their own interior items, HVAC, and certain glass breakage deductibles. Water damage from plumbing failures is the unit owner's responsibility.
• Developer rights & phasing: The developer (Carolina Coast Holdings, LLC) retains rights to add up to 50 units, withdraw land, and control the board until the earlier of 10 years, sale of 75% of units, or two years after last unit sale. During this period, the developer can appoint/remove board members and amend bylaws without owner vote.
• Signage: Only letter signage of approved size may be affixed to the exterior door serving each unit. No exterior signs without board written consent. For-sale signs (max 3x3) may be placed inside the front window.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.