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The John Gorrie a condominium Receives FHA Approval

April 8th, 2015 · Leave a Comment

The John Gorrie a condominium has received FHA approval

The John Gorrie a condominium, a historic landmark condominium in Riverside that is now more than 60 percent sold, has received Federal Housing Administration (FHA) approval, making it possible for qualified homebuyers to obtain low down payment, fixed-rate mortgages at competitive rates.

“We are thrilled to receive FHA approval for The John Gorrie,” said Delores Barr Weaver, owner of The John Gorrie a condominium. “Being FHA-approved allows more opportunities for prospective homebuyers to receive lower down payment rates and various other loan and insurance opportunities, and property values are increased.”

FHA is the most widely accepted mortgage option by commercial leaders, credit unions and private mortgage companies. Being FHA-approved verifies that the condominium association is financially stable through an independent audit of the association budget; is primarily comprised of owner-occupants rather than investors and renters; and that the construction of the buildings is in compliance with FHA standards.

“A condominium that is primarily owned by its residents typically experience more stable property values than investor-owned communities,” said Weaver. “The John Gorrie is truly an exceptional residence for families and individuals of all ages seeking unique charm in a thriving community. We are proud of the condominium and the community atmosphere it has developed and look forward to working with homebuyers through the FHA,” said Weaver.

Formerly The John Gorrie Junior High School, the building was designed by noted Jacksonville architects Roy A. Benjamin and Mellen C. Greeley and was constructed in 1923. The school’s ornate design reflects Mediterranean Revival architecture popular in the early 1920s and was listed in the National Register of Historic Places in 1987 before closing in 1997. Weaver began the meticulous restoration and renovation of the two buildings that housed the school, investing a substantial amount of her own time and money into the project. Today, The John Gorrie a condominium consists of 68 residences with luxurious contemporary amenities including 12-foot ceilings, expansive windows, stainless steel GE appliances, CaesarStone countertops and hardwood floors.

The John Gorrie offers one- and two-bedroom residences and two-story townhomes priced from the mid-$100,000s. Amenities include a custom fitness center, a private courtyard, elevators, private gated parking and a resident reading room with Wi-Fi Internet access. Residents are also in close proximity to the St. Johns River and a variety of beautiful parks, restaurants and boutiques. Owners at The John Gorrie a condominium receive an ad valorem tax abatement toward their homeowner’s tax bill through 2021.

For more information about how you can be part of The John Gorrie community, call (904) 383-3688 or visit www.TheJohnGorrie.com.

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