ABOUT COOPER SQUARE
Cooper Square Condominium is a 39-unit condominium community located at the corner of Old Durham Road and Cooper Street – across the street from the Blue Cross/Blue Shield building, just one block from US 15-501 in Chapel Hill, NC.
Cooper Square consists of three separate sections: Cooper Glen Place and Old Cooper Square on the east side of Cooper Street, and New Cooper Square on the west. The condos are divided as follows: Old Cooper Square (23 units); New Cooper Square (10 units); and Cooper Glen Place (6 units). New Cooper Square condos are one level, while the rest are 2-story units. Homes in New Cooper Square and Cooper Glen Place are duplexes, with Old Cooper Square having multiple units per building. The condos range from 926 to 1,207 square feet, with either two to three bedrooms per unit.
The community is led by a 5-person board of directors who are elected to one-year terms at the annual members’ meeting.
The board-members are currently working on a 10-year budget plan that forecasts the timeline of capital expenditures (paving, painting, roof replacement, etc.) and also predicts the amount of yearly dues. Once complete, the long-term budget will be posted on our “documents and forms” page.
A Working Capital fee equal to 2.5 months of dues is charged to the buyer at every closing. 2018 monthly dues are $198 and are due on the first of the month. A late fees of $20 is applied to all accounts if payments are not received by the last day of the month in which they are due. All monthly dues payments should be paid through the Owner Portal.
North Carolina Department of Transportation (NCDOT) will soon begin construction on Highway Project EB-4707A, which will include grading, paving, drainage, structural and traffic control improvements.
Part of the Old Cooper Square common areas along Old Durham Road, Cooper Street and Standish Drive are needed for the additional Right of Way and Easements, necessary to complete the project. Certain portions of the property will be taken through the eminent domain process by the NCDOT, however the association will be reimbursed for the minor amount of common area that will be lost to the project. The affected units are 111, 1113, 115, 117, 119, 121, 123 and 125 Old Cooper Square.
To view plans, maps and other documents associated with the project, look in the Highway Project EB-4707A section under the DOCUMENTS & FORMS tab. New documents will be added as they are received and updates will be sent to owners as they are received.
The board of directors has hired the Law Offices of F. Bryan Brice to represent the association’s interests, and Scott Radway, of Radway Design, who is further analyzing the impact that the project will have upon the community and it’s residents.
WATER USAGE…the association continues to see increases in water usage and costs as a result of unnoticed leaky toilets and/or faucets inside owners’ condos. It is imperative that residents instantly report water leaks to their landlord and that the owners make immediate repairs. Usually, such repairs are inexpensive to make, but left unchecked, wasted water and associated costs can have a significant negative affect on the association’s finances. Currently, the association is investigating the costs of “sub-metering” all of the condos so that water and sewer costs are billed directly to each owner. The result would likely be a significant decrease in monthly dues.