Frequently Asked Questions
When will the residences be completed?
Tower One is expected to be completed Summer 2027.
Tower Five will follow approximately 6 months after Tower One is completed.
Is there a community reinvestment fee?
Yes. The community reinvestment fee is 1.25% and an additional 0.25% fee is paid to the Cormont HOA. Both of which the developer is covering on the original sale.
How much are the HOA dues and what do they cover?
The anticipated HOA dues for Cormont are expected to be between $12.00 and $14.00 per square foot. These fees will cover the following, but not limited to, building insurance, building/exterior repairs and maintenance, common area maintenance and cleaning, pest control, window washing, and common areas utilities. HOA dues will also pay for operations and maintenance of the Cormont amenities.
Are the residences being sold furnished?
Yes. Items that are not included are housewares (pots, pans, dishes, silverware, etc.) and linens.
Are rentals allowed?
Yes. Both short-term and long-term rentals are permitted.
Are pets allowed?
Yes. Pets are allowed for owners, with restrictions (normal household pets with weight restrictions to be determined at a later date).
Are BBQs allowed in outdoor spaces?
No.
Is there parking for residence owners?
Yes. Residents are guaranteed one parking space while in residence, but it will not be an assigned space.
Is there additional storage outside the units?
Yes. A 5’x5’ lockable storage area, located in the temperature-controlled underground garage, is included with each residence.
What is the sales process?
For the initial reservations phase, a $100k deposit will be required. The contract will be sent in mid-January and will require an initial Earnest Money deposit of 15% of the purchase price to be submitted within 3 business days of the contract date. Once the contract is sent to the Buyer, the Buyer’s Due Diligence time of 14 days will commence. Upon Completion of Due Diligence, the deposits will be deemed non-refundable.
In January 2026 an additional 10% deposit will be due. The remaining 75% balance of the purchase price will be due at Closing.
Inquire Today
Sheila Hall
SHall@dveastvillage.com
435-640-7162