The Bce Center Parking Condominium

What The Bce Center Parking Condominium's governing documents say

The BCE Center Parking Condominium is a commercial parking garage structure in Phoenix, Arizona, owned by four corporate entities (each holding a condominium "unit" representing different parking levels/zones). This declaration establishes ownership, voting, space allocation, revenue sharing, and operating rules for the ~1,166 parking spaces. It binds corporate property owners and building operators, not individual residents—individual homeowners would never encounter this document.

• What you own & how voting works: You own a unit (a parking level or zone) containing a fixed number of parking spaces. Each owner votes in the association proportional to their completed standardized parking spaces—one vote per space. The board has 3 members elected by cumulative voting.
• Parking space allocation & leasing: Spaces are allocated to each unit owner. Unit Two B must formally "commit" spaces to use each month before accessing them. Owners can assign their spaces to other owners by recorded assignment, and can lease spaces to tenants/users via contractual commitments, so long as they don't exceed their allocated number in each category (reserved, unreserved, rooftop, visitor).
• Revenue ownership: Each owner keeps all revenue from parking fees charged for its own spaces. Visitor parking revenues are shared among Units One, Two A, and Three (but not Two B) proportional to each owner's use ratio. Unit Two B receives no visitor parking revenue.
• Common expenses & assessments: All owners share the cost of maintaining the common structure, utilities, insurance, and management, split proportional to their standardized parking spaces. The board assesses at least annually; payments are due within 10 days and bear interest at the greater of 18% per annum or 5% above the Federal Reserve rate if unpaid.
• Insurance & liability: The association carries all-risk property insurance, public liability ($2 million per occurrence for bodily injury, $1 million for property damage), and employer liability ($1 million). Insurance premiums are a common expense shared by all owners. Owners waive subrogation rights against each other for property-insured losses.
• Exclusive use & major changes: The facility must remain exclusively a commercial parking garage—no other use is permitted without unanimous owner approval. Terminating the condominium also requires unanimous approval. Materially reducing the number of spaces requires majority board approval plus the affected unit owner's consent.
• Tower III expansion rights & obligations: Unit Three's owner can construct up to 468 additional parking spaces or 2 additional floors at its own cost. The owner must reimburse other owners for reasonable costs incurred due to construction, repair any damage caused, and post a performance bond. Other owners cannot prevent the expansion.
• What this document doesn't cover: This is the foundational condominium declaration only—it does not include the association bylaws, current operating budget, specific assessment amounts, parking fee rates, tenant/user agreements, or detailed use rules. Those are in separate documents.

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.