Blog with news about the Cleveland OH high-rise condominium and loft market.
There are currently 75 blog entries related to this category.
Wednesday, January 23rd, 2008 at 4:34am. 0 Comments.
I was privileged to be taken on a tour of the latest improvements to Battery Park yesterday. Most people don’t even know what’s going on over there on 73rd Street just north of Detroit but with 32 units closing last year, it is obvious that they found something special in the small city by the lake.
For those of you who are unfamiliar with Battery Park it is a Vintage Development Group project that began in 2005. Vintage Group Development has close ties to Marous Bros. Construction and a reputation for putting together a quality product.
This 13acre community sits between Detroit and the West Shoreway overlooking Edgewater Park. Its first few phases have been completed offering attached townhomes and stand alone single family homes…
Wednesday, January 16th, 2008 at 7:43pm. 0 Comments.
Thank goodness the Ameritrust Complex was purchased by a company that has a reputation for not just talking but doing.
You might know The K&D Group from their many projects including Reserve Square Apartments and Embassy Suites but I am most impressed by the company’s west bank development. Stonebridge Apartments, Towers, Plaza, and Square make up the first few phases of what will eventually be a self sustaining community and anchor for this city.
Unlike some developers, K&D seems to be vested in the City of Cleveland and its future. Typically, when the company unveils a new project, it is not long before you see the cranes start to swing.
According to Doug Price, CEO of K&D, the company’s purchase of the vacant…
Sunday, January 13th, 2008 at 6:52pm. 0 Comments.
Cleveland Mayor Frank Jackson took aim at Wall Street on Thursday with a lawsuit against 21 major investment banks that he said have enabled the subprime lending and foreclosure crisis here.
The one-of-a-kind suit, filed in Cuyahoga County Common Pleas Court, accuses venerable institutions such as Deutsche Bank, Goldman Sachs, Merrill Lynch and Wells Fargo of creating a public nuisance.
Jackson contends the companies irresponsibly bought and sold high-interest home loans. The result: widespread defaults that depleted the city's tax base and left entire neighborhoods in ruins.
City officials hope to recover hundreds of millions of dollars in damages, including lost taxes from devalued property and money spent demolishing and boarding up…
Sunday, December 23rd, 2007 at 4:23am. 0 Comments.
Yesterday, President Bush signed H.R. 3648, The Mortgage Forgiveness Act of 2007, into law, sparing homeowners the tax burden associated with canceled mortgage debt.
Prior to this action, forgiven mortgage debt due to foreclosure, short sale, or deed in lieu of foreclosure, was considered taxable income. The new law, however, temporarily waives these taxes for debts forgiven (as high as 35%) from the beginning of 2007 to the end of 2009. The bill also extends the tax deduction for mortgage insurance premiums through 2014.
"This is going to make a happy holiday for many homeowners," President Bush said yesterday before signing the bill in to law. During the press conference he added the following:
"When you're worried about making your payments,…
Friday, December 21st, 2007 at 10:26pm. 1 Comments.
It appears that although for most of the decade University Circle’s big business has been booming with construction (to the tune of about $2billion), it’s surrounding areas have been struggling to survive.
According to the Plain Dealer neighborhoods such as Hough, Fairfax, Glenville and Buckeye-Shaker, areas that are right down the street from the constant noise of Cleveland Clinic construction, have been devastated by blight, vacancy and foreclosure for some time now.
Fortunately, it appears someone is planning to actually DO something about it instead of simply TALKING about what should be done.
The strategy has been dubbed The Greater University Circle Initiative. It’s goals include taking steps to change this unfortunate…
Friday, December 7th, 2007 at 7:14pm. 0 Comments.
With low temperatures come low rates. 30 Year fixed rates are hovering around 5.875%-6.0% No Points! The drop in rates is in anticipation of yet another fed rate reduction next week.
See the "getting pre-approved" section on the home page for Sean Hadley of Heritage Mortgage Services info. I'm sure he would be happy to discuss your options if you would like to learn more about how this all works and how it can apply to you. Just make sure you tell him that you were referred by Highrises.com!
Friday, December 7th, 2007 at 3:40am. 0 Comments.
It is a common misconception that the real estate market begins and ends with the weather. Sure, it may slow a bit if you are looking at total volume but what people fail to realize is desperate times for sellers provide awesome opportunities for buyers.
This reality is often discussed among real estate professionals but I feel like it isn’t driven home to the general public. It is true, some sellers have the luxury of waiting until the spring to list their property or are able to take it temporarily off the market when the weather begins to get cold. This is absolutely not true, however, for a great number of sellers, who for one reason or another, need to sell ASAP. As they begin to face the possibility of having their listing sit over the…
Wednesday, December 5th, 2007 at 6:01am. 1 Comments.
F.Y.I. Its been a while since I showed the Glenturret Condos in Cleveland Heights but I continue grow in favor of them every time I do.
According to management, this quaint condo community is primarily owned/occupied by residents, doctors and nurses working and going to school close by. It seems very peaceful and is accented by a magical courtyard boasting vine covered Juliet balconies which look down onto the pergola centerpiece.
The best part is the location. Close to University Circle, Little Italy and Cedar-Fairmount, owners can walk or ride their bike virtually anywhere.
I believe there are only a few left so if this sounds like you, I would jump on it!
The condos have been converted from apartments…
Friday, November 30th, 2007 at 4:57am. 0 Comments.
If you are wondering what that skeleton of a building is around St. Clair and E. 12th, let me help you out. That is the beginnings of the next phase of the much anticipated The Avenue District. Two townhouses are left from the 1st phase and ready for the final touches prior to taking possession.
The next phase seems to be pre-selling at an alarming rate and will feature townhomes, lofts, and penthouses starting in the mid 300 thousands. Possession for these units are still about 6-8 months out but the investment potential is high. Prices are still at pre-sale levels and have not yet increased.
The vision for this project comes from Zaramba who has brought us recent developments such as Woodhaven and Millcreek. They received a 15…
Tuesday, November 27th, 2007 at 5:20pm. 0 Comments.
There has been a great many inquiries lately regarding the Walker Weeks Building and why people can't get in to look at condo space. I thought I would shed some light on the situation.
At this point, the project has been put on hold, according to Amy L. Sheeler, the listing agent for the condominium project. According to Amy, the developers of the project are re-evaluating which direction they want to move forward and have taken condos off the market until that decision is made.
Stay tuned to my blog in the future and I promise to keep everyone up to date as information becomes available.
If you are not familiar with the Walker Weeks condominium project, it involves the conversion of one of Cleveland’s most historic buildings…