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 but you can already tell that a neighborhood type atmosphere is beginning to manifest. As you watch the residents walking their dogs along the quiet scenic streets you can’t help but envision what the powerhouse in the main park will be like once it is converted into a community center.
With access to National City’s NCHAMP loan program and tax abatements available, it is obvious why home owner are flocking to Battery Park but what is even more interesting is the recent influx of business into the district. Redd Stone Restaurant has recently found a home right on 76th street. You only need to travel two blocks to find trendy new establishments such as Gypsy Beans, Snickers, and coming soon Stone Mad Pub & Restaurant.
Together with the fact that the Shoreway is set to be converted into a boulevard with direct beach access by 2011, and the undeniable momentum of the Theater District and steady flow of business to The Detroit Shoreway, if your looking for an investment in Cleveland with a huge upside, I think you might want to check Battery Park out for yourself.