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FOR IMMEDIATE RELEASE CONTACT: Genna Petrolla June 14, 2007 Marketing Director 216/619-9696 DETROIT SUPERIOR LOFTS PROJECT WILL BRING NEW FOR-SALE CONDOMINIUMS TO OHIO CITY Condominiums Offer Stunning Lake and Downtown Views from Upper Floors Cleveland, Ohio, June 14th, 2007 – Developers announced that a new seven-story condominium building will be built at the southwest corner of Detroit Avenue and West 28th St. This new structure will add to the revitalization of the Ohio City neighborhood, already a success story for residential redevelopment. “We are excited about the Detroit Superior Lofts project, which will place 50+ condominiums at the gateway to Ohio City and downtown Cleveland,” said developer Tom Gillespie. “This project takes advantage of the momentum created by other condo developments in both downtown and Ohio City.” The Detroit Superior Lofts project is a seven-story building being developed by Tom Gillespie of TEG Properties, Inc. The design is being completed by Lowenstein-Durante Architects. Progressive Urban Real Estate will handle sales and marketing coordination. The development site is adjacent to the former Painters Union building, which is being redeveloped into market-rate apartments by Gillespie, as well as several nightclubs and refurbished apartment buildings. The site is close to the West Side Market and the Fries and Schuele Condominiums, and one block away from the Detroit-Superior Viaduct and the highly successful Stonebridge project. “The Detroit Superior Lofts project fills a gap in the streetscape of Detroit Avenue, and also a gap in the marketplace,” said Keith Brown, President of Progressive Urban Real Estate. “There is a great deal of demand for loft-style condos in Ohio City, and not enough products to satisfy that demand. We are excited about this project – it will change the face of Detroit Avenue.” Project amenities include one and two bedroom lofts, as well as two-story townhome units, with first-floor parking. The first level also contains a lobby and retail space that will complement existing neighborhood retail. Unit amenities include private balconies on every unit, a common, 10,000 square foot, green roof garden over the garage, steel and concrete construction, and modern finishes. Interior features include open floor plans, nine foot ceiling heights, hardwood floors, granite kitchen countertops, and wood cabinetry. Unit owners will also receive 15 year 100% tax abatement, and 1.5% reduced rate financing from Key Bank. Prices for the units start at $150,000 and extend into the mid $400’s. For more information about Progressive Urban Real Estate, Northeast Ohio’s premier sales company for contemporary urban living, as well as the Detroit-Superior Lofts project contact Genna Petrolla, Marketing Director at 216/619-9696 or [email protected].