Noticed that some of the brick facades were going up on the first townhouses when I walked by on Saturday.

Found this today on the Avenue District blog (http://www.avenuedistrict.blogspot.com/).

 

In addition, grading work has begun on the second townhome building, future site of the next 10 units at Rockwell Avenue and the newly created East 15th Street in downtown Cleveland.

 

I'll assume that means that sales are still going well.

I'm pretty sure the second set of townhomes were always part of this phase, as were a set of homes along the eastern border of the site (http://www.urbanohio.com/forum2/index.php?topic=2525.msg125846#msg125846). So I anticipate these are moving forward regardless of the current levels of sales, as they already hit their pre-sell requirements.

According to the website, 14 of the 30 townhomes are already sold.

 

28 lofts are already sold.

very good to hear they are selling what i assume is well.

With the Fed dropping the interest rate, we should see an uptick in housing sales.  Regardless, these new construction projects often have ridiculously low financing packages for buyers, so demand for these should be stronger than your average home on the market.  Plus, they're kick ass!

With the Fed dropping the interest rate, we should see an uptick in housing sales.  Regardless, these new construction projects often have ridiculously low financing packages for buyers, so demand for these should be stronger than your average home on the market.  Plus, they're kick ass!

 

i really like this project as well.  falling interest rates may help sales, but the newer properties downtown all seem to have a 1.5% below market financing offered by the bank that financed the project, so in some cases the rates are already around 4.75%, which is a steal.

 

imo, the bigger problem is the price point.  i don't question if these units (the lofts or townhouses) are worth their price, as they appear well built, lots of features, etc.

 

but, the entry points into all of these phases just really seems to limit the market.  for instance, there are only 2 floorplans for townhouses that are less than 300k, the rest appear above 350,000.  there are only 4 condos under 300k. 

 

i'm sure with their marketing of bringing back people from the suburbs, the price point doesn't really matter that much (unless people need to sell their houses first).  i just wish there were some projects in the pipeline for more units around 225 or 250, for a decent amount of space, say 1400 sq. ft.

That is a good point about purchase contingent upon the buyer's current home selling.  I often forget that there are two sides to the equation.  There still has to be demand for the prior unit or the buyer won't be able to complete the purchase of the new one.  This, of course, doesn't factor in for renters who are now buying or for migrants from other locations who are moving regardless of the sale of their old home.

Anything worthy of taking new pics on the site?  The construction cam ain't so clear

From Sept. 13th:

 

Nice picture MayDay... CLEAR and VIBRANT!  I agree with punch... the webcam is not so clear.  Like your camera shots much better.  Thanks.

Thanks Mayday!

Both sites are in exciting stages right now, but I'm more interested these days in popping by the townhomes to see how their exteriors are shaping up... anyone been by this week?

^ I drove by last night ... it was dark, but I did see that the brick work was going up on bottom of the eastern townhome. Last week, I saw some work being done on the Rockwell side of the western townhomes. It seems to be shaping up pretty quickly.

the more brick, the better, if you ask me!

^ I drove by last night ... it was dark, but I did see that the brick work was going up on bottom of the eastern townhome. Last week, I saw some work being done on the Rockwell side of the western townhomes. It seems to be shaping up pretty quickly.

 

 

Wait, wait, wait wait...

 

You drove?!?

 

 

I was coming from Detroit Shoreway and carrying mac and cheese at 9 p.m. ... wasn't feeling the bike  :-)

I was over in the area today and noticed a couple of things:

 

The Reserve Square Market has finished its expansion out to East 13th St.  They are still moving some stuff around and finishing some interior work, but it is far enough along to see the new setup.  The grocerys themselves will now fill the entire old space.  The new space opened up along East 13th will be the check out area and an area for eating carry out foods.  It was reported to be 30,000 sq ft, which would be bigger than say OC Dave's, but it actually feels a bit smaller, maybe because alot of the space is given over to the cafe area.

 

Also some work appears to have begun on the renovation of the Parkview Apts, originally known as the Allerton Hotel.  DAS has put up a construction sign in the first floor windows, and it looks like some of the interior is being gutted.

Nice!

Best sign in Chicago:

"Allerton Hotel, Tip Top Tap"

 

^ oh yeah. meanwhile, the ny allerton is just up the street from me in chelsea. it's like an sro no-tel and has been home to a few murders in recent years. they keep talking about gentrifying it, but i dk what is up with that.

^^^Yeah, good to see the E. 13th entrance for the market. Unfortunately, the new space seems underutilized -- it's just check-outs, a salad bar and some cafe tables. They didn't add any room for additional grocery merchandise or remodel any of the rest of the market, which could really use an overhaul. Still, progress.

Best sign in Chicago:

"Allerton Hotel, Tip Top Tap"

 

 

Don't give me any "back on topic" crap folks, I'm taking a photo at lunch today  :-P

 

 

Alright, today's a trifecta:

 

Townhomes:

 

1211 St. Clair building:

 

Detail:

Wow. Sure can't complain about the progress of this development. Thanks for the update.

To think you risked getting hit by a car just to provide us this visual treat.

Thanks - you're the best HBIC in the world. :-D

^That wasn't me, that was the pope - re-read the post, someone gave you de-caf ;-)

 

But yes, I'll take the best HBIC title with honor :-D

That's what I get for too much multi tasking.

OU

Photoshop

Lunch

Answering phones.

Email

blah, blah

I'm sorry, but you clearly stole this photo from Thomas J. Unik, I'm telling the copyright people.

 

 

Holy residences!

what an awesome sight/site!

Where are the townhomes exactly?  Is it visible from St. Clair?  Does this project somewhat bring downtown together instead of its current fragmented state?  I am very excited because this is the type of project that can help downtown to stay vibrant after 6:00 with people walking and jogging in the neighborhood?  Are there any rumors as far as retailers on the bottom levels?

The townhomes are between e. 13 and e. 17 and between Superior and Rockwell.

Is that near the Greyhound station?

I live in Reserve Square and from my 7th floor vantage point, I track the progrss of these 2 projects almost daily.  The progress is astounding.  When i leave for work around 7am every morning, they are already hard at work. 

 

I have to say though, I'm not sure how these projects fit into the overall framework of the city, especially in the "Avenue District".  As of riht now, they feel miscast and out of place among high rise apartments, skyscrapers, dilapidated old brick structures, and surface lots.

 

I guess I will reserve further judgement until everything is completed.

Is that near the Greyhound station?

 

About a block north of the station.

also i am very surprised at the occupany rate, given the location...tax breaks, lower interest rates sure go a long way....

 

just my 2cents

 

by the way the market in reserve square is almost complete...while still smaller than say a conventional giant eagle, it appears they will have a bit more to offer John Q Public.

also i am very surprised at the occupany rate, given the location...tax breaks, lower interest rates sure go a long way....

 

Surprised that it was sold so well or surprised that it hasn't sold more? Or are you talking about something other than the Avenue District (there are no occupancy rates yet because it hasn't been built yet)?

I also agree about the scale. The townhomes feel very out of place. Thank God they are selling well.

I think they will look less out of place once the block fills in some more.

The townhouses don't look out of scale to me.

sorry I meant to say i am surprised by the initial rate of sale...someone had mentioned that the townhouses were close to half sold alrready...

 

it looks like someone grabbed a nice condo cluster from solon and dropped it into a section 8 projects area, which is EXACTLY what they did!  Economically, it is great to see this, don't get me wrong, but it does not fit in with the surroundings at all...i'm surprised no one has brought this up

 

stonebridge/pesht/even early indications of Wolstein's plans, granted all ar emuch larger in scale, but all do a much better job of integrating and blending with their surroundings

We can debate design until we're old and gray, but I think the townhouses look great for their urban surroundings. And I have yet to see a building that looks like it in Solon.

there are townhouse rows weaved in amongst the downtowns of all big cities. i dont have any problems with that. now is it thee very ultimate best use of downtown space? no, but its so much better than dilapidation or a surface lot.

 

i think at the moment zaremba has the right mix of townhomes and apts with this project.

 

the more people that live in the downtown neighborhoods the better.

hopefully when it is all said and done..it will look better...i think the one thing missing that would make everything come together is density

.

what is public square but one big suburban cul de sac?!

that is one ugly ass house!

Haha! Youse guyz got BOTP'ed!!