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Good news...another condo sold Wednesday per their Facebook page. Only 3 left.

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  • I talked to a resident there ~2 weeks ago who is friends with some of the management, he said the building is 53% occupied and 86% leased, the difference being the number of new leases they've signed

  • Current:   2013:  

  • sonisharri
    sonisharri

    Some more angles from today…

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Glad to see the townhomes going fast!!!

 

:clap:  :clap:  :clap:

Yikes, I see my half-asleep comment from my cell phone while on vacation created a little controversy.  I surely didn't mean anything racial or socioeconomic by my comment.  I actually don't even know what I meant, other than I had been in The Loop all day and was amazed at how many people with young kids (black and white) were walking around (and not tourists) and riding the L.  I think I especially had in my mind the picture of a few people rolling strollers right onto the L on one short trip, and picturing babies in a high rise apartment in downtown Cleveland just made me think of how different downtown Chicago felt.  I was probably overreacting, being on vacation and all.

Nah, people were just being oversensitive here.

Actually, I thought it was a very confusing comment when made, and was going to question it, but then thought better of it as I did not  want to get involved in all the ensuing drama.

Yeah, I thought it was confusing when I went back and reread it, haha.

  • 1 month later...

 

In the Nine-Telve District also, but it's down the street (or a stroll through the Galleria) from the Avenue Apts/Townhomes

Wasn't open the day of these pics, but "Winks" might be now...

 

DSCF6303.jpg

 

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They open on Wednesday.

Really glad they could keep the cool trees  :-)

  • 2 weeks later...

Another townhouse sold. Now only two remain...that's hopefully only two away from the start of a new project;)

^Do you mean "project" or "phase".  Isn't there still a significant number of lots to still build on around the existing townhomes. 

Incorrect phrasing...my bad.

My office crew got takeout from Winks the other night and the place was absolutely packed.  Perfect fit for the area, major need filled.

It was packed at lunch today as well.

Does anyone know how the Avenue District's doing renting out the apartments?

Their facebook says they're filling quickly...but they always say that haha.

I don't know the actual number of units that have been rented, but I know how many people own condos and where they live in the building, and there are A LOT more filled units than there used to be.  I'd say things are going pretty well, IMO.

Does anyone know how the Avenue District's doing renting out the apartments?

 

I can't speak for certain, but there seem to be more and more lights on each morning when i'm driving by... either balcony lights or room lights. So I take that as a good sign. Today driving out East, saw a few lights turn on in the penthouse, where unfinished drywall was apparent. Probably construction related, but none the less, it's a good sign that it's being fit-out.

Another townhouse sold today:)

  • 5 weeks later...

Doctabroccoli may be getting some more neighbors. I questioned them if there would be another phase once the last townhome sells and they responded: "Yes, stay tuned."

They have, in the past, drawn up two separate plans for townhomes along E. 15th.  I presume that's where they'd go next, but I don't know for sure as I haven't asked anyone.

 

Also, it was posted on the FB page a couple weeks back that the apartments are now 60% leased.  The stats were something like only 3 residents already lived downtown and the rest were from the suburbs or out of town.  I'm pretty happy with those numbers considering the rent is pretty pricey!  (I think the rent is in line with what you get - its just that not everyone can afford that!)

I would assume 15th as well since it seems that the utilities are already set up, and being that this is Cleveland, I don't see the parking lot going away anytime soon. That entire area would be so neat with more loft conversions and funky shops all around...one can dream.

Saw some activity buzzing around yesterday. Looked like they were installing drywall into the ground floor retail space.

 

Also, parked east 19th and walked down St. Clair for the first time, what a ghost town.

  • 8 months later...

Anyone know when phase 2 starts. I thought they recently sold the final townhouse.

Anyone know when phase 2 starts. I thought they recently sold the final townhouse.

 

We haven't heard anything official.  And yes, you are correct, all of the existing units have been sold and are now occupied.

After all that's happened, is there going to be a Phase 2?  Who would be the developer? 

 

And if so, where?  On Superior & E. 14th or in the St. Clair & E. 13th area?

There should be a 24-hr deli there on the corner---facing the corner (not internally) to support the Avenue...

I really hope they are able to continue with more phases eventually. I really like the design and the density of this project. It's so sad, driving past the condos to see the building still sits only halfway finished.

Anyone know when phase 2 starts. I thought they recently sold the final townhouse.

 

We haven't heard anything official.  And yes, you are correct, all of the existing units have been sold and are now occupied.

I made a random post on one of their comments on Facebook asking when they'd announce and they said something like...when they have something to announce haha.

  • 1 month later...

A linkedin contact of mine is Stan Bullard with Crains Cleveland.  He said the Crains Real Estate report is not out yet for this week, however it will contain some "cool Avenue District News".  Anyone have a clue as to what that may be?

^ Nothing earth shattering. It's an article talking about how condo and townhome sales have come back, and they reference the sellout of the Avenue this summer.

 

Condo and townhouse market climbs from the rubble

 

Northeast Ohio's poster child for townhouse and condominium recovery after the housing bust is a row of townhouses on Lindazzo Avenue near East 14th Street at the Avenue District development in downtown Cleveland.

 

 

Although unsold units in the nearby, 10-story Avenue Tower became rentals in a 2012 court settlement, the Avenue District's last four low-rise townhouses were sold this summer after languishing since 2007.

 

 

The final three-story townhouse fetched a hair below $300,000 even though it was a receiver-supervised sale by the lender and the Avenue's developer, Zaremba.

 

Lisa Saffle, Zaremba director of sales and marketing, said preliminary planning is under way for “additional residential housing on the empty lots around the Avenue townhomes.”

 

 

http://www.crainscleveland.com/article/20131028/RENEWSLETTER/310289999/1276/newsletter07

If they are not going to build the two other phases of the condo building, I sure hope that they do something with the 'facades' on both ends.

Lisa Saffle, Zaremba director of sales and marketing, said preliminary planning is under way for “additional residential housing on the empty lots around the Avenue townhomes.”

 

Hopefully Phase 2 becomes a reality on the townhouses.

Does anyone know how the 10 Story Tower is doing in its rental conversion?

 

Lisa Saffle, Zaremba director of sales and marketing, said preliminary planning is under way for “additional residential housing on the empty lots around the Avenue townhomes.”

 

Hopefully Phase 2 becomes a reality on the townhouses.

Does anyone know how the 10 Story Tower is doing in its rental conversion?

 

Last I heard, it was fully leased, or at least very close to being there.

To think how much more successfull this developement would have been on one of the PS lots.  Makes you wonder why we haven't seen that yet.  While it may be fully leased/sold, it did take 7 years. I just wish those home owners were on PS.

You want 2 story townhomes on PS?

Lisa Saffle, Zaremba director of sales and marketing, said preliminary planning is under way for “additional residential housing on the empty lots around the Avenue townhomes.”

 

Hopefully Phase 2 becomes a reality on the townhouses.

Does anyone know how the 10 Story Tower is doing in its rental conversion?

 

Last I heard, it was fully leased, or at least very close to being there.

 

Does anyone know if they plan on doing phase 2 of the condo tower as they planned

way back before the market crashed?

You want 2 story townhomes on PS?

No, not 2 story condos, but 57 apatments and 25 for sale units in a mixed use building would be a good start.

You want a new-build, low rise condo tower on PS?

Ugh, I think it's clear gotribe is referring to the AD "tower" which isn't townhouses and isn't low rise, even if it's not the mega tower most people would prefer to see on public square.  Anyway, that discussion isn't really going anywhere. 

 

Great to hear that new townhouses are in the works at the AD.  The more product types (loft vs lux multifam, vs townhouse) and tenure types (condo, fee simple, rental) the better it is for the overall downtown market.  Very interesting question what the future for the original AD footprint is. I could imagine the development demand for townhouses outstripping the demand for new build multifamily, but it's not clear how open the city would be to expanding the townhouse portion of the original plan.  Also not clear if Zaremba managed to hang onto his options for the additional sites or if they've expire or been voided by the default on the first tower.

You want a new-build, low rise condo tower on PS?

Ugh, no, I don't.  My point as stated above was, this project would have been more successfull on PS, and better for the city.  Overall, there is in the neighborhood of 75 units in the development as it exists today which was also planned as a mixed use structure with ground level retail.  I believe that component has not materialized to date.  I would much rather prefer that development, maybe not in the same form of structure exactly, on PS.  There is only so much demand for "for sale units" in the center city, and I would have rather seen the purchasers in the AD on PS. 

Ugh.  Sorry for the misunderstanding.  Ugh.

There's already residential on PS, as most of us know.  I'd much rather new housing stimulate a district of downtown about five blocks away and save PS for offices/commercial.  Sure wish another exciting project would be announced for that crummy parking lot space by the nw quadrant. :?

^What are we going on now?  Close to 25 years since the building was demolished on that PS lot, or maybe more?  That lot may be the most valuable piece of land in the State of Ohio- yet it still remains undeveloped.  We can point to a number of factors as to why it hasn't been built on yet- the office market, the owner, the economy (less of an excuse over 25 years), the business exodus to the suburbs, the way vacant lots are taxed in the center city, etc.  Until more national businesses begin to take downtown into consideration again, we may be stuck with that lot. 

 

Regarding AD, it would be great to see it fully developed.  The market is right- it's just the same proverbial problem; that the rents are still too low to justify new construction without subsidies (or we'd see more buildings popping up around downtown).  That doesn't make it impossible- just harder until most if not all of the old building stock is converted into residential.  I just hope we aren't stuck with an unfinished building for another 20 years on that lot.

  • 2 months later...

is there any news on phase 2 of the tower? i remember reading somewhere awhile ago that when all the units sell out the would start planning, then building.

is there any news on phase 2 of the tower? i remember reading somewhere awhile ago that when all the units sell out the would start planning, then building.

 

Which phase 2/tower?

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

is there any news on phase 2 of the tower? i remember reading somewhere awhile ago that when all the units sell out the would start planning, then building.

 

Which phase 2/tower?

 

i think he's referring to completing the tower.  The North wing and East wing of the building. 

Actually, I think he's confusing the tower with the town houses. There was recent talk of a next phase for the town houses. Not the tower.

is there an up to date site map of where this phase of new avenue townhouses will go? i take just south of the others, around where the sign is?

 

is there an up to date site map of where this phase of new avenue townhouses will go? i take just south of the others, around where the sign is?

 

Actually, I think according to the utility routing, the strip between E. 15th and the soon to be storage place was next up for building.  There has most recently been talk of apartment buildings on the Superior lots.  Last I heard, some drawings had been submitted to the city.

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