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New Condo Development in Columbus Under Way

By Jeff Adolph

Residential Real Estate

Despite the declining economy there are some developers who are still forging ahead, and building affordable condominiums and units in metropolitan locations.

One developer, Jeff Edwards, is determined not to let the current economy persuade him to change his project plans. Edwards is currently building 'Neighborhood Launch', a project that consists of some 300 condominiums and townhouses, 47 of which are nearly completed.

27 of the 47 nearly completed units have been sold, with the major draw cards being the fact that the development has no elevators, is uniquely designed architecturally, and the property's attract a low interest rate and property-tax abatement.

The development, situated in downtown Columbus spans over several blocks, and unit prices start from as low as $200,000.

Edwards is confident that he will sell the majority of the condos and townhouses as they are built.

"For us to be at 70 percent of projection from three years ago is a home run today," Edwards told the Columbus Dispatch in a recent interview.

Article Source: Pramik, Mike (2009) Developer Doesn't Shy Away from Putting Up More Condos; available online at www.columbusdispatch.com

Image Source: www.columbusdispatch.com- Hinckly, Jeff (2009) Dispatch

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By Jeff Adolph

Residential Real Estate

Despite the declining economy there are some developers who are still forging ahead, and building affordable condominiums and units in metropolitan locations.

One developer, Jeff Edwards, is determined not to let the current economy persuade him to change his project plans. Edwards is currently building 'Neighborhood Launch', a project that consists of some 300 condominiums and townhouses, 47 of which are nearly completed.

27 of the 47 nearly completed units have been sold, with the major draw cards being the fact that the development has no elevators, is uniquely designed architecturally, and the property's attract a low interest rate and property-tax abatement.

The development, situated in downtown Columbus spans over several blocks, and unit prices start from as low as $200,000.

Edwards is confident that he will sell the majority of the condos and townhouses as they are built.

"For us to be at 70 percent of projection from three years ago is a home run today," Edwards told the Columbus Dispatch in a recent interview.

Article Source: Pramik, Mike (2009) Developer Doesn't Shy Away from Putting Up More Condos; available online at www.columbusdispatch.com

Image Source: www.columbusdispatch.com- Hinckly, Jeff (2009) Dispatch

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Around the Nation -- Residential Real Estate Update - Ohio

By Jeff Adolph

State-by-state

Situated in the Midwestern region of the U.S.A this state is a part of the Great Lakes and is ranked as the 7th largest by population with 11,353,140 people residing in this region.

This states economy relies heavily on machinery, tires, steel and rubber product production as well as other manufactured goods.

Income in this state ranges between .649-6.555%, and sales tax is set at 5.5%. Property tax in this state is assessed locally and collected by the counties at market value according to state legislation.

Ohio

Homes are typically sitting on the market for 60-120 days in this region with the median home sitting between $125,000 - $400,000 for the state. The market is said to be up by 5% and buyers are getting 95-100% of their asking price (Columbus Pictured).

Buyers are getting 95-100% of their asking price and the hottest valued market in this region is 'move-up buyers'.

LGBT Real Estate Facts: There are approximately 18,937 same-sex couples residing in Ohio making this region the 8th gayest state in America. The gayest zip codes in this locality are 44107 Lakewood, 43201, 43206, 43214 Columbus, and 44102 and 44118 Cleveland. -- gaydemographics.com

Main Story Source: House Hunt (2008) Real Estate Market Trends; available online at http://www.househunt.com

Picture Source: wikipedia.org

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New Gay Campground to Open in New London

By Jeff Adolph

Vacation and Recreational Real Estate

New London, Ohio will be the home to a new campground that will cater specifically to gay men.

The new park situated 40 miles southwest of Cleveland aptly called Freedom Valley was purchased by Michael Flkman and Jeff Boone in Novemeber of 2007, after the couple had considered several other properties in the area.

The 30-acre facility in need of TLC, came at a good price - $270,000 according to records - an opportunity that Folkman and Boone could not pass up.

'This one was ailing', said Boone, 'which made it attractive.'

This campground on private land will cater specifically to gay men only and is one of over 50 gay campgrounds in America, some of which cater to men and women, women only or men only. The other gay campground in Ohio is Circle JJ Ranch in Carroll County.

The campground boarders the Vermilion River on U.S 250 just south of Fitchville and its proposed new orientation has been received with mixed reactions. Some local residents oppose such a move while others are all in favor of the redevelopment.

Regardless of any controversy, the campground will open in April of 2008 and is taking holiday and seasonal bookings.

For a list of other gay campgrounds please visit http://gaycampers.com/campgrounds/us_list.htm

Real Estate Facts: Ohio is the 6th gayest state in America with 4% of its population being gay. The median housing unit price for Ohio is $103,600 with 4br homes hovering around the $160,000 - $180,000 price range. -- wikipedia.com.   

Main Story Source: Resnick, E (2008) Spark's Fly from the Campfire; available online at http://www.thegaypeopleschronicle.com

Picture Source: Microsoft Clipart Online and vermilion.com 

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Improvement Effort for the 2012 Columbus Bicentennial Includes Affordable Housing

By Jeff Adolph

Residential Real Estate

The residents of Columbus have actively been sharing their ideas for a billion-dollar-plus bicentennial clean-up effort that Mayor, Michael B. Coleman has called for.

Of the 10's of thousands of suggestions submitted, the most prominent will be voted on in November to decide on the improvements to be made.

Recycling, neighborhoods, diversity, green initiatives, cheaper housing and overall image improvement are amongst the most favorable at present.

Most residents want a cleaner more user friendly city that is affordable and has greater recreational facilities. The residents also want to see residential expansion outside of I-270 minimized and further renovation of existing housing encouraged.

If the residents wishes are fulfilled then Columbus may be looking mighty fine by 2012.

Real Estate Facts: Columbus had an estimated 733,203 residents in the 2006 census and was ranked as America's 15th largest city. Ohio as a state, has a gay population of 4% with an estimated 335,000 + gays residing here, and is ranked 6th nationally for LGBT popularity. -- Wikipedia.

Columbus represents a sound real estate investment in 2008, with Forbes.com and MoodyEconomy.com ranking the city as having the third most stable housing in the nation. There are approximately 16,000 homes on the market in Columbus representing a buyers market, and the median of this region is presently hovering around the mid to high 100's. -- Columbus Real Estate Insider. 

Source: Vitale, R (2008) 10,000 Desires Recorded for City; available on-line at www.columbusdispatch.com

Image Source: www.activerain.com and www.jra-architects.com

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By Jeff Adolph

Residential Real Estate

The residents of Columbus have actively been sharing their ideas for a billion-dollar-plus bicentennial clean-up effort that Mayor, Michael B. Coleman has called for.

Of the 10's of thousands of suggestions submitted, the most prominent will be voted on in November to decide on the improvements to be made.

Recycling, neighborhoods, diversity, green initiatives, cheaper housing and overall image improvement are amongst the most favorable at present.

Most residents want a cleaner more user friendly city that is affordable and has greater recreational facilities. The residents also want to see residential expansion outside of I-270 minimized and further renovation of existing housing encouraged.

If the residents wishes are fulfilled then Columbus may be looking mighty fine by 2012.

Real Estate Facts: Columbus had an estimated 733,203 residents in the 2006 census and was ranked as America's 15th largest city. Ohio as a state, has a gay population of 4% with an estimated 335,000 + gays residing here, and is ranked 6th nationally for LGBT popularity. -- Wikipedia.

Columbus represents a sound real estate investment in 2008, with Forbes.com and MoodyEconomy.com ranking the city as having the third most stable housing in the nation. There are approximately 16,000 homes on the market in Columbus representing a buyers market, and the median of this region is presently hovering around the mid to high 100's. -- Columbus Real Estate Insider. 

Source: Vitale, R (2008) 10,000 Desires Recorded for City; available on-line at www.columbusdispatch.com

Image Source: www.activerain.com and www.jra-architects.com

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By Jeff Adolph

Residential Real Estate

The residents of Columbus have actively been sharing their ideas for a billion-dollar-plus bicentennial clean-up effort that Mayor, Michael B. Coleman has called for.

Of the 10's of thousands of suggestions submitted, the most prominent will be voted on in November to decide on the improvements to be made.

Recycling, neighborhoods, diversity, green initiatives, cheaper housing and overall image improvement are amongst the most favorable at present.

Most residents want a cleaner more user friendly city that is affordable and has greater recreational facilities. The residents also want to see residential expansion outside of I-270 minimized and further renovation of existing housing encouraged.

If the residents wishes are fulfilled then Columbus may be looking mighty fine by 2012.

Image Source: www.activerain.com and www.jra-architects.com

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Columbus's Downtown a Challenge for Business

By Jeff Adolph

Commercial Challenges

The last Wendy's International situated in Downtown, Columbus at the Fifth Third Center, was closed recently.

The restaurant, which opened in the late 90's had declining sales said Wendy's spokesman Denny Lynch.

Lynch referred to the recent restaurant closure as indicative of Downtown, especially after the Columbus City Center Mall was forced to close.

However, Jeff Mathes, owner of Due Amici on Gay Street says business for him is the opposite, and believes that it is a case of the old real estate adage at work -- location, location, location.

www.columbusdispatch.com

The northern area of Statehouse is booming whereas the southern sector, where Wendy's International and the City Center were situated, is in an area that many refer to as a 'ghost town' and it is unknown whether the region will become a viable commercial precinct in the future.

While this part of the city may not be a viable business location, Gay Columbus, a website devoted to the city, describes the area as having 'one of the most vibrant gay communities in the country.' Additionally, the city is classed as 'one of the safest and friendliest cities for gay people to live and work in, with excellent anti-discrimination laws.'

Source: Curet, M (2007) Wendy's Throws in the Towel Downtown; available online at

Image Source: www.msnbc.msn.com and www.wenakron.com

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By Jeff Adolph

Commercial Challenges

The last Wendy's International situated in Downtown, Columbus at the Fifth Third Center, was closed recently.

The restaurant, which opened in the late 90's had declining sales said Wendy's spokesman Denny Lynch.

Lynch referred to the recent restaurant closure as indicative of Downtown, especially after the Columbus City Center Mall was forced to close.

However, Jeff Mathes, owner of Due Amici on Gay Street says business for him is the opposite, and believes that it is a case of the old real estate adage at work -- location, location, location.

www.columbusdispatch.com

The northern area of Statehouse is booming whereas the southern sector, where Wendy's International and the City Center were situated, is in an area that many refer to as a 'ghost town' and it is unknown whether the region will become a viable commercial precinct in the future.

While this part of the city may not be a viable business location, Gay Columbus, a website devoted to the city, describes the area as having 'one of the most vibrant gay communities in the country.' Additionally, the city is classed as 'one of the safest and friendliest cities for gay people to live and work in, with excellent anti-discrimination laws.'

Source: Curet, M (2007) Wendy's Throws in the Towel Downtown; available online at

Image Source: www.msnbc.msn.com and www.wenakron.com

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By Jeff Adolph

Commercial Challenges

The last Wendy's International situated in Downtown, Columbus at the Fifth Third Center, was closed recently.

The restaurant, which opened in the late 90's had declining sales said Wendy's spokesman Denny Lynch.

Lynch referred to the recent restaurant closure as indicative of Downtown, especially after the Columbus City Center Mall was forced to close.

However, Jeff Mathes, owner of Due Amici on Gay Street says business for him is the opposite, and believes that it is a case of the old real estate adage at work -- location, location, location.

www.columbusdispatch.com

The northern area of Statehouse is booming whereas the southern sector, where Wendy's International and the City Center were situated, is in an area that many refer to as a 'ghost town' and it is unknown whether the region will become a viable commercial precinct in the future.

While this part of the city may not be a viable business location, Gay Columbus, a website devoted to the city, describes the area as having 'one of the most vibrant gay communities in the country.' Additionally, the city is classed as 'one of the safest and friendliest cities for gay people to live and work in, with excellent anti-discrimination laws.'

Source: Curet, M (2007) Wendy's Throws in the Towel Downtown; available online at

Image Source: www.msnbc.msn.com and www.wenakron.com

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For Lease Signs Go Up On Many of Ohio Condo's

By Jeff Adolph

Renting Vs. Buying

Unsold Ohio condominiums are having 'for lease' signs erected, much to the dissatisfaction of owners who have paid full-price to purchase their properties.

A weak real estate climate has forced developers to offer the unsold condo's for lease, with the option to purchase at reduced rates.

Cumberland Chase (pictured above), a planned 60 town-house development next to Cumberland Trails golf course in Pataskala, only had 18 condo's completed. And, of these condo's only two have sold.

The condo's owned by MAS, a development company, are now being offered for lease with a purchase option. The original asking price of $200,000 has been slashed to $130,000, which has residents fuming.

"In two years, they have only sold two and now they're leasing," said condominium owner, Andy Ballog. "Who in their right mind would buy in a place where they're leasing?"

Carlyles Watch (unit pictured left), a downtown condominium complex is contemplating the same idea of leasing after selling only 25 of 54 units. 18 of these units were sold using conventional methodology while seven more sold last month at auction for heavily discounted prices.

Lyna Sauer, a Coldwell Banker agent, though it was innovative of builders to offer leases.

"I would view it as a smart thing to do until the market turns around, and they can sell them again," she said.

However, Sauer also warned her clients against buying a condo in a group that offered leasing as an option.

"That's not in their best interest. Tenants never take care of a place the way a home owner would, never to the home-owner's satisfaction."

The positive side to the present condo situation is that once the market evens out there could possibly be some great buys on offer.

Source: Gebolys, D and Pramik, M (2007) It's a Condo Conundrum; available online at http://www.columbusdispatch.com

Image Source: www.columbusdispatch.com

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New Condos an Excellent Buy

By Jeff Adolph

Investment Opportunities

Eight lucky buyers got what many refer to as 'great values' on condos that recently went to auction in the Caryles Watch building, located on 100E Gay St in Columbus.

Bids over $100k were offered on condos that were selling for between $205K and $450K originally. Urban Loft Ventures, the building owners needed to sell the remaining units to pay off creditors.

Slow to sell units numbered over 20 and the auction saw approximately 12 sold.

Real Estate agent Marylin Vutech said, 'There's still a stream of steady buyers but there's so much to choose from right now.'

The auction was said to have drawn a large crowd of some 500 people and it was estimated that the units sold for up to 50% off the original asking price.

Source: Rose, Marla M (2007); available online at http://www.columbusdispatch.com

Image Source: www.columbusretrometro.com 

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Gay St: Columbus - Renovations Continue

By Jeff Adolph

Residential Redevelopment

The cornerstone of renovated-Gay Street could become an office building that was recently purchased at auction for 1.5 million, by out-of-state investors.

The abandoned building, situated at 1 E. Gay St was once home to Modern Finance and Dollar Federal Savings Bank, and has been vacant for over 18 months after Modern Finance and WorldCom declared bankruptcy.

Principal Broker, Bob White, who is dealing with the buildings sale said, 'a father and two sons out of Atlanta' has bought the property.

'They're going to put a lot of money in it, without a question', White said.

Gay Street in Columbus, will undergo a $6.8 million city beautician effort and is a hive of activity with many new office-condo projects nearing completion.

Jeff Edwards, developer of a large 260 residence, townhouse complex, designed to create a village like atmosphere in Gay St believes the region is one of the most active at present.

"We think Gay Street is probably the most active and attractive true Downtown street right now', Edwards said.

And, this is only just the beginning...

Source: Pramik, M (2007) Gay St Building Sold at Auction available online at http://www.columbusdispatch.com

Image Source: www.columbusdispatch.com

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Have Your Say On the LGBT Political Front - August 19th 2007

By Jeff Adolph

LGBT Politics

In a national first, the Democrats are challenging the Republicans by staging a debate that is dedicated to the LGBT community and will answer many of the issues facing Lesbians, Gays, Bi-sexual's and the Transgendered across the nation.

The leading candidates for the Democratic  nomination for presidency will actively involve themselves in this debate on August the 9th, which is being telecast by LOGO, a gay cable network. Alternatively, you may view proceedings on http://www.logoonline.com/ if you are unable to access the network.

Participants in the debate will include Hilary Clinton, Barack Obama and John Edwards (pictured above), with the moderators being singer Melissa Etheridge and Joe Solmonese, Human Rights Campaign's president.

If you would like to actively participate by lodging questions for the candidates to answer you may do so by logging on to LOGOonline.com as well as on HRC.org.

Source: Demorcrats to Hold Gay Debate (2007) available online at www.wweek.com

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Columbus Set for Economic Growth with New Development

Landscaping and Gardening

Jeff Edwards, a real estate developer in the city of Columbus, recently bought nine blocks of parking with the vision of building some 260 condominiums and creating a unique neighborhood Downtown; a concept that is now coming to fruition.

Edwards' company estimates spending approximately $100 million to construct the condominium development and included in the project are several different styled townhouses and condominiums along with landscaped gardens and green belts.

The Columbus Economic Development Director, Boyce Safford III, is equally as excited about the Edwards' initiative, as he said, 'It is our little New York in the city of Columbus. It's going to become an exciting roadway.'

The development will be situated in the middle of Gay Street and is helping to transform the area, the

city council plans to spend $6.8 million to bring the areas sewerage, water and drainage systems up to date.

In order to market his condominiums Edwards has placed a three-story advertising sign that shows exactly 'how one of the condo buildings will look' when completed.

As Edwards said, 'we thought it made a lot more sense than putting up two sheets of plywood with the names of the bank, the engineer, the arcitects and the project on them.'

The condominiums are expected to sell between $140,000 to $650,000 and range in size from 600 square feet to 2,600 square feet.

The beauty of this development is that it represents value for money and a difference in design that is sure to delight. 

Sources and Images: Pramik, M (2007) A Different Approach; available online at http://www.columbusdispatch.com 

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Landscaping and Gardening

Jeff Edwards, a real estate developer in the city of Columbus, recently bought nine blocks of parking with the vision of building some 260 condominiums and creating a unique neighborhood Downtown; a concept that is now coming to fruition.

Edwards' company estimates spending approximately $100 million to construct the condominium development and included in the project are several different styled townhouses and condominiums along with landscaped gardens and green belts.

The Columbus Economic Development Director, Boyce Safford III, is equally as excited about the Edwards' initiative, as he said, 'It is our little New York in the city of Columbus. It's going to become an exciting roadway.'

The development will be situated in the middle of Gay Street and is helping to transform the area, the

In order to market his condominiums Edwards has placed a three-story advertising sign that shows exactly 'how one of the condo buildings will look' when completed.

As Edwards said, 'we thought it made a lot more sense than putting up two sheets of plywood with the names of the bank, the engineer, the arcitects and the project on them.'

The condominiums are expected to sell between $140,000 to $650,000 and range in size from 600 square feet to 2,600 square feet.

The beauty of this development is that it represents value for money and a difference in design that is sure to delight. 

Sources and Images: Pramik, M (2007) A Different Approach; available online at http://www.columbusdispatch.com 

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