Cleveland Development Discussions (premium, election, should)

[dr_j_planning]

Folks, my sincere apologies. Apparently some of the totals did not add correctly when I performed my sort in Excel. Here is a revised table for all 2016-2019 high-end sales in Cleveland:

2016-2019
NEIGHBORHOOD # %
Detroit Shoreway 188 29.3%
Ohio City/Duck Island 132 20.6%
Tremont 132 20.6%
Downtown/Flats 69 10.7%
University Circle/Little Italy 57 8.9%
Clifton/Edgewater 35 5.5%
Shaker Square 15 2.3%
West Park 10 1.6%
Glenville 1 0.2%
Midtown 1 0.2%
North Collinwood 1 0.2%
Old Brooklyn/South Hills 1 0.2%
TOTAL 642

The total number did not change, but there was some shift within individual neighborhoods. As you can see, more than 80% of all high-end transactions occurred Downtown and Near West Side.

Again, I am sorry for this error. I am happy to answer any questions.

Thank you!

DR J

Originally Posted by dr_j_planning

Folks, I have compiled four years (2016-2019) of high-end (+$300,000) residential real estate transactions for the City of Cleveland. The results show a rapidly growing number of such sales concentrated in a very small number of neighborhoods. Below I provide the breakdown for each year and the total for the four-year study period.

HIGHLIGHTS
The total number of sales increased from 92 (2016) to 257 (2019), largely driven by increases in Detroit Shoreway from 17 (2016) to 96 (2019) and Ohio City/Duck Island from 17 (2016) to 53 (2019). Only seven city neighborhoods accounted for at least 1% of all high-end sales each and just three neighborhoods on the Near West Side (Detroit Shoreway, Ohio City/Duck Island and Tremont) accounted for more than two-thirds of all high-end sales during the study period.

2016
Clifton/Edgewater 2
Detroit Shoreway 17
Downtown/Flats 13
Ohio City/Duck Island 17
Shaker Square 3
Tremont 24
University Circle/Little Italy 13
West Park 3
TOTAL 92

2017
Clifton/Edgewater 4
Detroit Shoreway 21
Downtown/Flats 17
Ohio City/Duck Island 18
Shaker Square 4
Tremont 40
University Circle/Little Italy 12
West Park 2
TOTAL 118

2018
Clifton/Edgewater 14
Detroit Shoreway 54
Downtown/Flats 19
Glenville 1
Ohio City/Duck Island 44
Shaker Square 5
Tremont 24
University Circle/Little Italy 10
West Park 4
TOTAL 175

2019
Clifton/Edgewater 15
Detroit Shoreway 96
Downtown/Flats 20
Midtown 1
North Collinwood 1
Ohio City/Duck Island 53
Old Brooklyn/South Hills 1
Shaker Square 3
Tremont 44
University Circle/Little Italy 22
West Park 1
TOTAL 257

2016-2019
NEIGHBORHOOD # %
Detroit Shoreway 177 27.6%
Tremont 130 20.2%
Ohio City/Duck Island 127 19.8%
Downtown/Flats 69 10.7%
University Circle/Little Italy 56 8.7%
Clifton/Edgewater 34 5.3%
Shaker Square 14 2.2%
Glenville 1 0.2%
Midtown 1 0.2%
North Collinwood 1 0.2%
Old Brooklyn/South Hills 1 0.2%
West Park 1 0.2%
TOTAL 642

All residential transaction information came from the Cuyahoga County Fiscal Officer Real Property Database.

Please contact me with questions.

DR J

[usaf_1832]

^ thanks again for doing that. Great stuff.

In other news, an 88-unit apartment building coming to Larchmere neighborhood:

https://forum.urbanohio.com/applicat...5c4ba708a773a8

https://www.cleveland.com/community/...outputType=amp

[1watertiger]

A picture from urban Ohio of two of the parking lots where Sherwin-Williams is likely to build their headquarters.

https://forum.urbanohio.com/uploads/...547df8be2.jpeg

[teacherdad]

My condo building is just to the left of the first lot... St. Clair. Fingers crossed it might go up in value. Bought it 2 years ago for 145K- 2 bd 2 bath. It has gone up a little, but this might make it even more desirable. There is a top floor unit for sale that I'd LOVE to get (rooftop deck), but not in reach unless I sell the condo and home in Bay. Oh well. I'll wait and see how it all plays out. This area around 6th and 9th should really pick up in business.

[216facts]

Originally Posted by teacherdad

My condo building is just to the left of the first lot... St. Clair. Fingers crossed it might go up in value. Bought it 2 years ago for 145K- 2 bd 2 bath. It has gone up a little, but this might make it even more desirable. There is a top floor unit for sale that I'd LOVE to get (rooftop deck), but not in reach unless I sell the condo and home in Bay. Oh well. I'll wait and see how it all plays out. This area around 6th and 9th should really pick up in business.

You got a condo for $145k downtown? I thought they were all in the 200s at the low end. Hmmm, always wanted to live downtown.

[teacherdad]

Look up 408 St Clair. It's not one of the newer buildings. No parking. No gym. Some units are really nice. I got lucky that the week I was there, the owner reduced from 185 to 155 and then I offered 145k. Something like that.

There are some in the building that are nice and below 200K.

[andrew61]

Originally Posted by teacherdad

Look up 408 St Clair. It's not one of the newer buildings. No parking. No gym. Some units are really nice. I got lucky that the week I was there, the owner reduced from 185 to 155 and then I offered 145k. Something like that.

There are some in the building that are nice and below 200K.

That's the old City Mission building! I've been inside it. Back in the '70s when I was a teenager, our Pastor used to preach there about once a month or so. I'd sometimes go along and play piano for the hymn sing.

[kpl1228]

Originally Posted by teacherdad

Look up 408 St Clair. It's not one of the newer buildings. No parking. No gym. Some units are really nice. I got lucky that the week I was there, the owner reduced from 185 to 155 and then I offered 145k. Something like that.

There are some in the building that are nice and below 200K.

Is there an Arcade still in the "Grand Arcade?"

[1watertiger]

The new Beacon apartment tower completed this past summer. Picture from urban Ohio


https://forum.urbanohio.com/uploads/...9830b90be0.jpg

[TheProf]

Originally Posted by 1watertiger

The new Beacon apartment tower completed this past summer. Picture from urban Ohio


https://forum.urbanohio.com/uploads/...9830b90be0.jpg

Nice! Love the gold strip lighting, esp at mid-level... Very sexy.