Council approves condos, parking for Short North

February 18th, 2007
Tuesday, February 13, 2007
THE COLUMBUS DISPATCH

It’s what those who work in and visit the Short North have wanted: 250 public parking spaces to ease the crunch.

Columbus City Council approved a new tax-incrementfinancing agreement last night that will help pay for a new $14 million parking garage in the area. It will be built as part of a 10-story, 179-unit condominium project at the northeast corner of N. High Street and E. Hubbard Avenue. The garage will be built across Pearl Alley from the condominiums.

Town houses will be built along Hubbard to shield the garage.

A 2005 study showed a need for 500 parking spaces in the Short North, an area filled with shops, bars and restaurants.

“This is absolutely our No. 1 challenge,” said John Angelo, director of the Short North Business Association.

The developers approached the community, saying they wanted to do the project to help the community, he said.

Arms Properties plans to build the garage as part of its condominium development, which Columbus Development Director Mark Barbash said will cost $68 million and include 30,000 square feet of commercial space.

Council member Maryellen O’Shaughnessy held a hearing on valet parking last week in which people complained that valets took spaces that Short North visitors should get.

“There’s a tremendous amount of parking pressure,” O’Shaughnessy said.

Stan Sells, of the Friends of Goodale Park, said he hopes the public uses the garage. But he wonders whether they will, because it’s not as close to many Short North destinations as he thinks some visitors would like.

He wonders whether some public shuttle could be set up to ferry visitors from the garage down High Street.

The three-story garage will have two underground levels, Angelo said. Columbus Economic Development Administrator Bill Webster said there will be 500 parking spaces, with 250 reserved for the public. The other half will be for condominium residents.

Angelo said the developers have listened to concerns about the garage’s appearance, and said he thinks the town houses will help camouflage it.

The condominiums and parking garage should be finished by the end of 2008.

The city will continue to work on creating another 250 public parking spaces in the area, Webster said.

In other business, the City Council agreed to contribute $1.25 million to the Columbus-Franklin County Finance Authority, which was formed last year to help finance economicdevelopment deals.

Franklin County already has agreed to contribute $1.25 million to the fund. With other money sources, the fund should grow to $10 million, which officials hope will leverage $50 million in financing.

Also, Steve Tugend, the Columbus Area Chamber of Commerce vice president of governmental relations, told council that those interested in applying for jobs at the expanding Defense Financing and Accounting Service Center in Whitehall should go to the Web site www.dfascolumbusjobs.com.

Truly a Buyer’s Market

February 13th, 2007

You read it in the headlines.  You hear it on the news.  Forecasters say the housing market is slowing, but still there are many homeowners that either want or need to sell there home. 

With the increased inventory levels and competition between sellers there has never been such a supply of quality homes in good areas and at good prices.  Not only do sellers have to have their homes in tip top shape, they have to offer something more to the buyer to gain their interest.  It’s not uncommon to see purchase offers coming in $10K or $20K below the list price with lots of contingencies protecting the buyer, and even asking for the seller to pay for closing costs.  Two years ago a seller would have laughed at an offer like this, but today they will do what it takes to put a deal together for a ready,willing and able buyer.

Here are some tips, to help you negotiate the best possible terms and conditions:

1)Try to determine the seller’s motivation.  Many times once you look at a home you see the signs.  Homes that have been on the market for a long time and homes that are vacant will have the most motivated sellers because they have been waiting for an offer or are paying two mortgages.

2)Work with your agent in developing a negotiating strategy.  In some cases it may work to ask for a lot of conditions or any repairs up front.  In other cases you fair better by negotiating the lowest price, then after having the home inspected you ask for more.

3)Do your homework.  Have your agent provide you with comparable sales of similar homes that have recently sold.  Know the top dollar you are willing to pay before you start the negotiations, and keep in mind you most likely will have to live in a home for at least two years to recoup your purchase price.

4)Don’t be afraid to ask.  One of three things will happen when you make an offer.  The sellers will accept it, reject it, or counter with terms more acceptable to them.  Most likely, no matter how low the inital offer you will see a counter-offer.

5)Get Pre-approved.  Do this before you ever step foot in a home.  An offer from a pre-approved buyer carries a lot more weight than from a buyer who hasn’t been to the bank.  If you have a home you need to sell before you buy, get it in contract before making an offer on another home.  In doing this you should be able to negotiate a lower price.

Tony L. Aspery, Broker

BOSS Realty Group

Housing takes slight dip in Harris County

January 11th, 2007

Posted on Thu, Jan. 11, 2007

Housing takes slight dip in Harris County
Officials say building permits expected to pick up in the spring
BY HARRY FRANKLIN
State Editor

Dave Woodruff stooped over a heating/air conditioning system last week he’s helping to install in the attic of a house being built in Highland Grove Subdivision in Harris County.

Woodruff, with Quality Air, Valley, Ala., said the company expects to install systems in many houses in the new development off Voorhees Road near U.S. 27 south of Hamilton.

Nearby, Doug Maddox and a crew of Can’t Be Beat Construction of Macon were installing the roof on another house — the eighth house they’ve worked on.

Housing construction just recently began in Highland Grove, where 169 houses are to be built in phases. None are yet complete. It is one of several newer developments expected to help build up the county’s property tax digest this year.

For the first time in more than a decade, the total annual value of single-family houses permitted for construction in the county slipped in 2006 — by more than $4 million. The value topped $100 million for the first time in 2005, reaching $103 million, only to drop to $99 million in 2006.

But Harris County Chief Tax Appraiser Wayne Morris said he doesn’t believe it’s a sign that housing construction numbers will continue to fall. Every month his office adds many completed houses to the tax digest.

Last year, permits to build 430 houses were issued by the county, records show, equaling the 2003 number, but falling below the 437 permits for 2004 and the record 449 for 2005. For the 10 years ending Dec. 31, the county issued about 3,600 permits for single-family houses valued at more than $700 million.

In Columbus, 678 permits were issued in 2006 for single-family houses valued at $77.65 million. The housing values are not comparable to the Harris County figures, because the two governments use different methods of determining the value. Harris County uses a figure of $65 per square foot to determine the value of a new house, while Columbus, since July 1, has used $50 a square foot, according to Kevin Sims, plans examiner for the Columbus Building Inspection and Codes office. Before July, Columbus used a $38-per-square-foot figure. In December, Columbus issued 40 permits for houses with a total value of $5.41 million, records show.

Morris credits the drop in Harris County permits last year to three factors: higher cost of construction materials and land, and higher interest rates.

The yearly valuation was pulled down by lower numbers in the four months of 2006, with the lowest monthly value for permitted houses dipping to $4.09 million in December, the lowest monthly figure since values hit $3.86 million in November 2004.

The average value for a new house remained high at $230,274 in 2006.

The county requirement not to allow houses on less than two-acre lots has impacted construction as the cost of land climbs, Morris said. He estimates the average two-acre lot in Harris County costs $40,000-$45,000. In more exclusive subdivisions such as Gray Rock Subdivision off Gray Rock Road and Piedmont Subdivision off Hopewell Church Road, lots may be substantially larger and land prices much higher.

“It still amazes me as houses continue to rise in value,” said Morris. “We get homes almost weekly that sell for more than $500,000. We have houses under construction with 12,825 square feet overall and 14,046 square feet overall.”

He said he has also been surprised to find that some residents buying new houses will live there a year or two and sell the house at $30,000-$40,000 more than they paid for it.

Morris said housing permits typically slow down in the winter months, generally picking up in February and March as spring approaches and sales perk up.

“I expect an increase in housing permits because of a couple of large developments coming on line, including one at Callaway Gardens. Housing construction is under way in Highland Grove. I understand they are close to beginning work on commercial development,” said Morris.

A drive through Gray Rock Subdivision near the Harris-Muscogee County line, developed by W.C. Bradley Co. Real Estate, shows that lot after lot is marked as sold. Many houses there already are occupied.

Tim Holmes is project supervisor for Cottonwood Land Corp. of Warner Robins, Ga., which has 10 houses under construction in Highland Grove Subdivision.

“We’ll have another 12 houses under construction in about two weeks,” he said. “Our first house will be ready for inspection in about two weeks and eight should be ready this month.”

These houses, each on two-acre-plus lots, will sell for $320,000-$380,000 apiece, he said, and will be on septic tanks. Later, the company will build on half-acre lots served by an on-site treatment plant. They are expected to sell in the low-to-mid-$200,000 range, Holmes said.

Large houses continue to be the rule, county records show. The average size of a house permitted in 2006 was 3,397 square feet. The largest was 6,632 square feet; the smallest, 1,469 square feet.

Houses with 6,000 or more square feet are no longer uncommon. Tax records show that at least 10 houses, including land, are worth more than $1 million each. Five houses, not including land, are listed with a fair market value of more than $1 million. That number could rise in the next 1 1/2 years as the assessor’s office completes a revaluation of property in the county, Morris said.

During the 10-year period from 1997-2006, the county permitted more than 3,600 houses valued at more than $706 million. The average cost of a new house during that period exceeded $196,000.

Midwest housing sales take November dive

December 30th, 2006

Business First of Columbus – 4:30 PM EST Thursday

Sales of existing houses in the Midwest fell nearly 10 percent last month from November 2005 but remained nearly unchanged from October, the National Association of Realtors reported Thursday.

Some 1.42 million existing residences were sold throughout the Midwest last month, down 9.6 percent from 1.57 million a year earlier, spokesman Walter Molony said.

The median sale price was $165,000 last month, down 3.5 percent from $171,000 in November 2005.

The national median sale price was $218,000 in November, down 3.1 percent from $225,000 a year earlier.

David Lereah, the association’s chief economist, said that for every 1 percent drop in prices, an additional 50,000 buyers are drawn into the regional market.

“As the housing market recovers from its correction, existing home sales should be rising gradually during 2007,” Lereah said in a release. “We’ve entered a more sustainable period of home sales now, and we expect greater support for prices over time as inventory levels are eventually drawn down.”

Inventories fell 1 percent at the end of November to 3.82 million homes available for sale – considered a 7.3-month supply at the current sales pace.

Meanwhile, Freddie Mac reported the national average commitment rate for a 30-year conventional, fixed-rate mortgage was 6.24 percent in November, an improvement from 6.36 percent in October.

“This is increasing buying power at the same time that sellers are showing a willingness to negotiate price and terms,” association President Pat Combs said in the release. “Combined with a plentiful supply of homes on the market, there’s a window for buyers now with conditions that we haven’t seen prior to the beginning of the housing boom in 2001.”

Report shows hot, cold real-estate markets vary by region

December 11th, 2006

Sunday, December 10, 2006
KENNETH HARNEY

Is real estate heating up, cooling down, headed for a deeper freeze or just hanging in there despite the challenges?

The latest federal report on home real-estate price appreciation offers support for each of those scenarios.

The third-quarter house price index compiled by the Office of Federal Housing Enterprise Oversight examined changes under way in 275 of the largest metropolitan markets.

As for the four scenarios:

• Yes, real estate is heating up. You have to be in the right markets, of course, but several dozen hot spots can be found around the country.

Consider Bend, Ore., where house values appreciated a stunning 30.7 percent rate during the 12 months ending Oct. 1, according to the survey. No dramatic bust or correction is taking place there — or in Myrtle Beach, S.C. (21.7 percent); Salt Lake City (20.4 percent) ; or El Paso, Texas (18.6 percent).

Overall, 37 metropolitan markets saw home-appreciation rates of 15 percent or more during the 12 months covered by the survey, and 16 states had average gains in excess of 10 percent.

• Yes, real estate is cooling down. The third-quarter index documented that conclusively. The average appreciation rate for houses nationwide dropped to 0.86 percent during the quarter, or just 3.4 percent annualized. That’s chillier than it has been since mid-1998.

In five states — Massachusetts, Michigan, New Hampshire, New York and Rhode Island — the quarterly rate went slightly negative.

• The deeper-freeze scenario is a question mark. The statistics show some sobering trends in two categories: areas where the regional economy has been struggling; and regions where corporate layoffs and plant closings have pushed unemployment higher.

Examples of the strugglingeconomy category include large swaths of the Midwest — Canton, Cleveland and Akron, for instance, and Detroit — that saw quarterly net depreciation slightly below 1 percent. Other areas fared even worse. Burlington, N.C., took the heaviest hit — 3.4 percent, an annualized 13.6 percent.

• Without question, the most impressive scenario is that many large metropolitan markets are still registering net appreciation, albeit at lower rates.

Examples include Miami-Miami Beach (14.7 percent annualized quarterly gain), Fort Lauderdale (10.3 percent), and Orlando, Fla. (6.5 percent); Los Angeles (7.4 percent); metropolitan Washington (3 percent); and Seattle (14.8 percent.

Why Buyers Should Stay Away from Real Living!

November 17th, 2006

Read the article below. It tells how compete idiots, like the CEO of Real Living in Columbus Ohio, are limiting the listings buyers can see on their website because they fear the competition from discount brokers.

That means that when you are searching for homes on their website, you are not seeing all the homes for sale in the Columbus area. Just the listings they want you to see, the listings they get paid the most on. Stay way from crooks like these guys. Here at www.oh-real-estate.com, we show you EVERY house for sale in the MLS. Everything! That’s the way it should be.

Discount Real-Estate Brokers Face
New Hurdle for Web Listings

By James Hagerty
From The Wall Street Journal Online

A revised policy approved by the National Association of Realtors this week may make it harder for discount brokers to draw attention to homes they list for sale.

The policy, approved by directors of the trade group at a convention in New Orleans, involves information about homes that real-estate brokers get from their local multiple-listing services, databases that are typically operated by local Realtor associations. Among other things, the policy reaffirms that brokerage firms that put listings from the MLS on their own Web sites can exclude certain homes.

The revised policy states that brokers must use “objective criteria” if they screen out some listings. The criteria could include location, type of property, compensation offered for agents who find a buyer, or the level of service provided by the listing company. Thus, listings from brokers providing limited service for lower fees could be excluded from other brokers’ sites.

By contrast, the policy now states that multiple-listing services must make all types of listings available to the Web sites of participating brokers. It would be up to brokers — not the MLS — to decide which listings are used on individual brokers’ sites.

In recent months, the Federal Trade Commission has cracked down on multiple-listing services that excluded certain kinds of listings from their computer feeds to local brokers’ sites and national sites, such as Realtor.com. Several MLS operators have agreed to end such practices. But the new Realtor policy may encourage more local brokers to leave discounters’ listings off their sites by making clear that the level of service provided is an acceptable reason for exclusion.

Patrick Roach, a deputy assistant director in the FTC’s bureau of competition, said the agency will continue to monitor the Realtors’ policies.

Harley Rouda Jr., chief executive of Real Living Inc., a 15-state brokerage chain based in Columbus, Ohio, said his company already allows its local offices to leave out listings from certain rivals on a case-by-case basis. “We spend a lot of money advertising our Web site to the public, and we have a right to put what we want on our site,” Mr. Rouda said. Rivals unhappy with that policy “can spend more money to promote their own Web sites.”

One concern is that potential buyers relying on a local broker’s Web site might not be aware of listings from discounters. But Mr. Rouda said that if a buyer signs a representation agreement with a Real Living agent, that agent is required to provide information about all offerings that might appeal to the buyer.

City council sets ‘07 budget at $631M

November 15th, 2006

Business First of Columbus – 5:15 PM EST Wednesday
by Saleha N. Ghani
Business First

Public safety will receive the biggest chunk of the city of Columbus’ $631.46 million budget next year, Mayor Michael B. Coleman said Wednesday.

Coleman said he doesn’t plan to increase income taxes or dip into the rainy day fund of $41.3 million.

The city plans to allocate $437.7 million, or about 70 percent of the general fund budget, for the Department of Public Safety. Rolled into that number is money to put 150 more police officers, increasing the city’s number cops to 1,909, and 65 more firefighters, increasing their total to 1,555, by December 2007. Money to update technology at fire stations and at the city’s crime lab is also included in the allocation.

Money spent on the payroll of elected officials adds up to about $56.7 million, or 9 percent of the general fund.

Coleman said the city plans to spend about $23.9 million, or 4 percent of the general fund, on development, including $4.4 million on job creation and economic development. The development portion of the fund also includes money for neighborhood services and housing initiatives.

The remaining budget has been allocated for public service, finance management, recreation and parks.

For 2007, the city expects general fund revenue to come in at $608 million. Income taxes will account for $391 million, or about 64 percent of the revenue, and shared state revenue adds another $57 million, or 9 percent. The rest is generated from property taxes, service charges, fines and penalties and investment earnings.

Coleman stressed he planned to maintain the city’s credit rating of AAA, given by Standard & Poor’s, Moody’s Investors Service and Fitch Ratings in July for conservative sending and responsible capital budgeting.

Interstates and railroad tracks, or something more?

November 2nd, 2006

Thursday, November 2, 2006
By KEVIN PARKS
ThisWeek Staff Writer

The line between one neighborhood and another is often blurry at best.

In no part of a city is this more true than for the downtown.

Massachusetts Institute of Technology professor of urban studies and history Robert M. Fogelson, in his 2001 book “Downtown: Its Rise and Fall, 1880-1950,” wrote: “As a place, downtown was hard to define. Legally, it did not exist. Unlike the city of which it was a part — indeed, unlike every parcel of real estate in the city — downtown had no formal boundaries, no precise lines to show where it began and where it ended.”

There is, in fact, a legal definition of what encompasses downtown Columbus. It was adopted in a 1997 ordinance, which states:

“The Downtown District is that area indicated in the official city zoning map and bounded as follows:

“Beginning at the intersection of Interstate 70 and the western bank of the Scioto River;

“Thence northeasterly along the Scioto River to the first railroad right-of-way;

“Thence northerly along said railroad right-of-way to the first intersecting railroad right-of-way;

“Thence westerly along said railroad right-of-way to to the intersection of state Route 315;

“Thence northerly along state Route 315 to the intersection of Interstate 670;

“Thence easterly along Interstate 670 to the intersection of Interstate 71;

“Thence southerly along Interstate 71 to the intersection of Interstate 70;

“Thence westerly along Interstate 70 to the place of beginning.”

What a mouthful! And dry as dust, to boot!

Mayor Michael B. Coleman’s administration views it more succinctly.

“We have two definitions,” press secretary Michael S. Brown wrote in an e-mail. “One, inside the interstates and RR tracks on the west.”

But then he drops the other shoe, muddying the waters just a bit:

“Two, for housing we include the ‘necklace neighborhoods’ like developments in Short North, Brewery District and Italian Village.”

What, Italian Village but not German Village?

“That’s often debated,” Brown admitted. “German Village is very much its own branded area, but we do consider it part of the core. Short North is the same. We just are cautious about where we count housing, because we want our downtown stats to be authentic.

“All necklace neighborhoods are separate, but connected to the downtown.”

Katharine Moore, executive director of the German Village Society, begs to differ.

“A true downtown needs density,” she wrote in an e-mail.”German Village, which has been a downtown neighborhood for 50 years, has coffee shops and a bookstore open till the late hours. We have restaurants and bars that are bustling well after midnight.

“We also have parks for children to play in, grocery stores, public gardens to enjoy, two elementary schools and all of the energy they provide, as well as 233 acres of pedestrian-scaled design that allows one to feel balanced and connected.

“I am certain that the success of the downtown revitalization effort will be tied directly to the ability of the developers to knit the emerging city to the historic neighborhoods of Victorian Village, the Brewery District and German Village.”

The interstates mentioned in the 1997 ordinance and by press secretary Brown had, in the opinion of Cleve Ricksecker, a profound impact on what can and cannot be considered downtown.

Ricksecker is project director for the Capital Crossroads Special Improvement District.

In a reply to an e-mail inquiry, he wrote:

“The interstate system created boundaries for downtown that did not exist prior to the construction of the innerbelt. Prior to the mid-1960s, downtown connected seamlessly to neighborhoods on the south and east. To the north and west, railroad tracks established clear boundaries. Downtown consisted of High Street between Goodale Street and Fulton Street and two to four blocks east and west of High Street.

“I believe the downtown interstates have changed not only the legal definition of downtown, but the emotional understanding as well.”

Ken Danter is founder and president of a 36-year-old company that bears his name, a national real estate consulting firm that provides market research and demographic information to builders, lenders and developers. The Danter Co. conducted a survey in 2000 to determine interest in residential development in downtown Columbus, which he believes helped spur much of the condo and loft growth that has occurred. The firm is in the process of updating that survey for the Capitol South Community Urban Redevelopment Corp.

A few months ago, Danter referred to Ohio State as a “fine downtown university.” He was only half joking.

“That’s probably a stretch,” Danter admitted in a telephone interview last week, “but the fact is, I believe most people relate Ohio State to (state Route) 315 and Lane Avenue, but the reality is that OSU reaches to King Avenue. That’s very, very close.”

Danter falls firmly in the camp that includes German Village as part of downtown.

“From a market perspective, it certainly is,” he said. “When I see people walk to work, that’s a pretty good indication that they’re part of the urban community.”

Peter D. Scantland is the president of Orange Barrel Media, the firm responsible for putting cars in slingshots, gigantic soccer balls and other large-scale ads on the sides of downtown buildings, much to the vexation of Ohio Department of Transportation officials.

Scantland offered his thoughts via e-mail:

“I think that while the city and census reports may define our downtown as a specific and rather limited geographic area, bordered on the north by Goodale Street, the east by Cleveland Avenue, the west by Neil Avenue and the south by Mound Street, I would argue that many of the neighborhoods immediately adjacent to that boundary could actually be considered to fall under the ‘downtown’ umbrella, as well, if not geographically, then certainly by virtue of set of common characteristics.

“I would suggest that the areas immediately within the previously mentioned boundaries would better be described as our Central Business District. Generally, the core downtown area, as defined by the city, has traditionally been primarily business uses, with typical buildings characterized by tall ’skyscraper-like’ construction.

“Until relatively recently, there has been little by way of residential construction. Conversely, the Short North, Victorian Village, Italian Village, German Village and Olde Towne East, have been experiencing rapid residential development and escalating property values for the past 20 years.

“Under Mayor Mike Coleman’s Downtown Business Plan, developers have been able to service pent-up demand for downtown living in our central business district. The next 10 years will undoubtedly witness more tall buildings being added to our skyline, but they will more than likely contain condos and not offices.”

When the Downtown Residents Association was formed three years ago, according to president Kevin Woods, its boundaries were devised so as not to step on anyone’s toes.

“When we were debating what the boundaries of our organization should be, we basically looked at the established civic associations that were in the downtown,” Woods said in a telephone interview.

Existing civic groups were found operating in the Brewery District, Olde Towne East, German Village, Schumacher Place, Italian Village, Short North, Victorian Village and Franklinton, according to Woods. With only one largely defunct civic group located near the Columbus Metropolitan Library, Downtown Residents Association officials chose Interstates 70 and 71 in south, I-71 on east, I-670 to the north and the Scioto River to the west as their borders.

“Outside of those boundaries there is pretty much a civic association already established,” Woods said.

The association was created more or less as an exercise for the Leadership Columbus program Woods participated in three years ago. Membership is open to anyone interested, but only those residing within the specified boundaries may vote in board elections.

Prior to moving downtown, Woods lived in Shoemaker Place for nine years and then spent five years in Victorian Village.

“I always considered myself downtown,” he said. “We’re all one big neighborhood, but each one has its own different feel, amenities or lack thereof, pluses or minuses.”

Jon Myers, a partner in Fresh, a year-old downtown firm of Web site designers and developers, spent a decade in New York City before coming to Columbus. His take on his new home, Myers wrote in an e-mail, is that it is a “collection of neighborhoods (that) have identities, some of which are highly developed, the Short North, and some of which are not developed at all, Columbus downtown proper.”

“The boundaries for downtown Columbus are geographical,” Myers continued, “with lots of distinct landmarks in between. The convention center represents an area of dead energy and space on the east side of High Street. This represents a separation between ‘downtown’ and the ‘Short North’ both of which are ‘downtown’ or even more than downtown, they are simply urban environments.”

Larry Fisher is president of the Columbus Downtown Development Corp., a nonprofit, private-sector development organization, that was formed in June 2002 to implement the business plan for the central business district.

In his reply to an e-mail query, Fisher wrote:

“Downtown Columbus is the face of our region, and what the TV networks show when riding around in their blimps, and talking about Columbus. While there are no defined boundaries, there is a sense of place defined by excitement, diversity, vibrancy and strength.

“Downtown is our government, arts and business center. It includes the Arena District, the emerging RiverSouth neighborhood, and the theater and entertainment districts. It’s the home of three colleges: Columbus State, Columbus College of Art and Design and Franklin University representing 30,000 students. It’s big-name entertainment and professional hockey. It’s a perfect barometer of our economic well-being, because when downtown is healthy, so is the rest of our region. And as our Metropolitan area grows, so does its core. More and more people when they speak of downtown include places such as German Village, Brewery District, Old Towne East, Victorian Village, Harrison West, OSU campus and others.

“Downtown and its definition are both dynamic.”

Paul D. Astleford has two different perspectives on what downtown is and isn’t, one professional and the other personal.

Astleford is president and CEO of Experience Columbus, which employs approximately 40 people in convention sales, tourism sales, convention services, membership, marketing, communications, events and sponsorship development and administration.

On the personal side, Astleford said in a telephone interview, he and his wife, Susan, view downtown as kind of tall and skinny, going up through the Short North and south through German Village, but stopping on the west at the Scioto and the east at Grant Street.

Then there’s his view based on his position at the tourism-promoting organization.

“I would say that from the standpoint of what I’d call the selling and marketing of our community, I would define the downtown as a much larger circle, which would include the university and which would go out west on Broad, I’m not sure how far, some distance, through Franklinton and all that,” he said. “On the south side, I’d certainly think that it goes down to (Interstate) 270 or whatever. I think I could generally say when we’re selling our community we’re selling the greater Columbus Community, so it would almost be everything inside 270.”

Via e-mail, Spectrum Properties president Bill Shelby, whose firm has developed several downtown condo projects, offered this:

“I would argue that downtown and the (central business district) are synonymous. The CBD has some natural and manmade boundaries, which has led to defining the area both currently and historically. Typical boundaries for the CBD would be: I-670 to the north as a manmade boundary, the Scioto River to the west as a natural boundary, I-70 and I-71 to the south and east respectively as manmade boundaries.

“The feel of downtown Columbus is as unique as any of the suburbs that surround it,” Shelby continued. “Being able to step out your front door and walk to any number of restaurants and entertainment venues is drawing people to the convenience and exceptional opportunity that only living downtown can offer. Feeling the excitement and energy that downtown residents have come to know and love adds to the vibrant community formed in the CBD.”

Whatever the geographical or emotional definition of downtown’s boundaries might be, the Coleman administration views it as being of vital importance not only to the city but also to the region, according to his spokesman.

“When Mayor Coleman says it is ‘everybody’s neighborhood,” he isn’t kidding, because it matters to everyone,” press secretary Brown wrote. “Downtown is clearly the economic core of central Ohio, as well as the cultural and entertainment center.

“If downtown were to fade, as many urban cores have, it would hurt all of central Ohio. That is why we took action back in 2002, to reverse the troubling trends we were seeing and bring new life and investment into the heart of the city.”

Home sales continue to drop

October 18th, 2006

Business First of Columbus – 1:51 PM EDT Wednesday

The housing market continues its downturn with a nearly 12 percent decrease in the number of houses sold in September, compared with last year.

The Columbus Board of Realtors said Wednesday that 2,134 residences were sold in the region last month, down from 2,420 sold in September 2005.

The average sale price slid 1.5 percent to $172,476, compared with $175,162 a year earlier, with houses spending an average of 93 days on the market, compared with 82 days last year.

The number of new homes-for-sale listings in Central Ohio was down 11.3 percent in September to 3,884, from 4,380 a year ago.

Year-to-date home sales are off 3 percent from 2005.

The Columbus Board of Realtors monitors sales in all of Franklin, Delaware, Fayette, Madison, Morrow and Union counties, and portions of Licking, Pickaway, Fairfield, Champaign, Clark, Knox, Logan and Marion counties. The report does not include sales of new houses by builders.

Condos becoming cushier as builders vie for young buyers

October 1st, 2006

Sunday, October 01, 2006
Debbie Gebolys
THE COLUMBUS DISPATCH

Young professionals are a hot commodity in central Ohio, and developers are pulling out the stops to build them happy homes.

They’re building condominiums for 20-somethings that have amenities their older brothers and sisters never dreamed of.

From trendy urban lofts to vast suburban developments centered on swimming pools and taverns, the number and variety of condos geared toward young professionals are growing dramatically.

“The perception is the condo market is just for baby boomers, empty nesters looking to get out of their large homes,” said Jim Hilz, executive director of the Building Industry Association of Central Ohio. “That’s just not the case. It’s a big part of the entry-level, first-time-homebuyer market.”

That first-time-buyer market is potentially enormous. The nearly 150,000 central Ohioans in their 20s made up the biggest age group by far in the 2000 Census.

Civic leaders know that many in that group are university students who move away before they reach age 30. Mayor Michael B. Coleman and the Columbus City Council announced plans last month to work with business and arts groups to study ways to attract and keep young professionals.

Those efforts come a few years after the area real-estate industry tuned into the newest adults and found that they’re different from their older counterparts.

Twenty-somethings are willing to commit to mortgages sooner than older generations. They are buying homes at an average age of 26, according to a Century 21 survey. That’s three years younger than the average age at which Generation X (now ages 28 to 41) and baby boomers (ages 42 to 60) bought homes.

Hoping to capitalize on the trend, developer Lifestyle Communities began work last year on a Northeast Side complex of 1,400 apartments, townhouses and single-family homes.

At 126 acres, Preserve Crossing is the equivalent of 95 football fields. It is being built around a community center with a neighborhood bar, party room, fitness center, outdoor pool and volleyball court. Coming soon is a concierge service to handle dry cleaning, package pickup and restaurant reservations, among other things.

Lifestyle also organizes ski trips, fitness classes and candlelight yoga classes for Preserve Crossing residents.

“We don’t want to be something for everyone. We want to be everything for someone, and that’s the first-time homebuyer,” said Justin Spring, Lifestyle’s marketing manager.

Lifestyle adopted that strategy three years ago when the company employed about 30. Now, more than 200 employees, mostly in their 20s and 30s, work on some facet of Lifestyle’s seven projects in central Ohio and others in Dayton and Lexington, Ky.

“We have units sold where roofing is just going up,” Spring said. “Our only limitation is how fast we can get ’em built.”

Closer to Downtown, the approach to young professionals is distinctly different.

Developer Matthew Vekasy, 37, of Grandview Heights, lives and works within five blocks of Grandview Avenue’s pizza places, wine shops, bars, restaurants and movie theater.

Vekasy’s Metropolitan Holdings recently started building condos within walking distance of Grandview Avenue for “people just like me, in our age group.”

The Metropolitan, at Northwest Boulevard and W. 3 rd Avenue, will be a three-story flatiron building of glass, brick and neon, with wrap-around balconies. Twenty condos ranging from 1,300 to 2,600 square feet are priced from $299,000 to $699,000.

“People want to distinguish themselves, and where you live says something about your personality,” Vekasy said. Instead of swimming pools, The Metropolitan’s amenities include Bang & Olufsen audio and video wiring, walk-in Roman showers and three-sided fireplaces.

“I firmly believe you’re going to see a movement of people who don’t want to live in your typical suburban-sprawl communities,” Vekasy said.

He’s betting his buyers will be 20- and 30-somethings with good jobs.

“There’s got to be young professionals in this town that make money,” he said.

Geographer Erick Lobao, 28, of Grandview Heights, said he likes The Metropolitan, but not the way Vekasy intended.

“I like it as a homeowner because I see the potential to help house values,” Lobao said.

Lobao married his Grandview high-school sweetheart, now an Upper Arlington teacher, in August. They bought a Grandview house built in 1932 that has termite damage, a musty smell in the basement and “a garage that is about to fall over,” he said.

“Dealing with a house is definitely a new experience. Every day, we find something new that’s not perfect.”

But he and his wife are OK with their house’s foibles, accustomed as they are to older Grandview homes. They like the option to stay there for the long haul.

“We have three bedrooms and a yard,” he said. “That’s more than enough space for kids.”

In Labao’s circle, 20-somethings are finished with condos.

“You get a little older and you kind of want more space, more room for your stuff,” he said. “After you’re more established, it’s a progression.”