Report shows demand for 6,800 more homes in downtown Cleveland by 2030

This article comes from http://realestate.cleveland.com/

"CLEVELAND, Ohio -- Developers could build - and expect to fill - 6,800 more residences in downtown Cleveland by 2030 without oversaturating the market, a new study asserts."

"Research by Urban Partners, a Philadelphia-based consulting firm, lays to rest concerns about a potential overabundance of housing in and near the central business district. There's ample demand, the consultants say. But Cleveland must find ways to add more for-sale homes to the rental-heavy market and to turn more downtown workers into resident"

This is a clear sign of Cleveland growth and housing demand. The downtown is heavy in rentals and they stay rented, but the need for homes is great. The demand will be costly to new home owners, and it will create higher prices for surrounding areas. Think about New York real estate and the cost of property as you move closer to downtown. A lot of people moving into New York look to the suburbs for better pricing, which puts higher demand and higher prices also. 

""You're just sitting in a position where you have a lot of capacity to grow compared to other downtowns, period," said James Hartling, a partner with Urban Partners."

Cleveland is modernizing and creating a whole new feeling to their downtown living. I was at a clam bake last night and their where two couples seeing a play at the Play House Square and had to leave early. People want to be in downtown Cleveland today and have a lot of reasons that support that. 

""How do you make the downtown more attractive to corporations moving down here as well as people moving down here?" asked Tom Starinsky, who participated in discussions about the research as associate director of the Historic Warehouse District Development Corp. and Historic Gateway Neighborhood Corp. "I think we shouldn't lose sight of the softer things.""

Cleveland city management will get the issues solved and keep the historic charm in the downtown area. On 4th Street in Cleveland they have a eatery called Pickwick & Frolic that was said to be frequented by Charles Dickens himself. Imagine sitting in an area that used to be seen and used by Charles Dickens the author of that great book called Christmas Carol Awesome! That's history I like.....

""We're pleased that the study has reinforced the fact that there continues to be a strong market," he said of demand for downtown-area housing. "There seems to be the ability to continue the momentum, to enhance the momentum. It's good to have that affirmed by a national firm.""

Cleveland truly is a great place to live in and have great scenery to boot.  Come and see for yourself and call me I'm Brett 216-703-5740 EXP Realty Ohio  

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