It will be magnificent but will it draw home buyers to Downtown Columbus Condos?

Today WOSU radio had a piece (partially excerpted below) asking this very question.  The new and fabulous Columbus Commons and this Scioto Mile park will be a draw for downtown Columbus. They might help sell homes, they might bring some people downtown, but they are merely a piece of the  puzzle.

The South end of downtown has more attraction than many might consider off the top of their head. It’s not as colorful as the Arena District, but there’s activity around. The fact is, condos have fallen out of favor among home buyers.

A Front Street, Main Street and Civic Center Drive free of construction…..now that’s attractive.

“The appeal of living in downtown Columbus gets a major boost this summer with the planned opening of the Scioto Mile – The park under construction along the Scioto River.

Property owners and housing developers hope the park will attract buyers, but they are having some difficulty doing that.

The $40 million Scioto Mile is expected to open early next month. The park winds its way from Bicentennial Park on the south side of downtown to the Arena District on the north. It includes wide greenspaces, walking paths, bikeways, plazas and a new signature fountain.
City leaders and property owners hope the revitalization project will boost values and stimulate commercial growth.
One property that stands to benefit is The Waterford Tower condominiums on West Main Street. The 19 -story tower overlooks Scioto Mile. Manager Mark Reader can’t wait for the park to open.

“Aesthetically it’s just beautiful, if you got up to our higher floors that face the north you can see the entire park. They’ve been testing the water with the lights, they have a new restaurant opening, an amphitheater. I think it’s going to provide a lot of entertainment, a lot of amusement,” said Reader.

But sales have been slow. Some 15 Waterford units are for sale out of 102. None was sold last year. Realtors say buyers want to wait until the park is finished. They also blame the age of the building – it’s 22 years old. And the newer downtown condos enjoy a ten-year tax abatement because of a city incentive program.”