Neighborhood Launch – The downtown condo Ship is Sailing
In the video I mention (twice) a City Parking lot on 4th and Elm….That is a parking GARAGE being built, not a lot.
ALL the 4th street units are sold except the model which won’t be on the market.
All BUT 3 of the 2 bedroom Townhomes are sold in the middle section on Gay street with the park and fountain setting in the courtyard, so it’s not really completely sold like I mention in my excitement.
4 Townhomes and 1 flat are ALREADY sold on the contemporary condos facing 5th Street.
In a time when nothing else seems to be selling, Neighborhood Launch isn’t doing too bad. It’s tough to keep track of because I tend to follow units via the MLS and not Builder Sites but I really love this project.
If not for Would-Be buyers who can’t sell their suburban homes, probably 10 more would have been sold by now.
Let’s face it, Jeff Edwards is literally launching a neighborhood in Downtown Columbus. I, for one, applaud this project. Interested? Call me to go take a look.
Fannie Mae says condos can’t be more than 20% commercial
The Battleship building in Downtown Columbus, Ohio currently has FOUR units available from $135,000 to $174,900
One of the criteria Freddie Mac and Fannie Mae now use to make a condo complex conforming to their guidelines is that the complex cannot have more than 20% of its total square footage as Commercial space.
If that is the case, only a portfolio lender can finance the condo in that complex.
Most building downtown would be OK, but a perfect example is the Battleship Building in the arena district which has 22% of its space used as Commercial.
FHA mortgages aren’t available for all condos. Downtown, most of the not-yet-approved condo buildings have attained FHA status or are busy trying to attain approval. It makes a BIG difference wether or not a buyer can put down FHA’s 3.5% or conventional’s 20%.
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Downtown Columbus’ First Dog Park is Open for Business
At the corner of 4th Street and Spring Streets
Thanks to the City and to The Downtown Residents Association, it’s a done deal. Park Benches, fences, it’s ready to go when your dog is.
Downtown Housing Update Oct-November 2008
The good news is that if you’re interested in buying a Downtown Columbus condo, then you’re in luck. There are 182 active condo listings in Downtown Columbus.
Over the last 2 months, October-November 2008, only FOUR listings have sold in Downtown Columbus Proper. They were:
- A 6th floor Connextions condo, 1145 sf, for $238,500
- A never finished 23rd floor penthouse with 2727 sf at Miranova for $799,900, listed at $975,000, this was a good deal.
- A 2 bed, 2.5 bath Rich St Walk end Unit w/2 car garage for $284,900
- A 669 sf Waterford Tower 1 bedroom unit on the 14th floor for $115,000
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[caption id="attachment_1161" align="alignright" width="300" caption="This 4 bed, 3 bath Clintonville home at 33 Aldrich sold...
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