German Village

This is the page that tells you everything you ever wanted to know about German Village, Schumacher Place and Marion Village Real Estate. There is a lot to love about all of these fantastic neighborhoods just South of Downtown Columbus. From walkability to a great sense of community, German Village is an incredible place to call home.

Interstate 70/71 Split Fix will stress neighborhoods but eventually be good for Columbus Real Estate

Olde Towne East and the King Lincoln District will be eventual winners

If you’re considering a purchase on the Near East side of Columbus or in the German Village, Schumacher place communities, you should know that the Ohio Department of Transportation is going to tear up the highways on the East and South sides of downtown, where Interstates 70 and 71 meet and are the same road for a stretch.

Right now it’s a mess and the most congested, accident prone stretch of highway in the state.  Two generations ago, the highways tore apart neighborhoods and severed the Columbus Community while razing gorgeous and important residential and commercial buildings. Early ODOT renderings showed caps re-connecting downtown Columbus to its neighborhoods similar to the cap over I-670 that connects the Short North to downtown.

Now that construction is inching ever closer, it appears that only one of the bridges will be capped with enough real estate on top of it to actually build something – at Long Street over I-71, a big win for the King Lincoln Bronzeville neighborhood.  In the beginning though, there will only be a grassy field on the cap until a developer with some money decides to build there.

Most of the rest of the bridges be will built with the ability and strength to support a cap with buildings on it but that’d be an entirely new construction project or projects. Many Olde Towne East residents are upset that the project will wipe out a couple historic buildings on Parsons Avenue, including Carabar and ET Paul Tires–the Country’s  first gas station (I know, the irony).

I love the idea of a functional Broad Street bridge over I-71 that is pedestrian friendly with no on or off ramps coming onto Broad. Throw in that treed, park like median we’ve all been hearing about for years, extend it to Franklin Park and we’ll be in business.

It’s going to be a pain for residents of KLD and OTE for the next 4-6 years and there will be inconveniences. I don’t think property values will be adversely affected in the short term. I do think that, in the end, with a solution in place that looks better, feels better and will be more connected than what is currently there, property values and interest in these areas will increase–with an obvious bump up for OTE and KLD which have so much more pricing room than German Village.

Here is the latest from THE COLUMBUS DISPATCH

Coveted highway caps still in Downtown plan
But budget will limit final number
Monday, July 19, 2010 02:51 AM
By Robert Vitale
Bridges over a rebuilt I-70/71 will be better than the standard concrete and chain-link of today.

But only one of the six spans to be replaced during the project’s first half will include a Short North-style cap that near-Downtown neighborhoods have coveted throughout the planning process.

Ohio Department of Transportation officials say earlier drawings and descriptions were conceptual and now are outdated, even though they’re still posted on the agency’s website. The “visioning exercises” included cost estimates but weren’t subjected to the budget realities applied as the state moves toward a 2011 construction kickoff.

“We’re down to the nuts-and-bolts decisions now,”  more here

The Scioto Mile – What’s new on Columbus’ downtown riverfront park?

The beginning of the Bicenetennial Park Bandshell and Cafe

For the latest in what is new in regard to the Scioto Mile, check their blog… http://www.sciotomile.com/inside-the-mile

I’m down that way once a week or so and I’m always surprised at the progress. Though I have to say that I’m never surprised by the progress of the Main Street bridge–it seems like it’s the longest project in the world.

The Scioto Mile is a $44 million investment in Downtown Columbus’ Riverfront. Under the direction of Columbus Downtown Development Corporation (CDDC), which was created in 2002 to lead Downtown redevelopment and implement the Downtown Strategic Plan, The Scioto Mile is just one part of the City’s five-part revitalization plan.

Part of the Columbus Recreation and Parks Department, The Scioto Mile features:

• The Promenade on the Scioto Mile, a grand esplanade and green corridor that stretches along Civic Center Drive from Broad Street to Rich Street, connecting Battelle Riverfront Park with the John W. Galbreath Bicentennial Park.
• The John W. Galbreath Bicentennial Park, a 4.7-acre park featuring a stunning 15,000-square-foot water fountain, casual dining cafe and eye-catching bandshell.

Schumacher Place and Merion Village Real Estate Update

This 2 bed, 1 bath 1076 sf Hanford St. Condo sold last week for $172,000

This update includes some of the near South – specifically Schumacher Place and Merion Village

Homes on the market: 97 Greater Schumacher Place and Merion Village Homes and Condos for sale today

• $177,474
• 1424 sf
• $126/sf and
• 140 days on market

Greater Schumacher Place and Merion Village Homes in contract with escape clauses:

None, There are no homes you could still, conceivably, swoop in and buy

Schumacher Place and Merion Village Homes in Contract contingent on financing/inspections as of today: 13

• Averaging 1404 sf
• $163,377
• $121/sf
• 149 days on market

Schumacher Place and Merion Village area Homes in firm contract as of today: 1

But it’s irrelevant to this discussion

Greater Schumacher Place and Merion Village area Homes SOLD over the last 90 days: 26

• Averaging 1299 sf
• $155,460 avg List but a $148,327  Sale price or 94%
• $116/sf
• 94 days on market

Joe Peffer is a Realtor who works in Schumacher Place, Merion Village and other Columbus Neighborhoods.

Would you like me to break it down by Schumacher Place vs Merion Village or $/sf for Schumacher place condos? email me and I will be glad to help any way I can

German Village and Brewery District Real Estate Update

This 3 bed, 2.5 bath 2150 sf German Village home sold a few days ago for $430,000 after 146 days

This update includes some of the near South including the Brewery District and GermanVillage

Homes on the market: 181 Greater German Village Homes and Condos for sale today

• $299,967
• $204/sf and
• 234 days on market.
• CONDOS ONLY – 47 Listings, $310,628 1692 sf, $186/sf, 163 DOM
• HOMES ONLY – 91 Listings, $476,969 – 1989 sf – $228 sf – 174 DOM

Greater German Village Homes in contract with escape clauses:

There is One Home you could still, conceivably, swoop in and buy — 193 East Beck is listed at $279,900 and is a 2 bed, 2 bath with 1085 sf.

Greater German Village Homes in Contract contingent on financing/inspections as of today: 7

• Averaging 1606 sf
• $288,700
• $182/sf
• 139 days on market
• CONDOS ONLY – 2 w/ avg of $175,900, 1442 sf, $151/sf, 101 DOM
• HOMES ONLY – 5 with an avg of $333,820 – 1666 sf – $195/sf – 154 DOM

Greater German Village area Homes in firm contract as of today: 2

• Averaging 1934 sf
• $178,650
• $98/sf
• 51 days on market

Greater German Village area Homes SOLD over the last 90 days: 26

• Averaging 1336 sf
• $251,245 avg List but a $235,377  Sale price or 94%
• $176/sf
• 148 days on market
• CONDOS ONLY – 4 @$152,975, 1065 sf, $145/sf, 79 DOM 2 in GV and 2 in SP
• HOMES ONLY – 22 @ $250,359, 1388 sf – $182/sf – 160 DOM

Joe Peffer is a Realtor who works in German Village, Schumacher Place, the Brewery District, Merion Village and other Columbus Neighborhoods.

Would you like me to break it down by German Village vs Brewery District or just condos, Schumacher Place vs Merion Village? email me and I will be glad to help any way I can

Columbus Economy – Columbus Real Estate Markets don’t Exist in a Bubble

And you don’t buy homes for sale in Columbus in a vacuum.  Just like all real estate is local, regions tend to have their own economies. Just like the Columbus area housing market hasn’t crashed to the tune of the National real estate markets that make all the headlines and take over mindshare, the Columbus economy is vast and varied and weathering the storm better than you may expect.

I recently ran across a conversation that Walker Evans had with Dr. Bill LaFayette, the Vice President of Economic Analysis at the Columbus Chamber of Commerce. They discussed a variety of topics related to the Columbus economy.

This is a great snapshot of the Columbus economy. If you’re moving or relocating to Columbus, Ohio, then  you may be surprised to hear about how important rail is to the region, or tourism.  Here is a small exerpt of this interview that touches on passenger rail…

WE: Being able to see some of these results from the shipping and commercial rail sector, do you think we could see some of the same types economic benefits from passenger rail service? We’re very close to seeing the 3C passenger rail systemstarting. Do you think we will see a similar type of benefit from personal transportation?

BL: Different but important. The benefit would be making it easy to get from Cincinnati to here, from Cleveland to here, which would be a big boost for our tourism market. Again, another sector that we may not give as much credit to as it deserves, we get a lot of tourism here. We have been cited as a travel spot. The Short North specifically has been cited in national and international publications. We have been in The New York Times travel magazine a of couple times, The Los Angeles Times and when SkyBus was flying, just about every city that SkyBus connected Columbus with sent a reporter here to ask the question, “why would in the world would anyone jump on a plane and go to Columbus?” And those articles were absolutely glowing, so we sell ourselves short, we definitely do. There is much more to see and do here than we often think.

WE: We posted links to a lot of those stories as they started to roll in due to Skybus. After they ended up folding, a lot of people were saying it was a total waste of time, waste of money, a waste of everything… but the amount of positive press on a national level that Columbus received out of the whole ordeal might have helped balance the equation in the end.

BL: Oh, it was definitely a positive. It sort of reminded the air travel community that Port Columbus is an available, accessible airport with capacity.