It’s time for the occasional real estate roundup where where the Weinland Park blog looks at recent activity, opportunities, gossip and rumors in the neighborhood real estate market. First, what’s for sale. And there are very few houses for sale in Weinland Park.

381-383 Chittenden

Advertised as a student housing investment opportunity and priced as such at $158,000. The building goes to sheriff’s auction on September 9th for $165,000 so it’s a little cheaper this week.  Free WiFi for students.

There is already a fair amount of student housing on Chittenden but the problem is that everyone seems to be ignoring the fact that part of it is in a National Register of Historic Places District and it’s degrading the housing. So what could a restored National Register District is becoming a hacked-up National Register District. Granted that keeps home values low. And that makes it more cost-effective for student landlords and at the same time less attractive for single-family home ownership.

Chittenden and east of North Fourth – let us count the ways.

Somehow someone actually got away with vinyl siding a house that was is under the purview of the Historic Resources Commission. Not to mention the treated lumber retaining wall, slider window in the dormer, and untreated wood porch. None of these elements are historically correct for the district. However, according to preservation types no one is going to get excited until the neighborhood starts to complain. Consequently, it looks like Chittenden might easily become a street of students and project-based Section 8 housing unless some serious hell-raising gets underway faster than you can say “absentee landlord in Dublin.”

National Register District from the alley.

Your local blogger has a hard time imagining that what appears to be vinyl replacement windows and a two-story party deck in treated lumber made it past the Historic Resources Commission. Although it should be fairly profitable. And nothing says more renovation like the dumpster in the backyard.

The renovation of 11th Avenue into market rate apartments is going to be one to watch for Chittenden Avenue.  Will it make a dividing line between the largely student rental University area and the rest of Weinland Park?  Can Chittenden piggyback on the investment? Or will it help seal the fate of the neighborhood on the other side of 11th Avenue. One thing that may be a fair bet is that it’s not going back to what it was before – an area of disinvestment. So,will it be somewhat gentrified with a mix of mainly single-family with affordable and Section 8 housing like Italian Village or students and Section 8? It’s time for the neighborhood to pick your poison.

Going condo – 125 East 7th Avenue near Indianola

This weeks super wildcard and the true test of mixed-income and neighborhood diversity is this apartment building on East Seventh. This property recently came before the University Area Commission Zoning Committee for a parking variance because it’s going condo. Beginning of a trend? This property is the premier test case for the Weinland Park mixed-income/diversity experiment because it is located in the general vicinity of CPO properties and what has been renovated to be student housing on Indianola between 7th and 8th Avenues. Also, rumor on the street has it that the 7 story apartment building with the Walgreens on High and 7th is dead so the options are really expanding all that much yet.

The beginning of an entire block that was reconfigured as student housing near the condo at 7th and Indianola. It used to have a porch. Help or hindrance for condo sales nearby?

The other corner at 7th and Indianola

And this project on the other corner of 7th has been stalled for at least a year. Hopefully with their taste in windows they won’t finish it. Although it’s going to be tricky selling condos with a vacant house across the street.

A nice single-family home on Summit and 9th for $129,000. It’s about halfway through a renovation so it’s probably too expensive for a rental.

This house on Summit has been for sale for quite a while. Your local blogger always thinks it’s a warning sign when someone uses a plain 4 x 4 post for porch columns. Usually the rest of the renovation is equally cheap and tasteless.

1383 Summit

This house has been on the market for a while, or rather on and off. It started at around $130,000 and is now $80,000. From the pictures and description it appears to have been totally renovated which is actually to bad because it appears all the original woodwork, and at least the doors have been stripped out.

It’s also located a number of homes owned by Veliko Ventures, everyones favorite Short North landlords whose houses and apartments have become legendary as neighborhood nuisances.

North Fourth and Eighth Avenue

Don’t forget about the new build houses on this lot. The alley is returning and the houses should mirror the rest of the neighborhood.

All these projects and streets ought to be quite interesting in the near future and we’ll see what each end of Weinland Parl will be in the future. Remember, it’s never dull in Weinland Park.

Advertisements