Reader Response to Avenue District News Article

Part Four in The Avenue District Empty Nester blog series

On Feb. 14, Cleveland Plain Dealer writer Michelle Jarboe posted her feature story on The Avenue District – “Buyers sign up for Zaremba's downtown homes in Avenue District” – on the Cleveland.com business blog. The article drew several positive comments from online readers, including from the Empty Nester demographic:

Posted by nycleveland - 02/15/08 at 9:26AM
This is great news! My husband and I keep looking for reasons to move back to Cleveland from NYC, but we have zero desire to live the suburbs. Knowing that downtown will be a good option will bring us and others back that want urban living.

Posted by quetalamigo - 02/15/08 at 11:51AM
I would love to live downtown. As soon as my youngest graduates from high school I am going to look into it.

Click on the links below to view the Cool Cleveland interview with Avenue District buyer and Empty Nester, Ellen Evans:
(Windows Media Player)
(Quicktime)

Part Three: Confessions of an Empty Nester
Part Two: Second Homes Get Closer to Home
Part One: Empty Nesters Filling Downtown Spaces

Confessions of an Empty Nester

Part Three in The Avenue District Empty Nester blog series

In March 2007, Sabra Davis, administrator of the Zillow real estate blog at www.ZillowBlog.com, gave a detailed personal account titled, “Confessions of an Empty Nester,” describing the new life her and her husband pursued after her children grew up.

“…Now our family is grown, and my husband and I decided the next chapter in our lives would be more exciting and invigorating if we said goodbye to The House. And so we did…”

“…Our everyday lives have changed in every way imaginable. We don’t own a car, so we walk everywhere, including to and from work. We use the bus or ferry if we want to go farther afield. This has had a profound effect on how we interact with people. We realize now that the cocoons of our cars kept us well insulated from the people around us. Our genuine interactions were with family and coworkers, the only people who saw us stripped of the metal that clothed and protected us. Our neighbors, we discovered, were virtually strangers…” Click here for full post.

Part Two: Second Homes Get Closer to Home
Part One: Empty Nesters Filling Downtown Spaces

Second Homes Get Closer to Home

Part Two in The Avenue District Empty Nester blog series:

In a 2006 article on second-home purchases, Walter Molony, of the National Association of Realtors, stated that second-home purchases less than 100 miles from a primary home rose significantly from 2002-2005 from 33 percent to 47 percent.

The article continues, “In fact, more than one-third of recent second-home purchases are within 25 miles," Mr. Molony added. "We're hearing about more and more people who keep a condo in the city and spend their quality time — whether or not they call it vacation, weekend or dual — at their second houses." Click here for full article.

A 2006 survey of second-home owners by the National Association of Realtors® shows baby boomers continue to dominate the market and second-home purchases for vacation and investments are growing: Click here for the full article.

• The median age of an investment owner is 55, with an income of $98,600
• 75 percent of investment owners are married couples
• Investment property is located close by, within a median distance of 10 miles.
• Six out of ten investment properties are located within metropolitan areas.
• Half are single-family homes
• 13 percent are condos in a building with five or more units
• 8 percent a townhouse or row house
• 34 percent of vacation second homes were less than 100 miles from their primary residence
• Eight out ten drive to their property, and half of vacation homes are located within the same state as the owner's primary residence
• Eighty-three percent of vacation homeowners are married couples

Part One - Empty Nesters Filling Downtown Spaces

Empty Nesters Filling Downtown Spaces

With the kids grown up and moving out, many Baby Boomers are making the decision to downsize the nest, and upgrade their lifestyle in downtown dwellings. As part of a national trend, it’s no surprise that The Avenue District is welcoming buyers from this demographic at its luxury 10-story condo building at East 12th Street and St. Clair Avenue, and townhomes at East 15th Street and Rockwell Avenue.

Whether drawn to the downtown lifestyle and walkable neighborhoods, or simply purchasing a second home in the city for investment or personal use, Empty Nesters are quickly becoming a force in downtown living.

In a Feb. 27, 2008 article on FoxBusiness.com, Kyle Ezell, author of “Retire Downtown: The Lifestyle Destination for Active Retirees and Empty Nesters,” was quoted on the topic. The article states:

“The number of Americans over age 50 is expected to triple in the next 10 years. That increase means a larger retired population in most U.S. cities, as today’s 50-and-over crowd seeks convenience and close proximity to health care and entertainment, according to CityRetirement.com”

“There is a growing percentage of empty-nesters who have lived in the suburbs all their lives and are ready for the action they’ve been craving,” said Ezell. “It’s a niche market for those ready for fun and entertainment.”

Click here for full article

Avenue District Sales Office Has Moved

In late February, The Avenue District Sales Office made its move from inside the Galleria at Erieview, to an onsite trailer at 1238 St. Clair Ave., giving visitors an up-close and personal view of progress on the 10-story condo building at 1211 St. Clair Ave.

The new location is just a three-minute walk to the Site 3 townhomes at East 15th Street and Rockwell Avenue. Here you can view the first townhome building in its completion and the second townhome building in progress next door.

For more information, call sales manager Frank Lalli at (216) 589-8524, or visit www.TheAvenueDistrict.com.

Urban Living = Healthier Lifestyle?

Is Your House Making You Look Fat? Allison Arieff, the former Editor in Chief of Dwell magazine, and author of New York Times opinion blog “By Design,” posted “Is Your House Making You Look Fat?” Feb. 18. The post revolves around the idea of building community – as opposed to commuting - as well as national urban living trends and environmental issues.

“...Contrary to popular belief, the pace and proximity of urban living can actually contribute to more healthful lifestyles, while lower-density communities tend to have a higher incidence of cardiovascular and lung diseases, including asthma in children, as well as cancer, diabetes, obesity, traffic injuries and deaths; these are exacerbated by an increase in air pollution, gridlock and traffic accidents, and by a lack of physical activity. The study recommended that people seek out cities and towns with reliable public transportation systems, bicycle lanes and pedestrian paths, ones that have schools, businesses and stores within walking distance...”

Click here for full text