Downtown Columbus Real Estate (Dublin: apartments, rentals, lofts)

[eclark]

Hello
Can anyone provide general information about the Downtown Columbus area regarding all the new condos/lofts being built in Italian Village and Arena District. For example, how is the area(s), are these apartments worth the costs, is it actually within walking distance to the main attractions in the Downtown area and is it a diverse place. Thank you!

[streetcreed]

There are a lot of responses dealing with the two neighborhoods you mentioned. I really would say that you should use the search feature to try and get the best results.

I live just north of the short north and Italian Village and love living around downtown Columbus. If you want something near parks, movie theaters, semi-good bus service, shops, restaurants, bars, and entertainment then the northern section of downtown (starting at the arena district and all the way up to Ohio State University) is the place to be. This includes the Short North, north Market area, Italian Village, and Victortian Village.

The Arena District is a nice area of downtown but on weekends you will find yourself walking to the short north for more regular entertainment. The streets of the arena district can be a little dead on some weekday nights, but there are some restaurants in the district, a movie theater, the LC for rock concerts, and soon a baseball stadium. However, the restaurants (other than the high end Cotters) are all chains so they are really only great for an occasional visit. But as I stated your very close to many locally owned places just a few blocks away in the Short North and the North Market (an amazing local market is nearby.) The Arena District is the only area actually in downtown Columbus that has a very neighborhood feel and actually has a sizeable number of things to do right at your footsteps after 7pm.

As far as diversity, most of the housing in downtown is high end. The Short North (more Italian Village) has a decently diverse makeup, but the short north neighborhoods are not known as a very African-American areas.

You generally feel that the well off downtown areas are very caucasian yet there are many nearby neighborhoods that are very diverse and you see those people all around. The short north areas are more diverse among incomes (though they are expensive for Columbus there is still some affordable housing but not so much it is unsafe), are diverse by having a sizeable gay population, art population, and a mix of older couples/young couples/singles.

[eclark]

Streetcreed, thank you for your response. You are very informative and sincere in your responses. I appreciate your input.

[YoMikey617]

I would strongly suggest getting a broker that's based downtown. Dooley & Co is more or less credited with bringing back the Short North and Italian village, and their brokers should know the street by street data. 1-3 streets in the Short North or Italian Village can make a HUGE difference, and a broker based in Dublin is not going to know which streets are good or bad.

Avoid the condo developments where there's a huge inventory of unsold units. Such developments are likely become rentals (the unsold units in one building just went on the auction block 1-2 months ago). Rentals bring down the comps and make it difficult for potential buyers to obtain mortgages for your unit. This isn't true in some cities, but Columbus is a very conservative condo market and the metro area is full of troubled developments that are rental heavy (most of which are in the burbs).

Watch out for overpriced flip jobs with poor construction. Don't pay top dollar for someone's bad taste in Home Depot kitchen remodeling skills.

You don't need to pay top dollar for a shoebox sized condo just to be in the Short North. Ohio buyers like space. Ohio buyers also like parking spaces.

I would gravitate toward the smaller developments. If your condo is the same as 35 other units in the same building, you're likely to have problems selling the unit.

Insist on knowing the financials of the condo association. High reserves = lower fees = better resale potential.

And again, GET A BROKER. It doesn't cost you anything and having an informed broker to guide you away from problem properties is better than getting a free ice maker or free washer /dryer from the builder.