Van Aken Boulevard Condos/Redevelopment (Cleveland, Warren: condominium, home, employment)

[mxx]

I've looked at condos on the North Side of Van Aken Boulevard in Shaker Heights. Their prices halved during the great recession and haven't recovered. Does anyone know why and have an opinion on whether or not the redevelopment going on in the area will hurt or help the future prices of the existing condos in the area?

[dr_j_planning_shaker]

I strongly encourage you to contact Joyce Braverman (Shaker Heights Planning Director) and Tania Menesse (Shaker Heights Economic Development Director) to learn the latest information about the Van Aken District project. I decided to purchase my single-family home in the Thornton Park neighborhood (east of Warrensville/north of Chagrin) this past January because of the Van Aken District project and other positive developments underway along the Blue Line corridor between Downtown Cleveland and Shaker Heights (e.g. brand-new rapid station in the municipal center at Van Aken/Lee). The Van Aken District project means a more walkable, accessible, transit-oriented, mixed-use town center that will better connect the Sussex, Van Aken/Winslow and Thornton Park neighborhoods. I love walking to stores, restaurants, the rapid, the park and my church. The proposed development for the Van Aken District will enhance existing retail options, the end-of-line rapid station, the pedestrian environment and community cohesiveness. While I am not an expert on the particular condominium buildings that interest you, I anticipate road reconfiguration and new development will make the area more desirable and, therefore, increase demand. I also think this location is well-positioned with respect to the three largest (and growing) employment nodes in the region: Downtown, University Circle and Chagrin Highlands.

[mxx]

Yes, but....it is taking a chance on a property that has halved in value...just a bit afraid.