PARENTS GET SOLD ON OTR

Lisa Bernard-Kuhn Enquirer staff writer

OVER-THE-RHINE - These days, Jonathan Wood's mother raves about her son's second-floor condo in Over-the-Rhine's growing Gateway Quarter.
"It's just amazing seeing those hardwood floors, the brick walls - the design," says Ann Wood Schlesinger, an Anderson Township native. "They've taken what had been a fairly modest space and finished it to the hilt."

But two years ago, when Schlesinger helped her son with the down payment for his $155,000 Vine Street home, her enthusiasm was overshadowed by harsher realities.

"I've lived in Cincinnati since 1964, and I've watched the stumbling starts and stops of progress in Over-the-Rhine," she said. "Safety was a major concern."

As Over-the-Rhine is transformed into a mini mecca for young professionals, those selling the rehabbed condos and the neighborhood's revitalization plan say a key to their success has been reaching out to parents such as Schlesinger.

Whether it's a little extra cash or just wise advice "parents often help their child make that first purchase, so they have a vested interest in the decision," says Kelly Leon, vice president of communications with Cincinnati Center City Development Corp.

Since 2005, the nonprofit developer has been leading a multimillion-dollar redevelopment effort that's delivered new condos and retail storefronts to Vine, Race and Main streets.

From cocktail receptions and open houses geared to first-time buyers and their parents, to connecting families with neighborhood police officers and getting them out to neighborhood gatherings, reassuring the parents that Over-the-Rhine is safe and a smart investment has become a strategic focus for the Gateway Quarter sales team

"Once they come here and see the secure parking, talk with neighborhood residents and look at what's been done, they realize it's not at all what they thought it was," said Holly Redman, a Realtor with Link Realty and lead sales agent in the quarter.

So far, the strategy is paying off.

Of the more than 100 condos developed in the Quarter, 70 percent have been sold, Redman said.

More than 71 percent of the sales have been to first time buyers and roughly 80 percent of the buyers are 35 and younger.

When Mike Giesler's 23-year-old daughter, Maggie Giesler, began looking for her first home in Over-the-Rhine, the Indian Hill mother was amazed at how quickly her fears were put to rest.

"During our tours, we got to experience the neighborhood at all hours of the day," she said. "We saw so many families with their kids, young adults. It was a great time, and at one point my husband looked at me said, 'Why don't we move here?'"

As for her daughter's thoughts: "It was so vibrant," said Maggie Geisler. "I didn't really have any concerns, at least not any that I wouldn't have with any other city; but I was definitely surprised by how young and energetic it was."

So far this year, 12 new condos have been sold, Redman said, with two more under contract.

Prices range from $80,000 to more than $240,000.

This month, two more condominium developments are slated to open: Lackman Lofts at 1237 Vine St., where prices will start at $143,900, and Mottainai Lofts at 1222 Republic, where prices begin at $134,000.


 

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