Developer Mike DeCesare had far greater success with the Waverly Station Townhomes
than he'd originally envisioned. Anticipating that it would take three to four years to sell and build the units, he was surprised to find that he was able to sell all 22 units in about two years. Now he's getting ready to launch his next development, the seven-unit Harborview Townhomes
at W. 54th and Herman Avenue, which offer lake and downtown views.
The developer, who has made the Gordon Square
neighborhood his home and has developed several projects there in the past decade, says this project builds upon his previous work, and the location, design and views are strong selling points.
"They're larger units with higher end finishes and considerably different views," says DeCesare. "They've got some amazing views of downtown and the lake and what I call the 'Inner Harbor,' the area around Wendy Park and the salt mines."
Most of the units are two bedrooms, but a couple of them offer three. All seven units have fourth floor roof decks -- perfect for watching fireworks or Lake Erie sunsets. There also are attached two-car garages and compact backyards.
The units start at $269,900 and top out at $350,000. Bamboo hardwood flooring, granite countertops and stainless steel appliances come standard, according to the website. Green features include a 92-percent efficient furnace and sustainable exterior materials. At present, two of the seven units already are reserved.
DeCesare has not yet received final approvals from the City of Cleveland, but he is confident that the project will be well-received. He has eschewed bank financing, preferring to work with private investors who are committed to the neighborhood. He plans to break ground this year and have the first units occupied by December.
"The fact that we have two in reservation is incredibly encouraging to us," he says.
No city subsidy has been invested in the project, but the units are eligible for 15-year, 100-percent tax abatements on improved value (they pay taxes on the land).
Source: Mike DeCesare
Writer: Lee Chilcote