The allure of a trendy, up-and-coming neighborhood is undeniable. The potential for appreciation, a vibrant community on the rise, and a cool, unique vibe all hold immense appeal. But let’s face it: buying a home in a transitional neighborhood like Cuyahoga Land Bank’s new Circle East District at the gateway to University Circle in East Cleveland can also raise a few questions.
Here, our friends at Realty Reimagined tackle some of the most common questions asked about buying a home in a transitional neighborhood:
- Is it safe?
Safety is a top concern for any home buyer, but a well-designed neighborhood prioritizes safety not just with patrol cars, but with its very infrastructure. While no neighborhood is perfect, the Circle East District is being developed with safety in mind.
Phase I of Circle East District’s housing development features well-lit roads, sidewalks and an abundance of trees. (Did you know that studies consistently show the connection between tree-lined streets and safety?) Housing design with security systems and cameras, greenway with foot traffic. There are many initiatives to foster a safe neighborhood allowing residents to truly enjoy their community.
- Tell me about the area schools.
School quality is a major factor, especially for families. East Cleveland offers a unique advantage for families seeking educational opportunities. The city boasts convenient access to a wide range of educational options – from nearby Benedictine High School to the prestigious Mastery School of Hawken and the CMSD’s Cleveland School of Science and Medicine, as well as many options in nearby Cleveland Heights, Shaker Heights, and University Heights. Public high schools in surrounding areas consistently rank well, providing a variety of academic focuses for students.
For those with younger children, well regarded preschool options like the Cleveland Music Settlement and Cleveland Montessori School are minutes away. Ohio’s Educational Choice Scholarship (EdChoice) Program provides students from designated public schools the opportunity to attend participating private schools. The program also provides students who are entering kindergarten through 12th grade scholarship opportunities based on their household income level.
Additionally, East Cleveland’s proximity to world-renowned universities like Case Western Reserve University (CWRU) and Cleveland State University opens doors to exceptional higher education opportunities. In fact, CWRU’s Cleveland Scholars Program covers the full cost of attendance to all admitted graduates from both the Cleveland Metropolitan School District and East Cleveland City Schools.
This variety ensures that students of all ages and academic aspirations can find the perfect learning environment to thrive, all within a close radius of East Cleveland.
- How are the city services?
Safe streets, reliable trash collection and well-maintained parks are more than amenities; they’re the backbone of a functional and enjoyable neighborhood. Reliable police and fire departments ensure your safety and peace of mind. Efficient trash collection keeps your surroundings clean and sanitary. Well-maintained parks and libraries provide recreational opportunities and enhance the overall quality of life. The City of East Cleveland has prioritized the Circle East District and made major investments in infrastructure and top-notch city services.
- Will my property value increase?
There’s definitely potential! Up-and-coming areas often see significant property value growth over time.
- Are there employment opportunities and how is the commute?
If job proximity is a priority for your homebuying decision, Circle East District offers residents an easy commute to potential employers among Cleveland’s thriving medical hub (Cleveland Clinic and University Hospitals), Downtown Cleveland and many inner-ring suburbs.
- Tell me about the social amenities surrounding the area.
Location, location location, #amiright? While many up-and-coming areas might be lacking in amenities initially, East Cleveland is just steps away (265 steps if you’re counting) from the vibrant cultural center of University Circle and Little Italy. Downtown Cleveland, Edgewater, the buzzing pockets of Cleveland Heights like Coventry and Cedar-Lee, and Shaker’s Van Aken District are all just short drives away.
- Are there future development plans?
New homes being built in Phase I of Circle East are just the beginning. After the successful completion of Phase I, plans are to build eastward starting with new homes on Penrose Avenue and the development of new commercial and recreational amenities along Euclid Avenue. Several other new development projects are in the works, including a proposed $100 million mixed-used development on Euclid Avenue.
- Are there greenspaces and other family-friendly areas nearby?
A linear multi-use greenway (including a play area) will breathe new life into formerly vacant lots in the neighborhood, enriching the neighborhood by promoting a healthy lifestyle, fostering a sense of community and contributing to a more sustainable environment. In addition, the Cleveland Metroparks is expected to assume management of the nearby 170-acre Forest Hill Park. The incredibly scenic and historic Lake View Cemetery is also in your backyard – literally.
- Is it less expensive to buy in a transitional neighborhood?
With attractive financing terms and the potential for a 15-year 100% residential tax abatement on all new construction residential properties, Circle East District promises attractive pricing on all its new homes.
- Are there resources available to help me make an informed decision?
Partnering with a knowledgeable real estate agent who specializes in transitional neighborhoods can provide valuable insights and guide you through the process.
Buying in an up-and-coming neighborhood can be an exciting adventure. By asking the right questions and doing your research, you can make an informed decision and potentially find your dream home in this thriving community.
Remember, your ideal neighborhood is a place that complements your lifestyle, not just the house itself. By considering these factors, you can ensure you find a community that feels like home. Happy house hunting!