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April 5, 2014
On our scouting trips we often find urban "hot" spots where there is real change, and opportunity is growing.
In Cleveland, our latest investment city, the hottest spots for the Cleve-hip resides in two locations: downtown (E. 4th Street) and Tremont.
The downtown location is all about urban and restaurant living and is truly a tight, cool area, but don't wander too far. Everything is great in the tight nine block area going east from the old Terminal Tower Building (now a great casino and shopping mall complex) to Playhouse Square. Lofts and apartments are sold out and more are being built in great old buildings as I write this. The E. 4th Street restaurant scene is as good as any big city.
But Tremont area is more like a country town in the middle of the city. It has great old houses, Lincoln Park, and some of the best and hippest restaurants and bars in town. Cleveland is fighting back and Tremont and Downtown are two examples of how it is working.
We're investing right now in duplexes in nearby west side of Cleveland areas.