Important Real Estate Projects In Shaw Progressing
Over the last few months real estate in Shaw has been especially busy. Multiple rehabs have been sold within 30 days of listing and at over 95% to asking price.
In addition to the rehab sales, 4136-38 Flad has been approved by Cultural Resources and is currently being marketed on the MLS. It is a 2200 sq. ft. 3/2.5 bath energy certified home located on two lots in the heart of the Shaw Neighborhood. Developer, Jay Swoboda from EcoUrban homes, is excited about the opportunity and has seen some early interest.
The project at 4100 Detonty has financing in place and is days away from starting according to the developer, Courtney Mccray. This will be an affordable home priced in the $160s and will be about 2000 sq. ft 3/2.5. LRA is in the process of transferring ownership to the developer and should be completed shortly. Look for a dumpster on the site soon. 4100 is the burned out vacant building on the corner of Thurman and Detonty. It’s renovation will be a positive sign for the drivers along hwy 44.
4012 Shenandoah (long vacant building) will be developed by Garcia Properties. The building has a beautiful limestone facade. Work is expected to start within 30 days. The property is in the process of being transferred by LRA to the developer. Plans have been approved and financing is in place. Garcia properties recently developed 4059 Castleman and completed the construction and sold the property within 5 months of starting.
4247-49 Russell (another long vacant building) will be developed by Dave Weitz and Joe Lengyl. They will convert the 4 family building into two townhouse properties which will sell between $150-180000. The units will be 2200 sq. ft and have 3 bedrooms/2.5 baths.
4048 Cleveland, Chad Murray from Frontier holdings, is renovating the building into 6 high end rental units. The project will be completed in 3 months. I walked the space two weeks ago and the units will be beautiful. They are large and have incredible historic details. 4048 Clevelnad is one of three buildings in a row on this block. One has “Tower” above the front door. The next has “Grove” and the last has “Park”. Even the builders knew the importance of being close to the Park!
There are several additional projects in the pipeline and I will update the blog as actvity develops.