.:: The Avenue District ::.

development Building with Zaremba. Homes For The Hip Living Downtown Exterior Renderings	living-downtown In cities all over the United States and Canada, people are re-discovering the joys of living in urban centers. Since the 1990's, America has seen interest in downtown dwelling grow by 10%, and Cleveland is no exception. From rehabbed buildings in Cleveland's historic Warehouse District to the exciting new entertainment district springing up around E. 4 th Street, to the sports venues of Jacobs Field and Quicken Loans Arena, downtown Cleveland is no longer just a place to punch a clock. It is a dynamic, emerging neighborhood of shops, restaurants, and homes, all set in the unique urban atmosphere only a downtown can provide. It is because of this new feeling of possibility that Zaremba is proud to build the first for-sale homes in The Avenue District neighborhood. Currently, for-sale housing makes up only 3% of Downtown Cleveland's housing mix, but that is about to change. The Avenue District will feature over 400 for-sale housing units, including exciting "loft" style condos, luxurious penthouses, live work townhomes, unique studio lofts, and traditional three-story townhomes. The Avenue District will also incorporate street-level retail space. Birch, Eugenie L., “Who Lives Downtown”, The Brooking Institution, Metropolitan Policy Program, November, 2005. Tax Abatements Does a tax abatement sound good to you? The City of Cleveland thinks it will and is exactly why they are offering a 100% property tax abatement for 15 years. All new residential construction projects, like The Avenue District, and other redeveloped properties are eligible for this incentive. Now is the best time to purchase your dream townhome or loft. Through this program a buyer is tax abated 100% of their property taxes for 15 years. What an incredible opportunity for savings! Based on the 2004 tax year, the property tax rate for purchasing a new home in Downtown Cleveland was 1.99%. As an example, a new home in Downtown Cleveland costing $300,000 would save the buyer $5,970 a year --nearly $500 a month and $90,000 over the life of the incentive. What an impact these savings could have! During the life of the tax abatement, the homeowner is required to pay only the minimal real estate tax on the value of the land. The average tax for homeowners in Zaremba's Woodhaven Development in the Cleveland Fairfax Neighborhood is only $40-$50 per month. This fifteen year tax abatement is also fully transferable at any time. This would allow someone wanting to sell their home after five years to pass the tax abatement incentive onto the next owner for the remaining ten years. With the rebirth of city living, long commutes, the increase in fuel prices, and great incentives like tax abatements, what are you waiting for? Buy a new home at The Avenue District and start saving! All Avenue District residents receive a complimentary one year membership to the Cleveland Athletic Club!

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The information on this website and in all printed materials is for reference only and not part of a legal contract. Builder reserves the right to make alterations or substitutions regarding floor plans, features, elevations, site plan and materials. All dimensions and square foot figures are approximate. All photos are representative and for demonstration only. Homes pictured may be altered from standard plans. Renderings and line drawings are artist/architect generated and for demonstration purposes only.

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living-downtown