A Columbus-based real-estate firm is considering the development of high-end, two-story condominiums at the corner of Tremont Road and London Drive.
Fairway Realty had informal discussions with the Upper Arlington Board of Zoning and Planning on Monday, Jan. 7, regarding the possible development of 11 condo units in six buildings at 3426 Tremont Road.
Although no plans have been submitted to the city, Fairway President Mark Catalano told board members during their Monday work session he was considering building two-story condos that could have up to four bedrooms at the southeast corner of Tremont and London.
He added his company tentatively plans to market the units for $450,000 to $500,000.
"They're all going to have outside patio areas," he said. "They'll be designed so that you can have either one or two bedrooms upstairs or down. They will have about a 900-square-foot basement."
Following the meeting, Catalano declined further comment on the project, citing the preliminary nature of the plans.
Board members, however, expressed excitement over the prospect of bringing the "upscale" units to the city.
"It's not an apartment-like condo," said Cindy Holodnak. "It's a home."
Holodnak also cautioned Catalano against making the condo purchase prices too low, saying $450,000 appeared to be a good value for the product that's being discussed.
"It seems to me like that's a steal," she said.
According to Upper Arlington Community and Economic Development Manager Bob Lamb, Fairway has indicated it would have two floor plans available to those interested in purchasing the condos.
He described them as "high-end condos with two stories."
"This lot is currently vacant," Lamb said. "It is my understanding that the neighbors are not opposed to this use and I believe this lot accommodates this type of residential project."
Lamb said it's too early to determine what the economic impact such a project would have on the city, but he noted new construction is a benefit to Upper Arlington and the preliminary proposal, if completed, would continue to diversify the local housing stock.