Construction is scheduled to wrap up soon on the first of many Borror Properties projects in the Short North, just over two-and-a-half years after CEO Doug Borror looked out from his balcony in the Dakota Building and saw promise in a dilapidated warehouse at the corner of East Prescott and North Pearl streets.
His company built a four-story, 24-unit apartment building on that site – now called the Prescott – that is well on its way toward filling to capacity, with over half of the units currently spoken for.
The first residents are scheduled to move into the Prescott before the end of the month, while another Borror project – a 16-unit building at 40 West Third Avenue – should see it’s first residents by the end of the year. Not far behind is Truberry on Summit, six condos at the corner of First and Summit with asking prices north of $500,000.
Also under construction is the Jerome, located on Dennison Avenue in Victorian Village, which broke ground in May and is scheduled to come on line before next summer. And next door to the new 40 West building, renovation work continues on a historic single family home that could be sold as a residence or rented out as office space.
We recently checked in with Executive Vice President Jeff Baur and Director of Apartment Operations Danielle Sugarman for an update on the projects. Baur explained that as the company’s focus has broadened – from planning and building, to now also marketing, selling and leasing – the need for a physical presence in the neighborhood became apparent.
In June they opened up a sales and leasing office at 864 North High Street, and have been pleased with the early returns, on both the sales and rental sides.
“It’s helped immensely,” he said, “it’s been an incredible way to showcase what we’re doing, especially with no model units ready to be able to take people to.”
“The fact that we’ve been able to lease apartments without people seeing a single thing speaks to the great team we have and to the quality of the product,” said Sugarman, adding that a big-screen tv with 3D renderings and material samples in the office help to give potential renters an idea of what the units will look like.
Prices range from $959 for a studio in the Prescott, to $2,399 for one of the four penthouse units. 40 West will have a similar price range, while prices have yet to be set for either the Jerome apartments or the three-story brownstones planned for the southern end of that project, to be called Truberry on Second.
Sugarman said that they’re already fielding inquiries on those, further evidence that the for-sale market in the Short North is showing no signs of slowing.
For more information, visit www.borrorproperties.com.
Photos by Jonathan Firsdon.
