Condo buyers take liking to Arena District projects

Condo buyers take liking to Arena District projects

Brian Ball

Business First

Three condominium projects in or on the fringe of Columbus’ Arena District have experienced robust sales, even as their owners pursue divergent selling strategies.

The developers of Burnham Square, Eclextion Lofts and the Buggyworks have begun closing sales of their residences as construction on the projects enters the final few months.

Bill Shelby, president of Spectrum Properties Inc., said the company’s 57-unit Eclextion Lofts at 221 N. Front St. has five units unsold, including two penthouses it will begin building soon.

“We’re pretty strategic about (the marketing,)” Shelby said. “I like to think it’s more than just a hot market.”

Spectrum’s marketing emphasizes what Shelby calls “velocity pricing.”

“We study the market, try to figure out where we need to be and what kind of product we can offer for that price,” he said. “We then design to the product demand.”

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