Project Update: View on High and View on Fifth
Developer Jerry Solove has seen lots of early interest in both The View on High and The View on Fifth, mixed-use developments featuring retail, structured parking, and apartments targeting the upscale student market.
“We’ve had a very strong response, numerous calls on both projects,” said Solove, explaining that preleasing has started on the View on High, and will start soon for the View on Fifth. Both developments are currently under construction, with delivery of the first units on Fifth scheduled for June of next year, while the High Street project will not open until late 2014.
Solove is developing the projects with Mike Balakrishnan under the name of JSDI Celmark. The View on High is located at 2020 North High Street on campus and the View on Fifth is at 965-1015 West Fifth Avenue in the Fifth by Northwest neighborhood.
Solove said a number of prospective residents have actually signed up with the intention of living in both projects; they would move into the View on Fifth in August of 2014 (in time for the start of fall semester), and then move to the View on High in January of 2015 for spring semester after that building is completed. Solove added that JSDI Celmark would even help these apartment jumpers with the move and provide furniture for them in the View on Fifth (all units in the View on High will come fully furnished).
A representative of Hometeam Properties, who will be managing both properties, said that rents for the View on High will probably range from $1,400 to $1,700 for a one-bedroom apartment and from $920 to $980 per bedroom for a five-bedroom unit. Rents haven’t been set yet for The View on Fifth.
As for the retail component, Solove said that they’ve had “extensive discussions” with several retailers who are interested in space in both projects – there’s about 24,000 square feet available in the View on Fifth and about 3,000 square feet of space alongside Wendy’s in the View on High. He added that the six-story garage that is part of the Fifth Avenue project will be free for customers of the retail businesses.
When asked if JSDI Celmark has any plans to replicate the model they’ve established with these two projects, Solove said that they are actively pursuing several opportunities in Ohio, and have one project in Austin that will be starting construction soon.
“We like the brand we’ve created,” he said. “With the quality community space, outdoor and indoor recreation space, and the view provision; we’ve put a lot of time into the design and amenity package for these projects.”