Mariemont is a desirable community to raise families, and many residents wish to remain in the community through their retirement years. Adequate housing options, however, have generally not been available especially for empty nesters and senior citizens. New multi-family housing is required to accommodate both condominium and apartment residents' requirements for the future.
housing stock status:
The village has maintained its housing value even through this current recession, as the community continues to retain existing residents and attract new families as well. We can thank Mary Emery for the well conceived town plan (walkability, available necessary services, architectural context and landscape) and the award-winning schools for Mariemont's ability to retain its value. As homeowners age, however, many wish to forsake their own building maintenance requirements yet remain in the village. Until the construction of Jordan Park, however, only limited options for condominium living were available in the village while no condo options offered single level flats available by elevator (units with no interior living space stair).
At the same time, Mariemont's apartment housing stock (built between the 1930's and 1950's) is aging quickly. As seen in the current school facilities issue, dated building infrastructure of that vintage requires costly maintenance or replacement and, combined with landlords' tax and energy cost burdens and limited market rents, many apartments are unable to keep up with required maintenance and repairs. Many apartment buildings in the village are financially stressed and visibly so, as evidenced by irregular building maintenance and unkempt grounds.
conclusion:
New housing stock is required to expand village housing options for prospective condominium owners, particularly entry level buyers, residents looking to downsize from their current residence, and seniors. Similarly, new energy efficient green housing stock is also required for apartment tenants as landlords are increasingly unable to maintain profitability in their aged structures. If Residence D is approved, new residential development projects will be possible and Mariemont will continue to retain its property values and grow for the future. Displaced residents from apartment buildings subject to redevelopment, meanwhile, generally have the opportunity to relocate within the village's 500 apartment units if so desired (as seen with the Jordan Park project). Vote YES on Issue 42 Residence D.
housing stock status:
The village has maintained its housing value even through this current recession, as the community continues to retain existing residents and attract new families as well. We can thank Mary Emery for the well conceived town plan (walkability, available necessary services, architectural context and landscape) and the award-winning schools for Mariemont's ability to retain its value. As homeowners age, however, many wish to forsake their own building maintenance requirements yet remain in the village. Until the construction of Jordan Park, however, only limited options for condominium living were available in the village while no condo options offered single level flats available by elevator (units with no interior living space stair).
At the same time, Mariemont's apartment housing stock (built between the 1930's and 1950's) is aging quickly. As seen in the current school facilities issue, dated building infrastructure of that vintage requires costly maintenance or replacement and, combined with landlords' tax and energy cost burdens and limited market rents, many apartments are unable to keep up with required maintenance and repairs. Many apartment buildings in the village are financially stressed and visibly so, as evidenced by irregular building maintenance and unkempt grounds.
conclusion:
New housing stock is required to expand village housing options for prospective condominium owners, particularly entry level buyers, residents looking to downsize from their current residence, and seniors. Similarly, new energy efficient green housing stock is also required for apartment tenants as landlords are increasingly unable to maintain profitability in their aged structures. If Residence D is approved, new residential development projects will be possible and Mariemont will continue to retain its property values and grow for the future. Displaced residents from apartment buildings subject to redevelopment, meanwhile, generally have the opportunity to relocate within the village's 500 apartment units if so desired (as seen with the Jordan Park project). Vote YES on Issue 42 Residence D.
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