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' iiealtvrs Slnce 1803 <br />Mentor bff(ce 8804 Mentar Avenue Mehtor, Ohio 44060 (216) 951-9494, 255•6731 <br />Oct. 1990 <br />At the request ot homeownere Manfred and Gretchen Trot,bner <br />4785 Clague Rd., North Ulnisted. <br />T Iiave been aeked to render my profe5sional opinion regarding.che pending <br />apartment complex projected for the Clsgue Road-Rrookpark, area of NorCh 0].msted, <br />and its-effeCt on the va].ue of -the Troi.bner's home. <br />Tlie introduction of 130+ rental units in ttiis reaidential nEighborhood woul.d seriously infringe on the desireabillry ot tihis area for this reason.; the increased <br />_.traf:fic would be both danseroue to yavng familiee with small children, and tlie <br />n.oise would ].imit a cereain number of neopl.e whq would be sensitive living in a <br />hQme:.with a multitude of renesl unies across the streeC (and the number of csrs <br />this would involve). As I have witnessed in my 13 years in the real estate <br />busincas; sny time that circumstances limit the uee, desireabiliey or number <br />of people"+that would Ue interested in buying thsti property, value suffers. The <br />propo$ed apsrtuient. complex wouTd limit the markeC for thie tiUme li}+ excluding <br />young faniilies (married eouples age 25 -40),with young children. Thie wou]_d be a serious marketi loss fvr this and the neighboring homes, as the excel.lenti Nortih <br />? Ol.msted schuols are a draw for that exact profile buyer - the buyer who would no <br />longer be interesCed in the Troibner's home, or the neighboring homes. Other .. <br />groups of buyers who may be affected as well ara elderly people who may be <br />concerned of.xhe noise', and $ittgle Fetnales who may+.be e4ncerned about the safety <br />factor, due to Ctie tact that apartment dwellers tend'to be tiraiidient, non-iamily <br />xnd non-community oriented, as compared to homeownera. <br />It would be_difficult to measure exactly how much the real estate values would <br />suffer, Uut the current.SS-per-year appreciation may halt., and niay even reverse <br />109 or more, depending on tl-te location of the entrance and 'otlier aesthetics. <br />24 O, ffpce Loccrtions Servin Northcastern ? <br />g JJO