With just 50 percent of its units sold — despite construction having begun on the development in January 2007 — The Clarovista at 6238 N Broadway St in Edgewater has cut prices on some of its units by as much as 50 percent. The price cuts, which were announced last Friday, will stay in place for the next 40 units sold, says Jameson Real Estate agent Brant Booker.
One-bedroom / one-baths, which originally started in the $200s, now start in the $100s. Two-bedrooms with one to two baths are down from the $300s to the $150s, and three-bedroom / two-baths are down from the $350s to the $270s.
The development is also offering below-market interest rates through National City Mortgage. Lending options include 1.5 percent off interest rates for loans up to $417,000, and a 0.625 percent discount off rates for loans up to $650,000.
The 160-unit development, formerly called “The Granville,” begin deliveries in October of last year.
• A few views of The Clarovista’s model units (Jan. 29)
• Construction update: The Granville (Sept. 9)