The Observation Deck

There is a house that is under renovation with a big First Federal of Lakewood sign on the tree lawn.. Very nice! If that was a double then they did one hell of a job!!!! Bunts and Lakewood Height Blvd


http://maps.google.com/maps?ll=41.47068 ... &hl=en&t=h

I did hear there was a double conversion in that area...so that must be it. I hope there are more to come.

I have heard that it is almost not economical to do such a conversion. Does anyone know if you make you money back in resale value? Sounds like a great plan but will it fly?

Jim DeVito wrote:I have heard that it is almost not economical to do such a conversion. Does anyone know if you make you money back in resale value? Sounds like a great plan but will it fly?

In the short term it may ( I have seen no facts and figures)not be economical but in the long term it will be necessary for the city to make it economical for investors. (in my opinion)

It's not an entirely new idea....There is a "newer" brick side-by-side on Lake, South side, just west of Edwards. It used to be a double....but the previous owner Cindy Sawyer, did a conversion, maybe 30 years ago. As I recall, the result was featured in the PD, living section.

Jeff

I agree that it will be the future of Lakewood to convert a lot of doubles into singles. My wife and I thought about it because of the attractive financing First Federal is putting up. May still happen who knows! Keep the same tax base but lose half the people you need to provide social services for. The city should be pushing this program more than they are.

If you want a 5 or 6 bedroom house, it might be the only way to get one in Lakewood short of spending a million on a mansion.