The developer responsible for building “Cottage Hill” along Columbia Tusculum’s Strafer Street is now seeking the community’s approval for a six-unit townhome project.
On Monday, Gary Osterfeld presented to the community council what he called “very preliminary” sketches for the attached buildings at the bottom of Strafer Street – along Columbia Parkway – which would likely be around 1,900 square feet apiece and could be either apartments or for-sale homes.
The site is currently undeveloped and is used as a small community gardening space. If he pursues the project, Osterfeld will be seeking a zoning variance from its current zoning classification of community commercial-mixed to residential mixed, as it would have no commercial component.
“The commercial market in Columbia Tusculum is not real good, despite what people may think,” he said. “The problem is, relative to the number of people, there’s more retail than there is need for it. There’s already more retail than there is people; so in order for businesses to come in there and be enough demand and for the businesses to be profitable, we need more people.”
Osterfeld also told the community council that Al. Neyer’s Columbia Square, which is located directly across Columbia Parkway from his proposed building site, took five years to fill with tenants. He also said that he’s been trying to market his site for about the same amount of time but “hasn’t had a single serious call”.
The site is also challenging because of its steep slope and six-foot retaining wall, which Osterfeld said the City would likely want to keep in place.
“The idea of the zoning in place – what they would like to see – is they would like to see retail on the street level, so that people can walk in the shops like Hyde Park Square or Oakley Square – or like most squares – and the upstairs is residential,” he said. “The problem with that is you don’t see hills in Hyde Park, Mount Lookout, Oakley. The other neighborhoods you don’t see built on a hill like this. So the topography does not lend itself well to what the City’s insisting be there.”
The earliest the project could begin is this fall. Price points are expected to start in the mid-$300,000s, based upon what Osterfeld has seen of the local market.
“My guess is that it’s probably going to be a younger, more transient market,” he said. “There’s going to be a lot of steps, the price point’s not going to be like [the Cottage Hill development on] Strafer. I think that Strafer started out in the upper 3’s [$300,000s] and ended up in the upper 6’s [$600,000s]. I don’t see that happening. But we’re designing it to try to accommodate anybody. We’re going to be as flexible in our design as we can.”
Osterfeld said he plans to keep the neighborhood notified as the proposal navigates the maze of design, variances and permits.
“The City would like to have neighborhood support and neighborhood cooperation, as would I,” he said. “Your interest is what’s good for the community. So, I’m trying to help with that.”