Although the housing market has cooled, sales for one Milwaukee condominium project are going well. Cambridge River North, a five-story, 48-unit condominium development planned by Cassidy Realty LLC, has sold 30 percent of its units and will break ground this summer, the company announced recently.
"We’re thrilled to see immediate interest in Cambridge River North," said Cass Stephens, owner of Cassidy Realty. "Considering how slow the market is, sales have exceeded our expectations."
The $14 million development will be built at 2077 N. Cambridge Ave., about one block south of North Avenue on Milwaukee’s east side. It will sit on a bluff overlooking the Milwaukee River and the downtown skyline.
About 70 percent of the units cost less than $300,000. The most expensive unit is $450,000.
For a limited time, Cassidy Realty will guarantee each person who buys a unit in Cassidy River North a 3 percent appreciation by the time they move into the building. The project is expected to be complete in time for residents to move on during the summer of 2008.
"We’re so confident about what a great investment this project is that we’re wiling to pass that confidence on to our buyers in the form of a guarantee," Stephens said.
More information about Cambridge River North is available at www.cassidyrealty.net.
