SOUTH EUCLUD, Ohio - “It’s kind of like the Phoenix rising up,” said South Euclid Mayor Georgine Welo about new housing on an old school site. “We were hit hard by the foreclosure crisis, we’re in a neighborhood community that was actually targeted, red-lined back in the day.”
“The average sale price is around $325,000 and we’ve seen them go as high as 400,000,” said Michael Love, South Euclid Planning and Development Director. “South Euclid has really finally rebounded well. We are well above where we were back in 2007 for our median housing price. We’re closing in on a 170,000.”
Welo said every one of the 17 homes are sold, and she expects owners to get into the new houses in the next three to four months.
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