Toledo, OhioThe city of Toledo is located in northwest Ohio and is strategically positioned in the heart of the Michigan-Ohio-Indiana tristate region. The University of Toledo reported 23,000 students in 2015 and its nationally ranked programs offer a strong draw for graduate students, educators and researchers in the fields of medicine, technology and law.
Toledo is comprised of a variety of neighborhoods that reflect the diverse character of the city. One of those neighborhoods is Ottawa Park, which has been the primary focus of the funds acquisition strategy. Ottawa Park sits on 305 acres and it features a bike trail, 18-hole golf course, tennis courts, outdoor ice rink, a 19-hole disc golf course, picnic areas, jogging and nature trails, and playgrounds. The market in Toledo has continued to show opportunity for investment throughout 2017; and we expect market rents and demand to continue to increase through 2018. Watermark Toledo Market Report For other info on the Toledo area please see: |
Ypsilanti, MichiganThe city of Ypsilanti is located six miles east of Ann Arbor and 35 miles west of Detroit. Ypsilanti is relatively small, comprising circa 4.5 square miles and claiming a population of approximately 21,000 in 2015. The city is home to Eastern Michigan University (EMU), which is gaining strength as a draw for Midwestern and internationally-based students as its colleges consistently rank on national surveys of accredited universities (e.g. EMU’s College of Business, was named in 2015 one of the best in the nation for the tenth consecutive year by the Princeton Review).
The neighborhoods of Watermark’s residential properties in Ypsilanti are stabilized by their proximity to EMU’s main campus and they afford residents walkable proximity to EMU, restaurants, shopping and entertainment. At the many Watermark residential properties, moderate rental increases have been realized early on with no lapse in occupancy when a unit becomes available. For other info on the Ypsilanti area please see the Trulia market overview and Ypsilanti Market Study (produced by students of UofM). Top Employers in Washtenaw County and Top Employers in Ypsilanti |
Lansing & East Lansing, Michigan |
Akron, Ohio |
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Lansing, Michigan’s 5th largest city and home to approximately 115,000 residents (464,000 residents in Lansing Metropolitan Statistical Area), is a diverse community that offers residents a dynamic living environment with mix of urban conveniences and suburban comforts and tranquility. Lansing is the State Capitol of Michigan, as well as the business, cultural, and educational center of Mid-Michigan. Strategically located along I-96, Lansing is positioned halfway between Michigan’s two largest cities-Detroit and Grand Rapids. Several interstates and highways converge on this region, including I-96, I-496, I-69, M-43 and US-127. This location facilitates commutes and enables convenient access to all of Mid-Michigan for residents and businesses alike. The current unemployment rate in Lansing is significantly lower than state unemployment rates which are in turn below national averages.
Lansing is presently experiencing a revitalization of the downtown districts, REO Town and Old Town. The local economy is diversified, with economic anchors such as the State Government (15,500 employees); Higher Education- Michigan State University (12,000 employees), Thomas M. Cooley Law School and Lansing Community College; Industry- General Motors (11,000 employees) and Healthcare- Sparrow Health System (6,000 employees) and Ingham Regional Medical Center (3,000 employees). For more info about Lansing see this CoStar Lansing Multifamily Market Analysis. Additional resources: East Lansing Major Employers |
Located in Summit County roughly 40 miles South of Cleveland, Akron is the fifth largest city in the state of Ohio. The 2015 American Community Survey shows that 198,329 people call Akron home. It is a mid-sized city just over 62 square miles, with a population density of 3,197 persons per square mile. Comparing other similar cities, Akron is roughly the same size as Montgomery, Alabama (200,602), Grand Rapids, Michigan (195,097) and Little Rock, Arkansas (197,992). It is a relatively young city, with the largest population segment ranging from 25 to 34 years old (14% of total population). Akron has a 38.5% minority population, and a very low culturally Hispanic population (2.1%). Akron follows a similar pattern for city this size with an owner-occupied rate of 52.3% and a renter-occupied rate of 47.7%. More than 30% or persons 25 years of older have had some college education with 20.4% having a 4- year degree or higher.
There are 13,757 business establishments in Akron. The largest industries by quarterly employment levels are:
Quantitative analysis aside, quality of life is a major factor in people choosing to where to live. Akron has a high concentration of amenities that provide both young and old a variety of entertainment, dining, culture and outdoor attractions. Whether you are catching a concert at Lock 3 pavilion, a football game at the University of Akron’s InfoCision Stadium, or a baseball game at Firestone Stadium. Visit popular destinations such as the Akron Zoo, Stan Hywet Gardens, and the Akron Art Museum. Akron is home to literally hundreds of unique restaurants and shops which bring visitors in from all over northeast Ohio. |
Kalamazoo, Michigan |
Sandusky, Ohio |
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Kalamazoo is a medium sized city located in Southwestern Michigan with a population of 75,499 persons. With an incorporated area of 24.68 square miles it has a population density 3,058.6 persons per square mile. Kalamazoo is the home of Western Michigan University, a large public institution with about 24,000 students, the Broncos football team, for the first time in school history, was invited to the 2017 Cotton Bowl in Dallas, Texas with a season record of 13-0. Located in Kalamazoo County, it is the major component of the Kalamazoo/Portage/Battle Creek Metro area. One of Michigan’s resurgent cities, it is famous for the number of craft beer breweries, Kalamazoo alone has seven and the metro area contains 11 individual breweries. Kalamazoo’s most famous and Michigan’s largest craft brewery is Bell’s Brewery, Arcadia Brewing is becoming more popular every year by creating new brews and ramping up their output nearly 10-fold since 1996. Kalamazoo is home to several major global institutions such as:
1. Pfizer Pharmaceuticals (originally Upjohn Pharmaceuticals) 2. Stryker Corporation – manufacturer of high end medical equipment 3. Parker Hannifin Aerospace (hydraulics division) 4. Zoetis Pharmaceuticals – largest producer of global animal and pet medications 5. Bronson Methodist Hospital 6. Borgess Medical Center 7. Western Michigan University 8. Newell Rubbermaid 9. Upjohn Institute of Employment Research W.K. Kellogg Company is headquartered in nearby Battle Creek, MI. Kalamazoo is home to the Kalamazoo Wings Hockey Club, an ECHL member, which is a developmental league for the NHL. It is home to Air Zoo, Michigan’s largest air museum with several dozen aircraft on display from all eras of flight. It is a stop on two AMTRAK line routes, the Wolverine Line (Detroit to Chicago) and the Blue Water Line (Port Huron to Chicago). Both lines connect major Michigan border crossings with Canada via Windsor and Sarnia. Kalamazoo is a city on the upswing and an exciting place to live, work, and play for young urban professionals and families alike. Additional Resources: |
Sandusky is a Great Lakes port community and County seat of Erie County with an estimated population of 25,000 (total population within a 15-mile radius is 112,000). The City of Sandusky has a unique location on the Southern Shore of Lake Erie midway between Cleveland and Toledo.
Sandusky has one of the largest Great Lakes coal ports. Lake-oriented industries, fishing and shipping add to a well-diversified industrial base of foundries, automotive parts, metal fabricating, construction products, plastics and vinyl products, colorants, paints and food processing equipment manufacturers. Cedar Point is The Roller Coaster Capital of the World with 17 thrilling roller coasters and receives 3 million visitors each summer. Sandusky is also home to the Firelands Regional Medical Center, with over 200 physicians and a hospital staff of over 1,900 employees. Watermark Sandusky Research Report |
Monroe, Michigan |
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Monroe is located on the western shore of Lake Erie. The United States Census Bureau lists Monroe as the core city in the Monroe Metropolitan Area, which had a population of 152,021 in 2010. The city is sometimes unofficially included as a northerly extension of the Toledo Metropolitan Area.
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