It’s a condo conundrum [Central Ohio]
The “for lease” signs are going up at central Ohio condominium complexes, to the chagrin of owners who paid full price to buy there.
Developers who have been trying to sell condos in a weak real-estate market now are offering to lease them with the option to purchase, while slashing prices. The deals are being made in far-reaching suburbs as well as Downtown.
MAS Cos., for example, planned 60 town-house condos next to Cumberland Trails golf course in Pataskala, with a heated pool and clubhouse and not far from other condos and single-family homes.
Two years later, only 18 condos have been built at Cumberland Chase, as the complex is called, and only two have owners.