Construction is being completed on the first of the four units of VidaNova at Edison Landing but the model unit is opening in a continuing soft residential real estate market.

There have been plenty of interested lookers at Muskegon’s first downtown waterfront residential development but to date, no buyers. Developer Doug Harjer of Grand Haven said he is pleased with what he has created on Muskegon Lake and optimistic the market will respond favorably.

“Never has anything like this been available in Muskegon,” said Harjer, who also developed the Brezza Di Lago condominium inn on Harbor Drive in Grand Haven. “It is right on the water with you being able to be on your boat at your front door. I think this is going to be huge with its proximity to downtown and the (newly completed) bike path.”

The first of 16 units along a waterfront boardwalk have been completed. In the end, Harjer’s development company plans a $15 million, 40-unit project that includes 44 boat slips being sold separately from the residential units.

The model — furnished by Hegg’s Furniture of Hart — was opened for interested buyers in early March. The condos are being sold through Greenridge Realty and real estate agent Mark Gleason. There have been open houses every weekend.

The 1,700-square-foot model is a two-level living unit with three bedrooms and two-and-a-half baths. The master bedroom suite is downstairs with kitchen, dining and living areas. There is a living area upstairs with two bedrooms. The unit features two outside decks.

The price for the initial unit is $375,000, including a one-car garage. Interior units will go for $350,000, Harjer said.

Some who have found the units smaller than what they want are looking at buying two side-by-side units to open up more space, Harjer said. With the remaining three constructed units left without completed interiors, buyers also can opt for a two-bedroom configuration that opens the lower level to more space.

Docks will be sold for $30,000 apiece to anyone who owns a condo or has a business in the Edison Landing business park. Additional garage spaces also are available, Harjer said.

“You usually have to have the landscaping completed on a condo development, getting it looking presentable before you begin sales,” Harjer said. “We are very motivated for the first two or three sales. We will provide some incentives on those initial units. It’s all about getting momentum going.”

Harjer said he thinks a waterfront project such as VidaNova is somewhat insulated from the general downturn in the real estate market found in Muskegon, West Michigan and across the country. He said the VidaNova word is finally getting out and he is happy with the open house traffic.

The initial interest is coming from “empty nesters” from the Muskegon area and young urban professionals, Harjer said. There has not been as much initial interest in the units for vacation or second home purchase, he said.

Residents of VidaNova will gain an unrivaled view of Muskegon Lake.

Plenty of window light shines in the front of one of the condos.

Information from: www.mlive.com

This entry was posted on Sunday, April 15th, 2007 at 10:10 pm and is filed under Condo, Real Estate. Tags: Condo development Michigan Real Estate real estate agent real estate market Realty residential real estate residential real estate market . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.