Property for Boland Place closing in August, agent confirms

So far nothing has gone through the Richmond Heights building department on the 187-unit Boland Place apartments following the  city council’s approval of the project in February.

Staff members said on Friday that demolition permits have not been requested and code approval hasn’t taken place, which is needed before demolition.

Update: City manager Amy Hamilton has said that developer Joseph Cyr plans to close on 1313 Boland Place in August.

Richmond Heights city council approved developer Joseph Cyr’s plan to build the apartments at Boland and Dale in February. Cyr hasn’t responded to contacts for updates.

Update, 6/27: Cyr asked the listing agent for  the property, Peter Newton, to respond. Newton confirmed to 40 South that the property is sold, but the agent has a fiduciary responsibility to the clients to keep marketing a property until it closes and title changes hands. “Just because something is under contract, even if it’s a contingency free (“hard”) contract, the sale is not closed till everyone goes in, signs all the paperwork, and title transfers. I have never had a seller ask us to stop marketing a property just because it is under contract. They want to sell, and it isn’t sold till they have the money.  Occasionally a buyer will try to put a cessation of marketing in a contract, but it isn’t something we would agree to, and it would concern me as to that buyer’s intentions and motivations,” Newton said.

 

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