Cleveland Development Discussions (Euclid, Gordon: sales, houses, buyers)

[drb85650]

from a first time tourist...your downtown is beautiful! And we were impressed by all the new development, infill projects along Euclid and surrounding areas. BTW...I'd nix the sliding roof on the Browns stadium. As a longtime Denver resident,Broncos fan, now living in Arizona, attending Cardinals games in A/c comfort....football just isn't football unless it's cold. Try getting enthused when your're sitting in 90' fall weather like we did at our old stadium here.

[NewToCA]

Originally Posted by dhunter15201

I think people are going to be moving back into Cleveland someday due to water shortages. That means, Cleveland will really be building up. When this will happen, I'm not sure, but this is just my opinion.

That certainly is one benefit, but I have to tell you that California is now starting to finally look at alternative ways to meet their water needs, meaning this idea might not have the benefit you anticipate:

Dry California OKs huge desalination plant - Environment - MSNBC.com


This is expected to be the first of over a dozen plants to be built over the next decade or so, with the overall capacity to provide fresh water to about 5-6 million folks. Combined with some ideas about a canal system from Oregon and Washington, which are saturated with water every winter, and the problem might be technologically overcome.

I am a big fan of Ohio, but they need to make it attractive for businesses to relocate or grow there. I found a lot of efforts going into cannibalizing businesses from each other (cities or townships) when I recently lived in Ohio.

[Pgserge27]

University Circle pushes forward on hotel, other projects

Posted by Michelle Jarboe/Plain Dealer Reporter November 18, 2008 11:40AM

Categories: Breaking News, Real Estate News Impact, Real Time News, Real estate
Plans for two hotels and other projects in University Circle are moving forward, despite a financial crisis that has made development funding hard to come by.
Chris Ronayne, president of University Circle Inc., said the community development group is considering proposals from five developers to build a 150- to 200-room hotel at Cornell Road and Euclid Avenue. The hotel would go on a 1.3-acre property owned by UCI and University Hospitals, across from UH's new cancer center.
Ronayne would not identify the potential developers, but he said the proposals came from both national and local groups. Potential brands include Hyatt, Element and Aloft hotels, with rooms ranging from $120 to $160.

UCI is reviewing the proposals, which range from a stand-alone hotel to a mixed-use project, and evaluating the financing possibilities for a development that could cost $25 million to $50 million.
The proposed hotel is the second hospitality project planned for the University Circle area. It would sit amidst a landscape of medical, institutional, residential and mixed-use developments planned or in the works.
Ronayne will address these projects this afternoon at University Circle Inc.'s annual meeting, where he'll strive to paint the district as Cleveland's best shot at growth during a slumping economy.
"No one is absolutely secure from the economic downturn, but it's a matter of degree," Ronayne said in an interview. "Relatively speaking, where are the strong horses and how can we support them as a strategy to ride out the storm and bring the city back? From a scale standpoint, we've got significant horsepower."
In addition to the UCI-UH hotel project, the Maron family plans a hotel in the former Tudor Arms building at Carnegie Avenue and East 107th Street. The Marons also are part of a development team working on the Uptown project, an effort to bring apartments, condominiums, restaurants, retail and entertainment to a stretch of Euclid Avenue east of Mayfield Road. And a handful of residential developers, including WXZ Development of Fairview Park and the Coral Co. of University Heights, have plans for nearby townhomes.
Many of these projects were proposed before problems in the housing market sparked turmoil in the financial industry and led to dramatic pullbacks on developments across the country. Developers have tabled large projects in downtown Cleveland as they struggle to find banks or other lenders willing to take a risk on commercial real estate.
Ronayne said banks still express interest in University Circle investments. To keep up the enthusiasm, University Circle Inc. has taken a larger role in planning and pitching projects, using $450,000 in funding from the group's board to come up with development concepts.
In addition to the hotel near UH, the group is working on plans for Lot 45, a parking lot next to a future rapid transit station on Mayfield Road. Designs for Lot 45 include a 700- to 1,000-space parking garage to serve commuters, tourists and families of patients at the Cleveland Clinic and University Hospitals. The project also could include a small market or grocery store, a fitness center and apartments or student housing for the Cleveland Institute of Art.
University Circle Inc. also is working on plans for a townhome project with the Coral Co. and considering ways to develop some land across from the Cleveland Museum of Art.
"We're aggressively going after development in a place that holds the greatest potential for it in Northeast Ohio," Ronayne said.

[WeSoHood]

I haven't been keeping track of this thread too much.. but does anyone have any information on proposed plans for future skyscrapers in the city? I believe a nice hotel, or attractive downtown skyscrapers would draw more people in, thus increasing transients to the region to boost the economy.. and heck.. I just like skyscrapers in general

[Pgserge27]

Skyscrapers, no, that usually means like 50 stories or so. There were supposed to be a couple of 20+ story buildings in the east bank project so when that gets financing back in line than we'll see some additions to the skyline. University Hospitals has a new building going up not sure quite how many stories but it's pretty big. The breuer building will be getting gut rehabbed, but not exactly a new skyscraper. There was talk about the parking lot to the west of public square, jacob's property, getting a new tower, but i'm sure with the current economics that's on hold. I have seen a couple of architectural firms drawings for this so if things pick up at least it is already designed and ready to go. That's all I know for now.

[Traveler87]

Originally Posted by WeSoHood

I haven't been keeping track of this thread too much.. but does anyone have any information on proposed plans for future skyscrapers in the city? I believe a nice hotel, or attractive downtown skyscrapers would draw more people in, thus increasing transients to the region to boost the economy.. and heck.. I just like skyscrapers in general

Not too many cities are building anything in the lines of skyscrapers right now, unless they are already under construction, or have been backed to the point where no recession can stop them. In fact, Chicago's Chicago Spire is not on hold, that was extremely suprising to me.

Like the previous poster, there are some skyscrapers in the range of 20 stories in the works for Flats East Bank, and some restoration projects too, just wait until the economy can turn around.

[Pgserge27]

Originally Posted by Traveler87

Not too many cities are building anything in the lines of skyscrapers right now, unless they are already under construction, or have been backed to the point where no recession can stop them. In fact, Chicago's Chicago Spire is not on hold, that was extremely suprising to me.

Like the previous poster, there are some skyscrapers in the range of 20 stories in the works for Flats East Bank, and some restoration projects too, just wait until the economy can turn around.

Actually In my "architectural Record" magazine that just arrived today, the spire is on hold. The developer owes 15 million just to the architects that designed it.

And also the flats East Bank Project is continuing as we speak. They are doing a lot of infrastructure work that was already funded and this was not supposed to be complete until next summer, so if the economy does turn around they can pick up on schedule.

[Traveler87]

Yes, I am sorry I re-read my post, I knew the Spire was on hold, I did say I was suprised to see it was. Figured that thing was backed well enough to continue.

And FEB is currently on hold, yes a lot of the drainage work is done, but with the market, the rest is on hold until the market recovers somewhat.

[BelieveInCleve]

Plan to turn Cleveland's West Shoreway into a boulevard gains momentum - Metro - cleveland.com

Plan to turn Cleveland's West Shoreway into a boulevard gains momentum

CLEVELAND - The dream to turn the West Shoreway into a slow-speed boulevard and gateway to Cleveland's West Side neighborhoods is about to become reality after years of disagreement between residents, city officials and highway planners.

The Ohio Department of Transportation says it has reached agreements with everyone involved and is ready to start making changes in 2010.

About $50 million in federal money will be used for road, tunnel and intersection improvements between downtown and West Boulevard and make Edgewater Park and Lake Erie more accessible from the adjacent West Side neighborhoods now cut off by the Shoreway.

The project, which was first rolled out in the late 1990s, almost died at one point this year. But compromises were reached over issues including exit ramps, traffic lights and funding because it is so vital to lakefront development, said Bob Brown, Cleveland's director of planning.

"The city's attitude is we have to get something done because the lakefront plan is critically important," he said Friday. "There had to be some way to get this project under construction."

The centerpiece of the project is to turn the West Shoreway into a 35-mile-per hour, tree-lined boulevard. But the work to that will come in Phase II, which is not expected to start until at least until 2013 because there is no money and the Inner Belt reconstruction takes precedence. Phase II work is estimated at $27 million.

MOD CUT

[NewToCA]

Well, in keeping with my personal policy of objective discussions, I also want to report significant disappointing updates too.

Stark Enterprises massive proposal for the Warehouse District has been cancelled:

After four years of talking up his vision for the Warehouse District, developer Bob Stark won't have much say about what happens there.

Stark...has dropped plans to build homes, offices and stores on parking lots downtown, after the property owners refused to extend his options to buy the land.

The Asher family, which owns much of the site, aims to develop the property through its commercial real estate company, Weston Inc.

Even without land-control problems, Stark faced trouble financing his project and luring retailers during a credit crunch and a financial crisis that has sidelined developers nationwide.


Developer Bob Stark drops Warehouse District plans - Business – cleveland.com