gottaplan

55 PS? On & off with K&D. Last I heard it was off.

Good point, and I thought of that, but most all incentives must pay for themselves. the math is fairly basic. If it doesn't pay for itself in 10 years, it doesn't compute. No matter if you are a 250 person company or a 2500 person company. If the City established clear incentives criteria for income tax and property tax based on jobs & capital investment, it would be easy for all to analyze. Just my thoughts

editorial today in Clevleand.com advocating for more transparency in details of City/County incentive package being offered to keep SW here in Cleveland. https://www.cleveland.com/opinion/2020/01/citizens-deserve-to-know-what-county-and-city-officials-offer-sherwin-williams-to-stay-in-cleveland.html Curious what everyone's thoughts are about this. I think some level of confidentiality needs to be had during negotiations but the end result should be made clear. Ultimately, any property tax abatement needs signed off by School board and income tax needs approved by Council, right?

a lot of good points here. This VA site is at the southern tip of Cuy County. Less than a mile away and it's Richfield. It's reasonable logic that half the employees of any new development at the VA site would rather live in Summit or Medina County and commute back to Brecksville. Even transfer of existing jobs within Cuy Co would result in a portion probably relocating outside the County. Just speculating, but it seems logical to me

I think some of this "cleanup" talk is being overstated. I've done developments at some really bad sites. In worst cases, a builder would have to "cut & cap" the site with approximately 3' of "clean fill". That's not an astronomical fee. Entire Battery Park site had this done. They still managed to be profitable.

worth noting, Brecksville is probably throwing everything and the kitchen sink at this opportunity as well... how much would it mean to the VA development to get a major corporate user like this as an anchor tenant...

and still nothing on Cleveland.com on the story, not even to link to KJP blog... so lame.

Good article. No love for Brecksville. For some reason, I thought they'd peal off a piece of this project to the Valor Acres site. But apparently not.

I actually really like Pinecrest and prefer it over Legacy but I can see the differences in the two. Pinecrest is larger and newer. The trees aren't yet established, the architecture is more modern. Legacy is more quaint, more narrow sidewalks, has more tree canopy close by from the TRW property, the storefronts are smaller and it feels more legit as a recreated small town. Pinecrest has a more corporate feel with the design - more glass, metal, even the lighting details. I still think Pinecrest has a longer term recipe for success with the housing mix, the grocery store, the corporate office use and hotel on site. There's a lot of developments that strive for all those components and very few pull it off. And the location is really good. Right off busy freeway, with visibility. LV doesn't have that, even though its' still easy to get to.

Cool. This is nice completion/extension of Battery Park. Surprising to me that it's taken so long. That old warehouse structure was torn down about 6 years ago when the 73rd interchange was put in. The Mobile Martin folks relocated several years ago too

Agreed that CM firms spent a lot of work & time on this but it's not unusual. Only a couple firms competing. Huge potential upside. Often the firms put together preconstruction proposal to cover their costs and will waive it if they are the successful firm.

Yeah rest of the year. Wow. Sends a strong message to rest of the league

I realize he's with the Raiders now but he's going to be facing probably a 3 game suspension now

whatever deal is finalized will include major incentives from the City. It makes a lot more sense to attract development in the heart of downtown than trying to create a new hub elsewhere and leave parking lots on public square.

here's my thoughts on the Burke airport site discussion.... airport closure issues aside, there's no infrastructure out there to build a skyscraper OR a campus. YOu'd need roads, utilities and amenities.... any other site already has hotels, utilities, restaurants, parking, etc right closeby. So I don't see Burke being a realistic site. but that's me. Cleveland has a ton of development potential before we need to start exploring that old airport as an option...

I see this wrapping up sooner than later. Again, the City has every motivation to not let this drag on and have more competition from outside NE Ohio.... 60 days or less I'd say something is announced. but I have no sources to back that up so take it for what it is

I just don't see the point of issuing RFQ's to construction companies unless SW plans to contract directly with them and PURCHASE the sites in question, then build their own tower/campus.... projects like this are typically done more as a design/build lease back with a developer with an option to purchase after 20 yrs or something. This is what the County building did with Geis a few years ago - saves all the capital & risk from the tenant side Also curious how GEIS fits into all this discussion... I know they are working all angles and of course Welty - the President of Welty, Don Taylor, has tight connections with SW executives and Welty hired a new business dev guy about 18 months ago who formerly worked at SW.... and his wife Mary Taylor is former Lt Governor, has close connections still for gathering incentive money....

So back to the RFP, I'm curious how everyone thinks this is being structured. Is City of Cleveland putting together a singular incentive package to get entire operation downtown, regardless of Public Square or Nucleus location? And then are developers putting together proposals to build & lease back tower/campus type developments? Does anyone have insight as to what the property owners of the locations in question are trying to do? Sell to a developer, hang on to it/retain a stake in the deal? Finally, it seems to me this RFP has probably been ready to release for quite some time. It's almost like they timed it to be released just as Frank Jackson was having his worst week ever. In the words of Rahm Emmanuel, never let a crisis go to waste. He's desperate for a win and some positive PR right now.

Separate conversation but relevant here, I was telling a friend last weekend that Frank Jackson really has no winning record to speak of as mayor but has merely managed to avoid controversy. Now with his grandson facing felony, he's mired in the muck. If this SW deal somehow gets away, he's toast.

So on to real news - what locations are actually on the list? - Public Square parking lots owned by Jacobs? - Nucleus site? - Valor Acres in Brecksville?

No idea how many employees they have now unfortunately but I hear they are growing all the time. As for the amount of property acquired, I think the owner of the business has made a lot of money and is doing investments all over. He is a partner in restaurants and other ventures that I know of so land ownership is not necessarily for the mortgage HQ... just my 2cents

The DiGeronimo's did get a nice deal on that land but it's not as great as you think. They paid upfront to do all the demo & abatement. Even self-performing the work, that's at least a $3-$4 million job and maybe even $5 million. The real deal will be when Brecksville passes a massive TIF to add the new ring road, additional ramps at Miller/I-77, etc etc

The Cross Country mortgage operation on Miller Road is busting at the seams. They already park cars on the VA property because they can't fit on their own. I honestly don't think they can wait the 2+ years it will take to get new construction ready for them. And the rent will be double what they currently pay in that low rise flex building. And mortgage businesses aren't typically seen as top credit tenants for an office building - they tend to be boom/bust.

somewhat unrelated but curious where this leaves the Brecksville VA site. They have a huge amount of space to fill, approx 100 acres. Most recent site plan showed retail and hotel/conf center at the southern third along Miller Road.... with remaining two thirds as open to a "large corporate user..."

uh, wait, don't you all remember that was supposed to be a new CASINO!!! hello?