newyorker

Clevelanders should be focused on complaining about with Forest City, and other Cleveland locals are doing for Cleveland not an out of towner that has bought a business (the Cavs) and started another (the casino) in Cleveland. If Gilbert did not invest in Higbee Building and the garage, no question both would be empty today. Look at the remaining building across e 4th Street on prospect -no local developer has invested in them yet. They are virtually all empty and no one care until someone knocks them down to build new. I was recently in Cleveland and the city looks much more polished and vibrant since the casino has opened. And don’t forget the impact of 1,600 employees that work and pay taxes, take public transportation and have lunch/dinner in downtown (even if it fast food) has on the city. People that visit for conventions will have another place to go as part of your portfolio.

It is interesting that we tend to think that retail always needs to be upscale. I would not measure the success of Tower City by having high ends stores but having viable retail that works. Here in New York you can walk different parts of the city and you see retail that fits the neighborhood. I’d say keeping the occupancy up in the mall is most important and that is driven by traffic. I believe Cleveland is on the right path with new apartments on the horizon, a new convention center, the medical mart, the casino and a few businesses moving back downtown. I believe the city has very good momentum and Tower City will benefit greatly.