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Here's how I'm looking at it: 1) I figure that they wouldn't post rents like this if no one is leasing (or rents will drop until they start leasing). 2) If people are willing to pay that rent, then it's not too high for Cleveland. 3) If it's not too high for Cleveland, then we can expect more developers (and lenders) to invest in new construction, not just office/warehouse conversions. I remember being at a talk maybe 4-5 years ago after the Uptown Apartments opened where Ari Maron said that for new construction to really take off in Cleveland, he believed it would take a catalyst project and something in the range of $2.50/sf rents. Maybe this is it?

The website's a lot more expansive than it used to be, and it says they are leasing for Spring 2018 occupancy. https://oneuniversitycircle.com/

Renderings are usually supposed to help sell/promote a project, so I find that the real thing rarely looks as good as the renderings. That's not a good sign for this project where even the renderings look bad.

Not sure if this goes under this topic, but here's some news from Legacy Village: http://www.cleveland.com/business/index.ssf/2017/11/arhaus_is_expanding_at_legacy.html

The land under the current CDC building is now controlled by UCI. I'm sure they'll be reaching out to area developers if they haven't already.

They're pouring the roof of the 20th floor today! :clap:

From what I understand, the City's current code only allows 4 over 1, but the code is outdated as it is based on the 2012 International Building Code. The newer International Building Code allows 5 over 2, so the City will allow it with a variance and will eventually update their own code.

It is definitely 5 floors of wood over 2 floors of concrete. I did some investigating after some of the first photos of wood framing were posted. Standing on the third floor, they would be standing on the top of the concrete podium, so yes the floor of the third floor (or the ceiling of the second floor) would be concrete. They need a strong floor made out of concrete (or other projects may use steel) to build five floors of wood on top. There are no concrete decks above that floor. The "voodoo magic" that rockitect mentions was just a variance granted by the City based on a more recent version of the International Building Code (I don't recall which one).

For the anchor tenant, Pace is talking about a large office user, not a retail anchor. I have no inside info, but I could imagine Sherwin Williams wanting to move there. It would be great though to get a company from outside the region to move to town.

^I saw in one of the articles that it's postponed indefinitely.

^The most recent Centric article on Cleveland.com (from December) shows 7 floors in the renderings (5 residential over a 2-story retail/office podium)

Yeah, I thought there were code issues with 5-stories of wood frame over a podium like that. I guess they got around that... or maybe I'm mistaken.

^Actually it is under the building, or at least it's under most of the building, as you can see in "Playhouse Square Img09" on the left side of the image. They couldn't fit the entire garage under the footprint of the building because it would be a horribly inefficient parking garage and would need 10+ floors to get enough parking to support the apartments above. Either that, or the building's footprint would need to take up almost the entire parcel and you would be left with a much shorter building (probably O or U shaped) to get the same number of units. And that wouldn't solve the problem of the massive garage facade anyway.

On the south side of Abbey Ave. between Columbus Rd. and W. 21st Pl. They have a map on their website with a yellow star for the location of the project.