tykaps

I wasn't able to attend, but it was apparently just a lot of people angry about parking. Need parking for all the residents. Extra parking for if they have guests. Tear down the historic duplexes next door for more parking. Even though most of the tenants would probably be students walking to class. Even though street parking is easily found in the surrounding streets. Even though TOD zoning applies to its location near transit. So pretty much a typical community meeting lol

Going to be late, but I should be able to make it. Very busy week, so wasn't really sure until now.

Alpha Apartments' new building at 2185 Cornell Rd next to the Baricelli Apartments. It'll add 14 much needed apartments to Little Italy (11 2-beds and 3 3-beds). A few more minor changes are planned before the next Landmarks Meeting. There's been some positive feedback as the plan has been refined, but there are still plenty of Little Italy NIMBYs who oppose any new apartments. I work in a company related to Alpha Apartments, and they're currently looking for more support for the project. If anyone around Little Italy or University Circle is able to, it'd be really appreciated it if you could take a few minutes and send an email of support to Landmarks ([email protected]). Thanks!

.

I'll be a bit late but I'll be there!

Not currently. It's only office space except for the cider brewery in the basement run by the current owner. Most of the office tenants are lawyers, and only a few want to stay if the building sells.

Not surprising if true. CWRU has taken a lot of 18 month leases on other apartments in Little Italy since they currently have a shortage of dorms.

The buildings themselves look genuinely great. And it's exciting to see Midtown growing a residential base. But absolutely agree with @Mendo, that frontage could be so much better.

YouGov surveys pay you for completion. The faster you fill it out, the faster you get money. People often do this by just selecting 50% as the default number. Notice how numbers added up don't make sense and how everything skews towards the middle.

Clinton Ave Townhomes is live on coUrbanize. 7 for-sale units at 4211 Clinton Ave. courbanize.com/projects/clintontownhomes It should be noted that the renderings online don't seem to match the new description and site plan (3 SFH on Clinton and 4 townhomes on Vine).

I think the new design looks nicer. I also like the digital RTA travel board in the lobby. Looks like the kind of thing we should be putting up at bus and rapid stations. Here are the plans: https://assets.adobe.com/public/45d23a2c-0d9b-4658-591f-9537656e0574/Far West/20220816_Design Review-reduced.pdf The only thing I think would be a bit nicer is making the two buildings look distinct from one another.

Crain's article on the E 89th St apartment development: https://www.crainscleveland.com/real-estate/hes-lived-east-89th-street-26-years-now-he-plans-rebuild-it

Good read from Crain's about Opportunity Zone developments: https://www.crainscleveland.com/real-estate/more-opportunity-zone-developers-bet-clevelands-east-side Two points on the map really stuck out to me. I don't think I've heard anything else about these plans before now: 3210 Franklin Blvd - TDGOZ II LLC (Neil Viny) acquired this vacant land across from the planned Franklin Yards renovation. Plans call for a multi-story apartment building. 808 College Ave - TDGOS II LLC acquired a small apartment building and vacant land. Plans call for razing the apartments and constructing a mixed-use building.

Oh ya that's my bad. I thought they were referring to the other excavation photo infrafreak posted above on Willey Ave. Too much stuff to talk about is never a problem lol

https://www.cleveland.com/realestate-news/2020/10/developer-looks-to-add-30-apartments-on-inclined-road-in-clevelands-duck-island-area.html

I feel like Uptown's mixed success has less to do with Midwestern culture and people not walk walking and more to do with competition/offerings. Uptown is right next to Little Italy. People come from all over Cleveland to come visit Little Italy and people in the neighborhood are always walking around the community. Where would people rather visit and walk around? A community of mixed and varied architecture with a large selection of small/local businesses? Or a stretch of uniform buildings primarily with fast-casual chain restaurants? That's not to say Uptown is bad. It fills a niche. But its niche isn't walkable area people want to visit to go walk around.

It is. They were interested in finding someone to buy the whole thing to use as rentals.

Ultimately, I don't think this will do too much harm to new developments in Cleveland. From my experience and discussions with others working in the real estate market, most people buying tax abated houses don't recognize just how much value the abatement provides. The new system won't do much harm to the new for-sale market. The abatement has always been more important for apartment developers. It can seriously make or break a project since it provides a LOT of value. And this new system doesn't shrink that value too much. @LlamaLawyer's analysis shows how the impact is relatively small. There are definitely a couple issues though. The $350k figure should be tied to inflation. And based on what I'm reading, the $350k cap applies to 2-4 unit properties too? There should definitely be separate caps for each of those unit counts. Cleveland is full of historic 2-4 unit buildings, and we shouldn't discourage people from developing more.

Two months ago, the project was listed for sale. The approved but not started project at Wade Park Ave and Lakeview Rd was also listed. It seems that they're hoping someone will buy one or both projects in their entirety for use as rentals. For South Taylor Place, they want to sell the 30-unit project for $464,594/unit.

Some newer renderings! The changes aren't too big since the last rendition, but here you go: https://www.dropbox.com/sh/2v5ustca2gjr120/AAAmofK6zvZFQyP1dj3L2kSda/Bridgeworks?dl=0&lst=&preview=220505+Bridgeworks+OCDR+Submission.pdf

Based on unit availability on their website: There are 84 studios, 43 one-bedroom units, and 2 two-bedroom units still available for leasing. That means they have leased 55.1% of their 287 units (not counting the 10 penthouses). It also seems to mean that they definitely underestimated demand for 2+ bedroom units and overestimated demand for studios. I imagine we'll see that corrected in the upcoming second phase.

Here's the current plan from their leasing brochure, last updated 2/15/22:

Took a little bit, but I think I finally found plans for this project. Granted, this is from January 2021. https://www.behance.net/gallery/111987825/Edgewater-Park-Duplexes I'm guessing it's going to be sold as townhomes, but honestly I might buy one if they just sold them as duplexes.

According to an update on their CoUrbanize page, construction started Wednesday! https://courbanize.com/projects/cpl_mlk_branch/updates Their timeline also mentions that they will have an official groundbreaking ceremony on May 14th.

It's not a tax credit in the sense that it abates property tax or some kind of income tax involved in a project. It's a credit for insurance premium taxes. Some insurance company will buy Millennia's $40 million tax credit for slightly less than $40 million, thus giving them cash to put towards their project.