Htsguy

I recall reading an article in the past four weeks or so (probably posted on this site but not necessarily in this thread...I think it was more of a general downtown development article discussing various potential projects) that quoted a PS principal. If I recall, it implied that they were going slow developing this site (while working on it) and I got the impression that nothing was that imminent.

Had dinner at Alley Cat last night (enjoyed it). While it was beautiful weather, was happy and surprised to see so much activity on a Wednesday night in mid September. Not only Alley Cat but all the venues in the East Bank (Shooters even looked like it had a good crowd as did the Goodtime evening cruise).

Thanks KJP....facts rather than speculation are always nice.

^Michelle's article states 20 stories

^There are people on the board with more knowledge of than I of the subject, but my guess that the condo financing situation has not changed must since we exited the recession and lending standards have tightened. That is, it is very difficult to get financing for condo projects at both the developer level (except in hot markets and where the developer has significant equity) and buyer level without a huge down payment. I would believe that this is especially true in unproven markets like downtown Cleveland

^Strap I believe everything you state is very accurate which leads me to believe that a continuation of the board walk (no matter how appealing )is very unlikely, especially given the expense.

^^It is easy to imagine a lot of things. The more important question is who would pay for such a bridge?

^As I understand it the Flats and warehouse district properties as owned by companies started by Jeff Jacobs. The public square lot is owned by the company started by his father and uncle now deceased...he might own stock in that company like other family members but I don't believe he plays an active role in running that comoany

I have always been more cautious than many on this board ever since this project was announced, especially when it comes to the suggested time line. Stark has an ego and likes to puff. He has fulfilled some of his dreams, but slowly and in the wealthier suburbs where the task is a bit easier. So at least he has some what of a track record, but again nothing big in an urban environment that I am aware of. Still, the thing that gives me hope is that he spent a hell of a lot of money for two surface parking lots, a parking garage that is basically falling down and some condemned buildings on Prospect that the city is pushing for renovation. Hard to compare this to Pesht because that was always really a fantasy from day one, recession or not. He owned hardly any of the property (I think just that small parcel on west third) and the scope was immense. At this point he does have a lot invested in this project...not only the property purchase but I would imagine significant arch and engineering fees to date.

^They actually never moved in in the first place

^have you seen him? Maybe his body is decomposing inside the apartment. :wink:

^yeah, I was also under the impression that the plan is this is suppose to be temporary.

I imagine I can pretty much guess the answer to this but is the city putting any pressure on him to at least start work on those condemned Prospect buildings that really kicked this whole thing off. Is that little parking lot still roped off or is the city now letting them use it since that evil LA group is out of the picture.

^^Not surprised. They just closed in Cincy a couple of weeks ago and they are apparently in trouble nationally at multiple locations. Probably a good thing

Really did anybody believe the time line that was being suggested when this project was first announced. It really did not seem realistic...just Stark being Stark

^Thanks for the info

^Agree...looks like Burgess on the left as well.

Broadview Hts. seems like a difficult location for somebody that wants to take rail since it would take so long to get to a station in the first place. That said, I find it hard to believe that the Clinic, with all its services, does not provide a regular shuttle from the Quincy station to the campus. It would be basically a three minute ride. A more walkable stop for the Clinic (more eyes) would be University-Cedar which is only three blocks away from the first Clinic buildings. Of course in New York nobody would think twice about this, but obviously that is going to be a different story in Cleveland (not to stereotype (but I will), especially for somebody would chooses to live in Broadview Hts).

So add Pittsburgh to the ever expanding list of major American cities without a downtown department store.

^If you have a room facing west yes you will see the Justice Center but you will also experience fantastic sunsets over the lake. Nothing like them.

^Probably a lot of skepticism so why go crazy.

The ONLY good thing I can say about the building (especially given the potential for the site way back when) is that the miserable setback does give a nice vista for the cathedral as you head east on Euclid.

^Don't know what is going on in connection with the June 1 tax credit deadline, but according to the court docket the lawsuit has been stayed by agreement of the parties until the end of August.

For some reason Litt's critic is a bit muted for him which is unusual. Maybe it is because he knows this development has a long way to go before final. It certainly does need a lot of work to make it more of a "place".

It has been reported time and time again that Forest City's plans and strategies are to only invest in a few large and growing US markets.