Yes!

 

When?  Where?  We have folks that live in their buildings.  I'm not trying to be difficult, but show me so I can better understand your point of view.

 

This really isnt the place for that, plus there are ongoing issues that really shouldnt be specified on here.  But let me put it this way, I can pretty much gaurantee you, you wouldnt want them touching anything in your unit or building MTS.     

 

I will just be happy for the investment and the new residents it will bring downtown. 

 

Maybe you can direct your energy into backing up/finding the rental rates required for outlet stores as opposed to dollar stores (Tower City thread)....  >:D

 

Bitch...Ms. Thing...you're trying it!  Don't got there!  :whip: :P   

 

Having said that, I'll leave it alone, but for future reference when the opportunity presents itself, please note issues at any K&D properties so I can better understand your point of view.

Ha ha, you made me smile MTS.  Happy Holidays!

Ha ha, you made me smile MTS.  Happy Holidays!

 

So here's my breakdown/recap for new Downtown residential expansion...am I missing anything??

 

Under Construction:

Cleveland State University Mixed-Use North Campus Apartments (308 units) -- $45 million http://blog.cleveland.com/metro/2011/06/new_neighborhood_to_rise_on_cl.html

 

In the pipeline:

The Park Building and Southworth Building apartments (34 apartments) -- $21 million http://development.ohio.gov/Urban/OHPTC/documents/Round7ApprovedApplications.pdf

Hanna Annex Apartments (102 apartments) -- $23 million http://www.cleveland.com/business/index.ssf/2011/12/playhousesquare_to_sell_downto.html

 

Planning Stages:

Schofield Building (24-30 apartments) -- $40 million http://www.cleveland.com/business/index.ssf/2010/06/four_northeast_ohio_projects_i.html

Truman Building at 1030 Euclid (20 apartments) http://www.allbusiness.com/real-estate/commercial-residential-property/12867378-1.html#ixzz1iMEeIeBP

Avenue District conversion into apartments at 1211 Saint Clair Ave (up to 62 units) http://www.crainscleveland.com/apps/pbcs.dll/article?AID=/20110725/FREE/307259967

 

Proposed:

Flats East Bank Residential (150-175 apartments)  http://www.cleveland.com/business/index.ssf/2011/11/with_apartments_full_developer.html

Arcade (100 apartments) http://crainscleveland.com/apps/pbcs.dll/section?Category=TOC

 

When pigs fly:

515 Euclid Ave (240 units) http://www.desman.com/hotproperty/task,view/id,59/Itemid,168/

Huntington Bank Building at 917 Euclid Ave http://blog.cleveland.com/business/2008/11/huntington_moving_to_200_publi.html

East Ohio Building at 1717 East Ninth St http://www.crainscleveland.com/article/20101109/FREE/101109839

Warehouse District mixed-used Transit Hub  http://blog.cleveland.com/metro/2011/11/post_536.html

Lakefront Residential http://blog.cleveland.com/architecture/2011/11/new_lakefront_plan_from_clevel.html

Playhouse Square parking lot across from Palace Theater http://www.cleveland.com/business/index.ssf/2011/12/playhousesquare_to_sell_downto.html

Interesting news

 

http://crainscleveland.com/apps/pbcs.dll/section?Category=TOC

 

New Arcade owner eyes apartments at Hyatt

The quest by Skyline International Development of Toronto to make a go of the landmark Old Arcade in downtown Cleveland includes a possible switch to residential use of part of the building that houses the 293-room Hyatt Regency Cleveland.

 

I was wondering why this wasn't posted in the Cleveland Arcade thread -- when I realized we don't have one! It sounds like there isn't a redevelopment project yet, but I'm still tempted to create a new thread and move posts to it. Call me an optimist!

ClevelandOhio, you should update your map.

 

http://maps.google.com/maps/ms?msid=214307218223262897576.0004aa4758e5355e6fba8&msa=0&ll=41.499964,-81.693778&spn=0.008196,0.01929

 

EDIT: I dont know how to post the URL, when I copy and pasted, this popped up. Any way look on page 5 for it.

^ Done, anything im missing?

Looks good to me. Thanks.

^^Riverbend Condos, 1444 W. 10th Street.

 

http://www.highrises.com/cleveland/riverbend-condos/

Regarding the Arcade, this is from the press release about the purchase from Skyline

 

Blutrich added, “Our Skyline International team has an affinity for assets with a real story and something vibrant to

share with visitors and their community. Our experience restoring the many unused spaces in the King Edward

Hotel and integrating private residences there, as well as our current work renewing and expanding the Deerhurst

Resort legacy are know-how we will build on in Cleveland.”

 

Originally financed by leading 19th century businessmen, like John D. Rockefeller, and modeled on Milan’s Galleria

Vittorio Emanuele II, the Cleveland Arcade complex is a Victorian gem with two 10-story towers, where the hotel is

located, linked by a daring, five-story, glass-roofed gallery and atrium.

 

Skyline’s goals include re-positioning the shopping mall aspect of the arcade and investing in it and the hotel to

make both outlets profitable for the long-term.

 

 

http://www.skylineinvestments.com/media/documents/pdf/skyline-acquires-cleveland-arcade--hyatt-news-release-122111.pdf

I was wondering why this wasn't posted in the Cleveland Arcade thread -- when I realized we don't have one! It sounds like there isn't a redevelopment project yet, but I'm still tempted to create a new thread and move posts to it. Call me an optimist!

 

Now we do. I decided to take a risk and create one. I was knocking on wood when I did it! ;-)

Good news: Crains has an article up this morning entitled, "Surprises ahead in downtown apartment push"

 

Bad news: I think they're on to the google search bypass

 

 

^I realized that a few weeks ago.  Can anybody summarize the article?

I did note that while you cannot access the article without a subscription, the Crain's website had a picture of the East Ohio Gas Company Building on E. 9th next to the headline....Hmmm.

From the article:

 

"Cyrus Sakhai, a principal of Sovereign Properties Ltd. of Manhattan, acknowledged that his company has been approached by several prospective buyers he would not identify and would consider a sale of the 21-story East Ohio Building, at 1717 E. Ninth St."

 

It states that K&D is believed to be making the strongest push, but nothing is confirmed.  The article also references several other buildings for potential residential conversion, including the Arcade, the Chester Commons office building (1120 Chester Ave.), the CMSD Board of Ed building (although they say it's more likely a hotel candidate), and the City Athletic Club building.

Well I thought "surprise" meant something was going to happen in the near future.

Nah, I was expecting an article speculating on the backstories going on about various buildings, and that's what this was.

 

And yes I am surprised to hear 1717 East 9th is being considered as a candidate for housing conversion. To me, it's a pleasant surprise. But what wasn't a pleasant surprise is that K&D is apparently making a big push for it. I'd rather see them go back to their plan for the Ameritrust/Breuer Tower. I'd love for both to be converted. Problem is, if one becomes an apartment building shortly before the other gets its financing, then that's a lot of housing supply that's suddenly on the market and it could depress prices to the point that it kills or delays the other project until the new supply is absorbed by the market. Of course, if they both are converted and go on the market at the same time, the huge supply would destroy prices and potentially ruin one or both projects' ability to pay back financiers.

 

If I had to pick one project to do first-- from a community perspective, I'd say the Breuer Tower. It's a more visible building at a more critical intersection. But it's probably also the most difficult because of the attached rotunda, adjacent five-story office building and parking garage. So from a business perspective, I'll wager that 1717 East 9th gets converted first, which is too bad. That will probably mean The Breuer will stay vacant for quite a while longer.

^Just speculation, but maybe this is a ploy by K and D (the East Ohio publicity) to get the county to play ball with it in connection with Ameriturst.  Maybe the county is driving a hard bargain and K and D is saying "OK we are going to take our scarce resources and buy another downtown building for our project...there are plenty out there" and the county is then still stuck with the Ameritrust Building (is any other developer actually pursuing Ameritrust other than K an D?.... a yes would of course blow my theory out the window).

Here is a podcast from Crains covering the article.

 

4:30 am, January 16, 2012

BEHIND THE NEWS WITH CRAIN'S

 

Crain's podcast:

The next dominoes to fall in the downtown Cleveland apartment game

 

 

http://www.crainscleveland.com/article/20120116/AUDIO/301169962

^Just speculation, but maybe this is a ploy by K and D (the East Ohio publicity) to get the county to play ball with it in connection with Ameriturst.  Maybe the county is driving a hard bargain and K and D is saying "OK we are going to take our scarce resources and buy another downtown building for our project...there are plenty out there" and the county is then still stuck with the Ameritrust Building (is any other developer actually pursuing Ameritrust other than K an D?.... a yes would of course blow my theory out the window).

 

I think the real scheme is more complex than that, involving the Thai mafia, Russian Ultranationalists, and a splinter sect of the Hari Krishna.  But that's just my speculation.

^I think you might be right except for the thai mafia...they don't do downtown.

But if they do buy a downtown tower, at least we can call it The Thai Stick.

 

OK, back on topic!

Very interesting quote/stat about Rosetta -- I had no idea:

 

Rosetta boasts 1,500 team members spread across nine offices in places like New York, Los Angeles and Toronto, among others. But thanks to 450 staffers locally, Cleveland is now Rosetta's largest.

 

Add to that a dose of giving the people what they want and the downtown choice was obvious. More than 100 Rosetta staffers live downtown -- a staggering 22 percent. With upscale choices like the Bingham in the lively Warehouse District and The Residences at 668 hovering over frenetic East 4th Street, the central downtown location caters to the youthful Rosetta demographic both residentially and socially.

 

http://www.freshwatercleveland.com/features/rosetta011912.aspx

Very interesting quote/stat about Rosetta -- I had no idea:

 

Rosetta boasts 1,500 team members spread across nine offices in places like New York, Los Angeles and Toronto, among others. But thanks to 450 staffers locally, Cleveland is now Rosetta's largest.

 

Add to that a dose of giving the people what they want and the downtown choice was obvious. More than 100 Rosetta staffers live downtown -- a staggering 22 percent. With upscale choices like the Bingham in the lively Warehouse District and The Residences at 668 hovering over frenetic East 4th Street, the central downtown location caters to the youthful Rosetta demographic both residentially and socially.

 

http://www.freshwatercleveland.com/features/rosetta011912.aspx

 

Between them and the Holiday Inn I think that is the entire building, which I'm not sure if it is the 1896 building or the addition.  Now the actual building on Euclid and 6th, where PNC Investments used to be, is empty.  Besides the bank branch I don;t think there is anything in that building.  As far as I know it is not on the market either.  Which is a shame and a blessing, at least it cant be demo'd into a parking lot.

 

It would be another interesting property to be converted into apartments...

Ari Maron's penthouse is also in that building.... right below Rosseta, I believe

Ari Maron's penthouse is also in that building.... right below Rosseta, I believe

 

I think Rick Maron (dad) lives in the penthouse. I'm pretty sure that Ari lives in one of the apartments on E.4th.

^ Correct. I believe the Maron parents live on top of the Euclid side of the old National City bank building

This isn't an apartment--or hotel--news yet, but perhaps could be: The Standard Bldg is up for sale.

 

"The nation's oldest labor union is putting its headquarters building on the market, in a bet that downtown Cleveland projects will boost investor zeal for sites near Public Square. The railroad union, now called the Brotherhood of Locomotive Engineers and Trainmen, constructed the Standard Building in 1924 to house the country's first labor bank.

 

Now the group has publicly listed the property for sale, for the first time in its history. The Chartwell Group real estate brokerage is marketing the 21-story building, at Ontario Street and Saint Clair Avenue, for $8.8 million...."

 

http://www.cleveland.com/business/index.ssf/2012/01/railroad_union_nations_oldest.html

 

[Cross-posted in the Hotels thread.]

I would love to see the Standard Building turned into apartments!

Could a renovation include development of the PS facing facade?

Could a renovation include development of the PS facing facade?

 

I'd guess that the east-west corridor runs along the southern lot line, so busting windows in that facade today would just light up the hallway.  I suppose a developer could move the corridor, but I'm not sure the floor plates are wide enough to justify that.  Also, the developers would need to buy the Old Stone Church annex or at least the air rights over it to ensure any new windows don't get blocked by future development on the adjacent lot.  The views over public square sure would be awesome.

I thinnk an AWESOME stone facade with or without windows is in order...to help highlight to Old Stone Church.

There's a strong chance that any redevelopment would try to use historic preservation tax credits as part of the financing package, and I suspect the powers that grant such credits would frown on changing that side of the building in a significant way.

Could a renovation include development of the PS facing facade?

 

Balconies!

Could a renovation include development of the PS facing facade?

 

Hell, I'd be happy if they just painted it with a huge mural of a building facade with windows! :)

There's a strong chance that any redevelopment would try to use historic preservation tax credits as part of the financing package, and I suspect the powers that grant such credits would frown on changing that side of the building in a significant way.

 

You are correct, and the word probably isn't frown, it's strictly prohibit... though I guess every once in a very long while SHPO and the Parks Service surprise you. And until someone can find another way for someone to raise 40% of the costs of rehabilitation (25% state, 15% federal), which is 100% necessary to make these things financially feasible, they will continue to do so.

 

I figured out long ago, "Cleveland" isn't experts in historic preservation because they love it (a few do but not many), the expertise exists because it has to in order to make projects even remotely financially feasible.

Why was the Standard Building built the way it was?  Was there or was there supposed to be a building behind it, like the Landmark Office Towers blank side?

Could a renovation include development of the PS facing facade?

 

Some windows would be a drastic improvement, not only aesthetically, but they could be an asset for the building. Or better yet, balconies.

 

It worked in Columbus:

 

http://www.smbhinc.com/images/projects/zoom/broad_1.jpg

 

edit: I see quite a few people already chimed in on this!

Why was the Standard Building built the way it was?  Was there or was there supposed to be a building behind it, like the Landmark Office Towers blank side?

 

It's almost certainty because the developer didn't own the adjacent property, so couldn't count on the windows actually opening to air forever (unless the developer bought an easement).  Especially back then, it would have been very easy to imagine the Old Stone Church being torn down for a large new building facing public square, even if nothing concrete was then in the works.  That blank wall really isn't so unusual, it's just that it's so conspicuous because the adjacent buildings are so small.

VERY preliminary but the Garfield and Baker buildings are being looked at for conversion.

VERY preliminary but the Garfield and Baker buildings are being looked at for conversion.

 

That would be awesome. Especially if they could bring back the original storefronts on the Garfield building.

VERY preliminary but the Garfield and Baker buildings are being looked at for conversion.

 

Where are these two buildings?

The Baker Building is the one with Moriarty's, Teahouse Noodles, etc.  The Garfield is the building west of the Holiday Inn Express.  Both have most of their frontage on East 6th.

bumsquare...any idea by whom?

Is the Garfield the same as the old National City now PNC bank? I get that cluster of buildings confused. The Baker sits right behind the 515 parking garage. If your looking at it from Euclid.

I get confused as well. I thought that Rosetta had taken up a lot of the floors in the Garfield building.  Does Baker Building have any frontage on Superior Ave?

^no

Brown building on the left is the Garfield I believe and the building on the right is the Baker Building.  This is an ideal location for residential conversions.

 

http://g.co/maps/972zs

 

http://maps.google.com/maps?q=515+euclid+ave,+cleveland,+oh&hl=en&ll=41.500655,-81.68913&spn=0.000004,0.002401&sll=37.0625,-95.677068&sspn=51.576045,78.662109&hnear=515+Euclid+Ave,+Cleveland,+Ohio+44114&t=m&z=19&layer=c&cbll=41.500729,-81.68971&panoid=T6LWYf4_cvCp1R04VIIWQg&cbp=12,156.41,,0,-26.45

Like I said though, it's all very preliminary.