Posted May 30, 20187 yr This is a large enough building to warrant its own thread right? What a surprise to see this today! Seems like we are entering a nice new wave of projects. K&D strikes deal to buy 55 Public Square office tower, with mixed-use renovation plans "CLEVELAND, Ohio - The K&D Group, of one downtown's largest landlords, is taking on yet another center-city redevelopment project - the acquisition and renovation of a half-empty office tower on Public Square. K&D confirmed Wednesday that it has inked a deal to buy 55 Public Square, a 22-story tower northwest of the square. The purchase, at an undisclosed price, also will include a seven-story garage and the former John Q's Steakhouse space, which has been vacant for years. The sale is scheduled to occur within 75 days. The seller, an affiliate of Optima Ventures of Miami, Florida, paid $34 million for the complex in 2008. The Cuyahoga County Fiscal Office estimates that the property, in dire need of a makeover, is worth $20.7 million today." http://realestate.cleveland.com/realestate-news/2018/05/kd_strikes_deal_to_buy_55_publ.html
May 30, 20187 yr I used to work there and the views are great. Always thought it would have been better as apartments. The garage is really crumbly. I had hoped we'd see something in that John Q space by now. Think of how many apartments are on that block now, just counting the Standard alone.
May 30, 20187 yr This is a large enough building to warrant its own thread right? I agree. We've had separate threads for the conversions of the Leader, Standard, Garfield, East Ohio buildings etc. This one may be bigger than all of them. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 30, 20187 yr This project will make almost 1,200 new units on blocks touching public square... May company - 308 apartments 75 public square - 119 apartments Terminal tower - 300 apartments 55 public square - 150 apartments Standard building - 281 apartments
May 30, 20187 yr What will this do to Cleveland Police HQ? I don't think police HQ was ever going here. CPD will go to the Plain Dealer of former police station on Payne.
May 30, 20187 yr I don't think police HQ was ever going here. CPD will go to the Plain Dealer of former police station on Payne. That was the CPD's first preferred site. But when you read the CPD's requirements, there's no way they could have made 55 Public Square work. That's when they did the RFP and my understanding is the former PD building at 1801 Superior will be their new home. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 30, 20187 yr Great news. Love this building. I hope they get the historic credits and replace those icky reflecting windows. And can't wait to see a new tenant in the old John Q's space.
May 30, 20187 yr I hope the renovations are significant. I always wished someone would demolish everything but the building itself and wrap it with a 4-6 story mixed use podium. Starting with the awkward plaza setback from PS, then surrounded by John Q's with no windows down W. 3rd and the worst parking garage in all of downtown. Great news. Love this building. I hope they get the historic credits and replace those icky reflecting windows. And can't wait to see a new tenant in the old John Q's space. Are those reflective windows original or a coating added later on? K&D might be stuck with them.
May 30, 20187 yr <sarcasm on>Can't they do the wrap-around windows like the Federal Building?<sarcasm off>
May 30, 20187 yr ^^Added later - vintage pics from clevelandmemory.org: http://images.ulib.csuohio.edu/cdm/singleitem/collection/postcards/id/4158/rec/1 http://images.ulib.csuohio.edu/cdm/singleitem/collection/postcards/id/2252/rec/100 clevelandskyscrapers.com Cleveland Skyscrapers on Instagram
May 30, 20187 yr ^^Added later - vintage pics from clevelandmemory.org: http://images.ulib.csuohio.edu/cdm/singleitem/collection/postcards/id/4158/rec/1 http://images.ulib.csuohio.edu/cdm/singleitem/collection/postcards/id/2252/rec/100 I never knew that and I even worked in that building for about 3 years.
May 30, 20187 yr In 1958, it was the first 12+ story building to be built in downtown Cleveland since Higbee's opened in 1931 and the first 20+ story building downtown since Terminal Tower opened to tenants in 1929. That's nearly three decades between large buildings downtown. That's how long it took for downtown Cleveland to start recovering from the Great Depression. 55 Public Square was also the first "international style" skyscraper in Cleveland, which isn't surprising because this architectural movement was started about the time that significant new construction in downtown Cleveland stopped. Anyone remember from where the Illuminating Company (Cleveland Electric Illuminating Co.) relocated? Right next door! 75 Public Square. CEI is now part of First Energy and has its headquarters in downtown Akron in a 19-story where more than 900 employees work. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 31, 20187 yr The garage, which he described as his "top priority," I'm glad that this is mentioned as a priority. That garage is completely horrendous. Is it possible to develop a smaller building on the corner flat surface parking lot to hide the blank garage facade? Maybe there could be green space and some street level retail incorporated? That garage space and the former steakhouse are horrible looking. The restaurant space needs a complete facelift or demolition.
August 13, 20186 yr That didn't last long.... 55 Public Square sale and renovation plans, first reported in late May, fall through. "We did decide to pass on it last week," K&D's CEO confirms of downtown #CLE property. http://realestate.cleveland.com/realestate-news/2018/08/55_public_square_sale_falls_th.html "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 13, 20186 yr Author Wow... that was. K&D has taken on a ton of projects lately so I was surprised when I heard about 55. Last I had talked to them they were planning to take a break after Terminal Tower. Hopefully someone else can come along to take the 55 project... the building needs a major redo and the parking garage just needs to go. K&D's other projects downtown involved buildings that were in pretty good shape. This one needed a ton of work, maybe thats why it fell through? Although I believe 668 involved quite a bit of work. Who knows
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