Developer proposes $70M mixed-use plan in Richmond Heights, Ohio

Published on October 9, 2018

Stan Bullard

 

A $70 million Richmond Heights mixed-use development is planned by Los Angeles-based real estate developer DealPoint Merrill, which just acquired the closed Sears store at Richmond Town Square mall.

 

DealPoint said in a news release that it plans to use the 23 acres currently occupied by the department store and associated parking for a 375-unit luxury apartment, a 98-room hotel and a restaurant. The new apartments will have ground-floor retail in addition to a combination of tenant amenities, a plaza and a public park.

 

Through an affiliate, Richmond Heights Town Square Owner LLC, the real estate developer on Oct. 3 bought the Sears store, 622 Richmond Road, and associated land used for parking for $1.8 million, according to online records of the Cuyahoga County fiscal office. The county assigned the property a $2.38 million market value for tax purposes. The county assigned $1.2 million of the value to the building, which the new owner plans to demolish.

 

MORE:

https://www.crainscleveland.com/real-estate/developer-plans-70-million-mixed-use-project-richmond-heights

Well... good luck to them then. I have a lot of wonderful memories at Richmond Mall and would hate to see it go the way of the Euclid's or Randall's.

Me too. I walked and rode my bike there from home when I lived nearby from 1967-78.

22 hours ago, TBideon said:

Well... good luck to them then. I have a lot of wonderful memories at Richmond Mall and would hate to see it go the way of the Euclid's or Randall's.

Actually,

 

I wouldn't mind if it turned out how Euclid or Randall are TODAY. Aside from the movie theater, it's pretty much already where Randall and Euclid are before they closed for good.

I hope this turns out to be a better version of University Square's redevelopment, but I feel like I'm getting my hopes too high.

It's always good to see out-of-town money pour into NEO.  This is a vote of confidence for Richmond Heights, as it stops a retail brownfield from festering (Macy's closed in 2015, Sears in early 2017, and JCPenney in mid-2017).  If I had to compare it to the other dead malls in the region, I'd say Parmatown, which went from an indoor mall to an outdoor lifestyle center.  But this project has the added benefit of mixed-use, and is ambitious for a smaller, almost inner-ring suburb.  The 375-unit luxury apartments will offer the benefit of residential growth to a city that was built out over 50 years ago and also introduce foot traffic to the new and existing retail on site.  Even more of a wild card is the hotel.  The developer may know something we don't, because this is an odd location for a hotel with no direct highway proximity.  My guess is that they are banking on the county airport (located 2 miles due north of the mall).  Progressive also has an office park 2 miles east at Wilson Mills and 271, which is itself growing quickly.  That area is already saturated with hotels, however.

 

It sounds like they're moving fast on this project, and I really hope it takes off.  The empty JCPenney building still remains and the mall itself is mostly empty.  Adding full-time residents and hotel guests to the site could be a game-changer for future development.  There's also a mostly-empty shopping plaza (Hilltop) across the street that could benefit from spillover development.

1 hour ago, Down_with_Ctown said:

It's always good to see out-of-town money pour into NEO.  This is a vote of confidence for Richmond Heights, as it stops a retail brownfield from festering (Macy's closed in 2015, Sears in early 2017, and JCPenney in mid-2017).  If I had to compare it to the other dead malls in the region, I'd say Parmatown, which went from an indoor mall to an outdoor lifestyle center.  But this project has the added benefit of mixed-use, and is ambitious for a smaller, almost inner-ring suburb.  The 375-unit luxury apartments will offer the benefit of residential growth to a city that was built out over 50 years ago and also introduce foot traffic to the new and existing retail on site.  Even more of a wild card is the hotel.  The developer may know something we don't, because this is an odd location for a hotel with no direct highway proximity.  My guess is that they are banking on the county airport (located 2 miles due north of the mall).  Progressive also has an office park 2 miles east at Wilson Mills and 271, which is itself growing quickly.  That area is already saturated with hotels, however.

 

It sounds like they're moving fast on this project, and I really hope it takes off.  The empty JCPenney building still remains and the mall itself is mostly empty.  Adding full-time residents and hotel guests to the site could be a game-changer for future development.  There's also a mostly-empty shopping plaza (Hilltop) across the street that could benefit from spillover development.

 

Actually neighborhoods in Richmond Heights were just really getting started being built in the 1960s. There are several subdivisions built in the mid 70s and 80s as well as at least three built in the 90s and early 2000s. There are currently four active subdivisions in the city now.

Some recent-ish (newer than last October) news about this project, now called Belle Oaks at Richmond:

 

Zoning board approves variance for a seventh Belle Oaks apartment building; Richmond Heights ranked 36th in Ohio for safety

 

mentions SEARS demolition starting January!

 

they have their own website: https://belleoaksrichmond.com/

 

Here is the scope of the project: Belle Oaks at Richmond "Thoughtful Living"

 

Here is a nifty video! Youtube video rendering

 

My only wish would be for the residential buildings to have covered and hidden garage parking, but this is the suburbs and construction costs for that are most likely the reason.

 

I love all of the parkland and trails the developer is incorporating into the site, and that central plaza area will be really cool for the city.

 

There is also plenty of developable area left on the mall site and across Richmond Road for the future if this project fills up.

 

This is HUGE for Richmond Heights, and I'm really excited about this project! Over 360 new apartments and some new retail! YAY!?

Quote

The Belle Oaks at Richmond mixed-use development being planned for the Richmond Town Square mall site had recently been described as a $90 million project. That has changed in a big way.

Growing to $195 million 65-acre development. More here: https://www.google.com/amp/s/www.cleveland.com/community/2019/10/richmond-heights-mall-redevelopment-plans-grow-from-90-million-project-to-one-worth-195-million-site-to-have-more-than-700-new-apartments-townhouses.html%3foutputType=amp

Sale of Richmond Town Square mall, demolition coming soon

RICHMOND HEIGHTS, Ohio -- After the news arrived last week that the Belle Oaks at Richmond project had increased in value from $90 million to $195 million, more news comes that the sale of the Richmond Town Square mall site to developer DealPoint Merrill is expected to come soon, and that work on the project could be sped up.

DealPoint Merrill CEO David Frank appeared Tuesday (Oct. 29) night at a Richmond Heights Community Conversations event at the Kiwanis Lodge at Richmond Heights Community Park. Frank spoke individually with city leaders and residents while showing off designs for a second phase of plans.

Eventually, the entire mall will be demolished, with the exception of the CubeSmart and the Regal Cinema, which is now negotiating with DealPoint Merrill to remain at the mall site. Where the mall now stands will be 300-plus new luxury apartments and a few townhouses, which will also be leased. Parking will be constructed underground, under these apartments.

 

I actually was hoping that the mall would stay with retail also being established in the new buildings, creating an environment similar to Easton mall in Columbus.

Good for Richmond Heights but the site plan for the Richmond and Wilson Mills road frontages are pretty awful. 

12 hours ago, MyPhoneDead said:

Sale of Richmond Town Square mall, demolition coming soon

RICHMOND HEIGHTS, Ohio -- After the news arrived last week that the Belle Oaks at Richmond project had increased in value from $90 million to $195 million, more news comes that the sale of the Richmond Town Square mall site to developer DealPoint Merrill is expected to come soon, and that work on the project could be sped up.

DealPoint Merrill CEO David Frank appeared Tuesday (Oct. 29) night at a Richmond Heights Community Conversations event at the Kiwanis Lodge at Richmond Heights Community Park. Frank spoke individually with city leaders and residents while showing off designs for a second phase of plans.

Eventually, the entire mall will be demolished, with the exception of the CubeSmart and the Regal Cinema, which is now negotiating with DealPoint Merrill to remain at the mall site. Where the mall now stands will be 300-plus new luxury apartments and a few townhouses, which will also be leased. Parking will be constructed underground, under these apartments.

 

I actually was hoping that the mall would stay with retail also being established in the new buildings, creating an environment similar to Easton mall in Columbus.

I agree, That mall is not in bad shape, it is just kind of empty. Strange that they are replacing the core of the mall with an outdoor version of the mall with apartments above... why not just keep the core so it has a roof, but then again it's not my money. They mention keeping the Cubesmart and movie theatre, but how about the Planet Fitness? That seems like a selling feature to want to live near to me? I have faith in their plan.

Boy, Deal Point Merrill sure *hearts* Richmond Heights/Hillcrest.  From a $8M or so "investment" four years ago to turn the empty Macy's building into a giant self-storage box, the company's L.A. management has steadily pledged hundreds of millions of dollars of future investment.  Something in the city and neighborhood must have piqued their interest.  I would love to have been a fly on the wall during those discussions.

 

Say what you will about NEO's sprawl and overbuilt retail market, but this region has had incredible luck with its dead malls.  Off the top of my head, I can't think of a single empty mall currently rotting away in a cavernous parking lot.  Randall Park and Euclid are Amazon fulfillment centers, Westgate and Parmatown are fully-occupied outdoor lifestyle centers, and now Richmond Town Square is going mixed use.  Beachwood, South Park, Great Lakes, and Great Northern are very much live malls.  About the only major retail casualty is Severance, and even that property had a "second life" of about 15 years before falling on hard times (which was entirely due to South Euclid's poaching of Wal Mart).  Even the current Severance, though, has Home Depot, Office Max, Marshall's, and a fully occupied strip mall.  If the city could get lucky with a new owner, the nearby City Hall, medical building, Metro inpatient facility, and great location could see some exciting changes.

Edited November 1, 20195 yr by Down_with_Ctown

1 hour ago, Down_with_Ctown said:

Boy, Deal Point Merrill sure *hearts* Richmond Heights/Hillcrest.  From a $8M or so "investment" four years ago to turn the empty Macy's building into a giant self-storage box, the company's L.A. management has steadily pledged hundreds of millions of dollars of future investment.  Something in the city and neighborhood must have piqued their interest.  I would love to have been a fly on the wall during those discussions.

 

Say what you will about NEO's sprawl and overbuilt retail market, but this region has had incredible luck with its dead malls.  Off the top of my head, I can't think of a single empty mall currently rotting away in a cavernous parking lot.  Randall Park and Euclid are Amazon fulfillment centers, Westgate and Parmatown are fully-occupied outdoor lifestyle centers, and now Richmond Town Square is going mixed use.  Beachwood, South Park, Great Lakes, and Great Northern are very much live malls.  About the only major retail casualty is Severance, and even that property had a "second life" of about 15 years before falling on hard times (which was entirely due to South Euclid's poaching of Wal Mart).  Even the current Severance, though, has Home Depot, Office Max, Marshall's, and a fully occupied strip mall.  If the city could get lucky with a new owner, the nearby City Hall, medical building, Metro inpatient facility, and great location could see some exciting changes.

Maybe Merrill just recognizes something the local and likewise “rust belt” developers can’t see. I’ve always felt that as markets like Cleveland are ignored, the demand would build up to a point to where outsiders would start to seize opportunities. 
Good for them, and good for RHts!!

Some updates on the Richmond Town Square redevelopment.

 

Quote

Richmond Heights Planning Commission OKs mall redevelopment landscape, lighting plan
By Jeff Piorkowski/special to cleveland.com

 

RICHMOND HEIGHTS, Ohio -- The city's Planning & Zoning Commission voted Wednesday (Jan. ? to recommend to City Council the landscaping and lighting plan for the Belle Oaks at Richmond mixed-use development planned for Richmond Town Square.

 

The commission also got a preview of the development's big second phase, which will include seven Class A apartment buildings holding about 340 units. All five buildings will feature underground garages.

 

Together with the first phase, the $200 million project is planned to bring 791 new apartments to the 69.2-acre Richmond Town Square mall site. In all, 13 new buildings will be constructed in two phases, as well as a first-phase “central park,” complete with a “water feature” or large pond; an outdoor swimming pool with outdoor grilling; a Jacuzzi and hot tub and ample space on the pools' deck for lounging; a dog park; a lighted walking trail circling the entire development; and more.

...

 

https://www.cleveland.com/community/2020/01/richmond-heights-planning-commission-oks-mall-redevelopment-landscape-lighting-plan-gets-preview-of-second-phase-work.html

 

 

 

It will be interesting to see exactly how much retail makes it into this very residential--but still mixed use--project.  Retail in the eastern suburbs has slowly moving south and east for years, and has started to consolidate more and more around Beachwood/Legacy and Eton/Pinecrest as the two main poles.  (Cedar Center North and South plus Oakwood Commons have done relatively well catering to Cleveland Hts., University Hts., and South Euclid, just on a less pricier scale.  Also, Eastgate, Golden Gate and the nearby Mayfield Road corridor have thrived further east).  

 

Obviously, there's no room for the old Euclid Square Mall and Richmond Town Square in this reconfigured retail landscape.  However, there is at least theoretically some room for new shops, stores and restaurants in this development, especially when you're adding over 700 new Class A, 1-2 BR apartment units to the neighborhood.  There's also a lot of room in the nearby strip mall Hilltop Plaza (on Wilson Mills, across the street from Regal Cinemas and the old JCPenney building).  Let's see (i) how much retail s.f. winds up being built for this property and (ii) what the tenant mix will be.  

Edited January 11, 20205 yr by Down_with_Ctown

"In response to schools, Belle Oaks [Richmond Town Square] developer says without abatement, there is no project"

 

https://www.cleveland.com/community/2020/02/in-response-to-schools-belle-oaks-developer-says-without-abatement-there-is-no-project.html

 

RICHMOND HEIGHTS, Ohio -- David Frank, CEO of Richmond Town Square redeveloper DealPoint Merrill, responded with a written statement Friday (Feb. 7) to comments made by Richmond Heights City Schools Superintendent Renee Willis during her state-of-the schools presentation on Thursday (Feb. 6).

 

In Frank’s statement, he said that tax abatement is essential to satisfying the project’s bondholders and that, without their support, there will be no project.

They would be foolish to deny the abatement and kill this project. This is a transformative project for Richmond and if successful could lead to spinoffs around an area that has definitely seen better days.

They are not going to get a better opportunity that is for sure.  

2 hours ago, willyboy said:

They are not going to get a better opportunity that is for sure.  

 

To put things into perspective, if this development weighs in at over $200 million and Sherwin-Williams is publicly stating a commitment of at least $600 million, Richmond Heights should certainly be thankful such a holistic redevelopment plan is in place. Between underground parking, public green space, lighting, and other plan aspects, it doesn't quite feel like the city has much leverage when pushed.

I just find it so laughable that she is basing the opposition to this project on there being nearly 200 school aged children living in the 300 apartments in phase one. Did I read that right? I don't even think they're proposing enough two bedroom units to make that even remotely possible.

2 minutes ago, PoshSteve said:

I just find it so laughable that she is basing the opposition to this project on there being nearly 200 school aged children living in the 300 apartments in phase one. Did I read that right? I don't even think they're proposing enough two bedroom units to make that even remotely possible.

 

The fact the property is bisected by the two school districts serving the city is interesting...but given that the article states the majority of the project lies in the South Euclid-Lyndhurst district, wouldn't it stand to reason that her district is impacted less by the TIF? I didn't reference the site plans, but are all of the 300 units in the first phase in her district? Prior to the announcement of this project, I would have considered a "success" for the Richmond Mall to be mirroring the Great Lakes Mall's Community Entertainment District. Surely anything beats a vacant mall anchored by a Planet Fitness.

13 hours ago, infrafreak said:

 

The fact the property is bisected by the two school districts serving the city is interesting...but given that the article states the majority of the project lies in the South Euclid-Lyndhurst district, wouldn't it stand to reason that her district is impacted less by the TIF? I didn't reference the site plans, but are all of the 300 units in the first phase in her district? Prior to the announcement of this project, I would have considered a "success" for the Richmond Mall to be mirroring the Great Lakes Mall's Community Entertainment District. Surely anything beats a vacant mall anchored by a Planet Fitness.

 

In her comments she stated everything north of the current Sears is in RH; south of this is SEL. If that's true it would mean the line is right around Hillary Lane west of this development.  There was an earky-90s condo development south of Hillary Ln that is also in the district which means the line might jog south to encompass those units.  OR, possible she meant that Sears is included and thus we can say everything north of the theater is in RH. Either all or the majority of phase 1 is in the RH district. 

 

I do not think this development is targeted at families with school age children. This is empty nest baby boomers, downsizers, etc, and younger professionals working along the i-271 corridor who do not want to buy a home but are not satisfied with the largely outdated apartment offerings on the east side. There will be new children in the district but there will also be new amenities and retail which one would hope will lift the value of the surrounding area. Who wants to live near a dead mall in a mediocre at best school district where their voucher status is in flux? 

The city is very much strongly behind this development, to the point where they've had folks from City Hall responding to the naysayers of cleveland.com for the past several months.  Also, it's been reported that the developer (DealPoint Merrill) hired one of the city's economic development people a few years ago.  I think, despite the protests of the Superintendent, the Mayor and Council will push this deal through--as well they should.  What other inner ring suburb would look a $200M gift horse investment in the mouth?

Phase 2 may be in peril as it looks like the deal to buy the mall is dead. Buried in an article about code violations in a mall that everybody expected to be demolished.

 

https://www.cleveland.com/community/2020/05/code-violations-force-posting-of-closing-notices-at-richmond-town-square-mall.html

 

Quote

Code violations force posting of closing notices at Richmond Town Square mall

...

DealPoint’s negotiations with Kohan recently hit a snag. When asked if there was any news regarding the possible sale of Richmond Town Square, Kohan said, “Not really, because we did not renew the contract with DealPoint. But, we’re trying to see what we can do to try and help the situation, try to come up with some alternatives to help everyone.”

 

Edited May 6, 20205 yr by Mendo
corrected information about project

That would be phase two though, right? The first phase is just the Sears property and northern parking lot, not the mall. 

https://www.cleveland.com/community/2020/05/will-richmond-town-square-reopen-building-commissioner-says-malls-reopening-is-in-owners-hands.html

 

What an absolute mess. 

Kohan Retail Investment group is some sort of sham operation.  Back when Kohan purchased Richmond Town Square, I read that other mall properties he owned ended up shutting down.  One mall lost of its tenants and closed.  Another was closed due to non-payment of utilities a third was closed due to safety and building code violations.  This all happened before he purchased Richmond Town Square.  In the following months, Sears and J.C.Penney closed at that mall leaving no anchor tenants.  Before that purchase, he purchased another dying mall--Chapel Hill Mall. What have been the headlines about both malls in the last few months?  Chapel Hill tenants received notices of utility shut-offs. The same thing happened to Richmond Town Square tenants; it just wasn't mentioned in the news headline.  J.C.Penney closed their store at Chapel Hill leaving no anchor tenants there as well.  Both malls have delinquent property taxes.  Now Richmond Town Square is closed as it has major building and safety code violations.   Chapel Hill Mall had foreclosure filings by Summit County.

 

On December 8 2016, Cleveland.com ran an article about Kohan's purchase of Richmond Town Square: https://www.cleveland.com/hillcrest/2016/12/richmond_town_square_mall_in_r.html.   In that article, it stated: 

"It's a great mall that's in a great location 10 miles from downtown," said Kohan Retail Investment Group President Mike Kohan of the company's purchase, finalized on Nov. 10. Kohan is also the recent buyer of Akron's Chapel Hill Mall and owns 19 other malls around the country.

When asked if he had any plans to make upgrades at the mall, Kohan, speaking from his office in Great Neck, N.Y., said, "I'm not a developer. We want to place tenants at the mall." "As such, Kohan will focus on bringing new retailers to Richmond Heights."

 

In February, Kohan purchased Ashtabula Town Square Mall:  https://www.cleveland.com/business/2020/02/owner-of-akrons-struggling-chapel-hill-mall-buys-ashtabula-mall-for-102-million.html.  In that story, there was this statement:  "In an interview with the Star Beacon, which first reported the story, Kohan said he hopes to increase traffic and add tenants at the Ashtabula mall, which is at about half-capacity."  Doesn't that sound familiar?  How long before Ashabula Town Square suffers the same fate as Richmond Town Square, Chapel Hill and those other malls owned by Kohan?

 

As an aside, any talk of a mall owner making repairs to a nearly dead mall where a developer wishes to purchase it to demolish it is a load of cow manure.  Just as the other cited cleveland.com article stated, Kohan would never see any return on money spent on repairs.  The handful of low-end retailers and service providers that comprise most of that malls remaining tenants generate next to no mall revenue.  Expect this show to go on for many months and probably years. 

I think the biggest surprise/takeoff was that there are still retailers in the mall. Well were.

In  January, I had to go to the mall to pick up something at the Amazon drop-off locker.  Notices were taped on the locker unit by CEI warning of impending electricity shut-off due to non-payment of bills.  This was the same time that Chapel Hill Mall's tenants received similar notices.  Decided to take walk through the mall.  Notices were distributed throughout the mall.  Of "better" type retailers, there was a men's shop (which is soon going to relocate to the plaza across Wilson Mills Road), a couple of shoe stores and a sports apparel store.  Conrads, the movie theater and Planet Fitness have their businesses as well.  The food court had a few places open.  About half of the mall's stores were empty.  The other spaces were "urban" apparel stores (I will leave that up to your interpretation), junky-type stuff and hair/nail salons.  In a mall's "prime", those salons (aside from the ones that Sears or J.C.Penney might operate) would be off of the main concourse or be outside spots.  Now, they occupy spaces that once were prime leasing spaces, but there is lots of empty "prime" space available.  The Euclid Beach display takes up a former store plus it has some displays in windows of other empty stores..  It moved to Richmond Town Square after Euclid Square Mall had all of its tenants (mostly churches) kicked out when Euclid's fire marshal uncovered massive code violations.  The Euclid Beach display was only visible from the concourse as nobody was around to open it up for visitors.

 

A sign that any mall is doomed (aside from when Kohan purchases it), is when the Euclid Beach display moves in.  Ample space sitting un-leased ends up having a mall's owner letting them move in rent-free.      

 

 

Looks like mixed-use-lite.  Still a heck of a lot of parking lot to be a true community.

 

 

The way it's laid out any or all of those lots can be built on later if the first couple phases go well.  What's amazing is how much land a mid 20th Century mall takes up.  Laying mixed use walkable urbanism over top really puts that into perspective.  If built all the way out, there's a decent size town's downtown right there.

Really looking forward to this moving forward. Richmond Town Square as it is is a black hole for the entire area. Why anyone would think an abandoned mall could be better for their property values, I'll never know. What else would they want there? This redevelopment has the potential of turning into a strong anchor for this entire corner of the county, and shift the energy back inwards from the 271 corridor. 

9 hours ago, Foraker said:

Looks like mixed-use-lite.  Still a heck of a lot of parking lot to be a true community.

 

 

There’s still gonna be retail as part of the development too. Storefronts and the regal cinema. U need parking for that

21 hours ago, PoshSteve said:

Really looking forward to this moving forward. Richmond Town Square as it is is a black hole for the entire area. Why anyone would think an abandoned mall could be better for their property values, I'll never know. What else would they want there? This redevelopment has the potential of turning into a strong anchor for this entire corner of the county, and shift the energy back inwards from the 271 corridor. 

 

FWIW, the Richmond Heights Superintendent has fought this project tooth and nail since the beginning of the year despite the Mayor and City Council being gung ho for the project.  I believe the School District formally opposed City Council's designation of the property as an "opportunity" district and they're still fighting the TIF.  Complicating things further is that part of the mall property lies in the South Euclid-Lyndhurst School District.  RH believes that the SEL portion (which is basically the entire mall south of the Sears building) will get more retail while the RH gets "stuck" with residential (which would theoretically increase school attendance without the benefit of enhanced retail taxes).  Also of note is that RH passed a significant levy in 2017 to build a new high school, which had been scheduled to open in January (this was pre-COVID, however).  

 

The demolition of the Sears building for Phase One has been delayed several times.  Until recently, DPM (the developer) was planning on starting demolition of Sears in September.  However, the DPM has yet to buy the rest of the mall property from Kohan, the NY dead mall slumlord.  The developer is now saying that all demolition work on the property will be delayed until a deal for the entire mall is reached.  Right now, the developer only owns the northern portion of the mall site and they've said that they don't want to move in Class A residential tenants next to a construction site.  In other words, the goal is now to raze the entire mall before beginning Phase One.  

Edited August 26, 20204 yr by Down_with_Ctown

DealPoint Merrill Acquires Detention Basin Parcels

 

From the article:

69-acre site 

791 Class-A apartments

"approximately 315,000 square feet of retail, including a completely renovated Regal Cinema 20-screen theater complex."

 

This development just grew in size. The DealPoint Merrill website has yet to be updated for comparison:

Belle Oaks at Richmond Road

 

Hate to (potentially) be the bearer of bad news but as of the last week or so, all the fencing on this project fronting Richmond Road has been taken down.  Not sure what, if anything, this means.  I certainly haven't heard/read anything about a delay in construction.

Future of Belle Oaks at Richmond Town Square largely on hold until mall is sold
 

https://www.cleveland.com/community/2021/03/questions-about-whats-happening-with-belle-oaks-at-richmond-town-square-largely-on-hold-until-mall-is-sold.html
 

“The challenge is, right now, DealPoint Merrill is interested in purchasing (the entire) mall, and the vast majority of the mall is still owned by Mike Kohan, who is in litigation (over the sale),” said Mayor David Roche. “So all these things are on hold.

“They’re trying to (complete) mediation (on the sale), I think, in the next few weeks and they’re under court action right now. So, that’s the hard part for all of us.”

Law Director Todd Hunt confirmed that mediation has been ongoing for about a year.
 

***

Article also mentioned that the temporary construction fencing was taking down because it wasn’t pit in very well. Overall I thought it was an interesting article even though there isn’t anything new to report. 

Looks like "world class signage" and fencing are (back?) up at the site.  Do we actually have a project?  If they build all the phases shown in their plan, it will be a huge project.  LOL, does this qualify as a "sprout?"

Edited April 17, 20214 yr by urb-a-saurus

Lots of good info on Belle Oaks / Richmond Town Center redevelopment 

 

Belle Oaks development team meets with residents at Richmond Town Square

 

https://www.cleveland.com/community/2021/06/belle-oaks-development-team-meets-with-residents-at-richmond-town-square-discusses-all-phases-of-mixed-use-project.html

 

RICHMOND HEIGHTS, Ohio -- More than 100 people turned out on a warm Saturday (June 5) afternoon in the Richmond Town Square mall lot to learn about the forthcoming Belle Oaks Marketplace project, one DealPoint Merrill CEO David Frank said “would redefine not only Richmond Heights, but also redefine Cleveland itself.”

Residents also lined up for more than an hour to ask questions of Frank and the team putting together the more than $200 million project, with most of those questions centering on financing and the development’s potential impact on Richmond Heights Schools. 

California-based DealPoint Merrill sought to make the event festive by providing live music, free frozen custard, Belle Oaks T-shirts and water to those in attendance.

I do hope this project goes through but am tired of the booster cliches from developers. That sales pitch of "redefining" Richmond Hts is such mularkey, and we hear variations of it for every single project and proposal.

 

It'll be a nice development - sure beats a dead mall - if it goes through, but let's not act like it'll have a real impact on Richmond Hts issues. A more grounded presentation would be much more refreshing. 

Edited June 6, 20214 yr by TBideon

They're going to "redefine Cleveland itself"?  Wow.  Can't wait.

1 hour ago, TBideon said:

I do hope this project goes through but am tired of the booster cliches from developers. That sales pitch of "redefining" Richmond Hts is such mularkey, and we hear variations of it for every single project and proposal.

 

It'll be a nice development - sure beats a dead mall - if it goes through, but let's not act like it'll have a real impact on Richmond Hts issues. A more grounded presentation would be much more refreshing. 

People who buy into this presentation are going to be disappointed in the results.  Yes, redevelopment of a dead mall, one that has been dying for many years, will be an improvement.  School district impact?  The state of both Richmond Heights Schools (former Sears property and to the north) and South Euclid-Lyndhurst Schools (south of the old Sears building) isn't going to be a lure for families wishing to have their children attend a top-ranked school district.  Richmond Heights Schools are ranked in the bottom 5% of the state and SE-L is ranked in the bottom 10% of the state.  Wouldn't be surprised for ongoing poor school district performance (and the need for school levies) to be "blamed" on the lack of money received from the project.

 

As for the apartments, one can use the tag "luxury" however they want, but in the end it can be meaningless.  In the last few years, the Richmond Park Apartments, now known as 444 Park, were re-done and that complex got the "luxury" tag applied.  It is the source of quite a few police calls regularly.  It was the source of many police calls before the apartments were re-done and afterwards it made no difference.

Another piece in place: DealPoint Merrill acquires Richmond Town Square mall, clearing way for $200-million Belle Oaks construction

 

https://www.cleveland.com/community/2021/07/dealpoint-merrill-acquires-richmond-town-square-mall-clearing-way-for-200-million-belle-oaks-construction.html

 

RICHMOND HEIGHTS, Ohio -- DealPoint Merrill has announced that it has acquired the remainder of the former Richmond Town Square mall, completing the purchase of the mall south of the former Sears and Macy’s department stores. 

The purchase extends the 33 acres DealPoint Merrill had already owned, to 69 acres, and finally clears the way for construction to start early next year on Belle Oaks Marketplace -- a $200-million mixed use, multi-family development to be built on the former mall site. 

The sale of the mall, from Mike Kohan, of Great Neck, N.Y., to California-based DealPoint Merrill, has been negotiated for almost two years and, early this year, became the subject of litigation. The sale price was not disclosed in DealPoint’s release announcing the sale late Sunday (July 25) night. Kohan bought the mall in late 2016 for $7.25 million.

13 hours ago, Boomerang_Brian said:

Another piece in place: DealPoint Merrill acquires Richmond Town Square mall, clearing way for $200-million Belle Oaks construction

 

https://www.cleveland.com/community/2021/07/dealpoint-merrill-acquires-richmond-town-square-mall-clearing-way-for-200-million-belle-oaks-construction.html

 

RICHMOND HEIGHTS, Ohio -- DealPoint Merrill has announced that it has acquired the remainder of the former Richmond Town Square mall, completing the purchase of the mall south of the former Sears and Macy’s department stores. 

The purchase extends the 33 acres DealPoint Merrill had already owned, to 69 acres, and finally clears the way for construction to start early next year on Belle Oaks Marketplace -- a $200-million mixed use, multi-family development to be built on the former mall site. 

The sale of the mall, from Mike Kohan, of Great Neck, N.Y., to California-based DealPoint Merrill, has been negotiated for almost two years and, early this year, became the subject of litigation. The sale price was not disclosed in DealPoint’s release announcing the sale late Sunday (July 25) night. Kohan bought the mall in late 2016 for $7.25 million.

The sooner this mall comes down, the better.  Kohan did absolutely nothing to that mall from the point of his purchase in 2016, long before DealPoint first purchased the former Macy's store and then the former Sear's store.  He just let it rot and decay; that is his track record.  Nothing came of his promised "improvements and repairs".  He also owned Chapel Hill Mall in Akron.  In the cases of both malls, he didn't pay utilities or taxes.  Other malls he has owned faced similar situations.  Utilities were shut off, building code violations caused one to be shut down and another went vacant.  After the shutdown order was lifted last year, the Richmond Heights building inspector refused to let it re-open as the leaking roof caused parts of the ceiling to come down.  At least now, Richmond Town Square won't suffer the fates of Randall Park Mall and Rolling Acres Mall where they were totally abandoned, stripped of various metals and becoming destinations for urban explorers.  Unfortunately, Kohan's ownership has latched on to the Ashtabula Mall.  One has to wonder when will it start its descent into decay and vacancy. 

 

Unfortunately, now with the money in hand from the sales of Richmond Town Square and Chapel Hill, it will just give Kohan more money to cast his blight on other declining shopping malls.  Hopefully nowhere near here.    

I've said it before, but greater Cleveland has been extremely fortunate when it comes to the fate of its retail brownfields--i.e., dead malls.  Randall Park and Euclid Square Mall gave way to Amazon employment centers while Westgate and Parmatown became outdoor "lifestyle centers" (don't you dare call it a mall--there's no roof!)  This project is a fresh attempt at filling up an old mall footprint and may just be the most interesting.  Mostly because of the heavily residential aspect of the project.  It will add 791 Class A luxury apartments to a city that had a population of just over 10k in the 2010 census.  Depending on how many bedrooms each apartment unit has, that's close to a 10 percent increase in the city's residential population.  Doesn't sound like much retail is going in (just 15k s.f.).  The developer is talking up a "grocery store" but there's a 50-60k s.f. Dave's Supermarket across the street, so I'm not expecting a Giant Eagle or anything.  It sounds like the 40k s.f. of restaurants will make up the vast majority of the non-residential portion of this project.  It will be verrrrry interesting to see what restaurants DealPoint lands for the project because it will go a long way towards shaping public perception of the project.  Will it be chains like Applebee's, Chili's, or Olive Garden?  Or (hopefully) locally owned places?  A Michael Symon or Zach Bruell entrant would go a long way towards attracting the kind of apartment dwellers these "Class A" apartments appear to be calling for.

 

All in all, a great, forward looking project for Richmond Heights, an often overlooked community in the "Hillcrest" part of the east side burbs.  With a brand new high school and Flexjet corporate headquarters just a mile or so north of this project, the city has been very fortunate the past 5-6 years or so.

Edited July 27, 20213 yr by Down_with_Ctown

11 hours ago, Down_with_Ctown said:

I've said it before, but greater Cleveland has been extremely fortunate when it comes to the fate of its retail brownfields--i.e., dead malls.  Randall Park and Euclid Square Mall gave way to Amazon employment centers while Westgate and Parmatown became outdoor "lifestyle centers" (don't you dare call it a mall--there's no roof!)  This project is a fresh attempt at filling up an old mall footprint and may just be the most interesting.  Mostly because of the heavily residential aspect of the project.  It will add 791 Class A luxury apartments to a city that had a population of just over 10k in the 2010 census.  Depending on how many bedrooms each apartment unit has, that's close to a 10 percent increase in the city's residential population.  Doesn't sound like much retail is going in (just 15k s.f.).  The developer is talking up a "grocery store" but there's a 50-60k s.f. Dave's Supermarket across the street, so I'm not expecting a Giant Eagle or anything.  It sounds like the 40k s.f. of restaurants will make up the vast majority of the non-residential portion of this project.  It will be verrrrry interesting to see what restaurants DealPoint lands for the project because it will go a long way towards shaping public perception of the project.  Will it be chains like Applebee's, Chili's, or Olive Garden?  Or (hopefully) locally owned places?  A Michael Symon or Zach Bruell entrant would go a long way towards attracting the kind of apartment dwellers these "Class A" apartments appear to be calling for.

 

All in all, a great, forward looking project for Richmond Heights, an often overlooked community in the "Hillcrest" part of the east side burbs.  With a brand new high school and Flexjet corporate headquarters just a mile or so north of this project, the city has been very fortunate the past 5-6 years or so.

The coming demolition of the dead mall is a good thing.  Willing to wait and see how this redevelopment works out in the long run.  DPM has made some truly lofty projections on what it will do for the city and it could come up short.  The city has quite a few issues that it won't address.  A new secondary school was a necessity due to the overall poor condition of the building it replaced.  In the end, a brand new school building will not make a difference if the students and their families don't put in the required effort.  If all it took was having brand new or extensively rebuilt school buildings, CMSD would not be in the bottom 10 in the state.  Even then, the development at Belle Oaks is only about 1/3 in the Richmond Heights Local School District.  Due to boundaries drawn many decades ago, the rest lies within the boundaries of South Euclid-Lyndhurst Schools.  In either case, both school districts are in the bottom 10% in the state rankings.

 

With the apartments eventually numbering 791 units, a 10% increase in the city's population may be an estimate on the low side.  It is not too much of stretch to see it could mean an increase of at least 15% in population.  Considering the growth in population will be fairly quick, will the city be able to expand its services without it becoming a strain or diversion from the rest of the city?  Will the required increase in services exceed the revenue that the development and income taxes bring in?  Even without factoring in the effects of COVID, city services and programs in Richmond Heights don't stand up well when comparing them to some of the other neighboring communities.

 

On the dining front, chains come and go, as well as eateries operated by well-know individuals.  Two of the chains mentioned (Applebee's and Olive Garden) are not doing well.  Symon has cut back on his operations.