18 minutes ago, Geowizical said:

I was under the impression this area was doing well for itself. Pardon the language but wth happened?

 

I think it just stalled for a combination of factors. 

• Office, especially new construction/high rents, is just a very hard sell.
• Brecksville has been adamant that no big box, no movie theater, no fast food in this development...
• Work from home has driven down the bulk of the surrounding employers, so the draw of this area for a restaurant or anything is just not there

59 minutes ago, gottaplan said:

Brecksville has been adamant that no big box, no movie theater, no fast food in this development...

That's so weird. Usually developments like this rely on "anchor tenants" which are usually outlets from big companies that can afford to take the risk. Seems they're shooting themselves in the foot here.

18 minutes ago, dwolfi01 said:

That's so weird. Usually developments like this rely on "anchor tenants" which are usually outlets from big companies that can afford to take the risk. Seems they're shooting themselves in the foot here.

if you talk to real estate/development teams, every one of them around town had a conversation with Brecksville mayor over the years and potentially had a deal worked out on the site but it was nixed at last min over a movie theater or Target or something like that.

 

It's ironic, the zoning of the site allows pretty much anything under the sun, but at the same time still requires every use and design to go through planning commission....

2 hours ago, gottaplan said:

 

I think it just stalled for a combination of factors. 

• Office, especially new construction/high rents, is just a very hard sell.
• Brecksville has been adamant that no big box, no movie theater, no fast food in this development...
• Work from home has driven down the bulk of the surrounding employers, so the draw of this area for a restaurant or anything is just not there

With how much Sherwin Williams loves privacy they are probably in heaven. 

On 2/13/2025 at 6:48 PM, roman totale XVII said:

^ I also hear on good authority that the Lubrizol office over the road is 80% empty most days too. No-one’s clamoring to go work in that area. 
SHW R&D is gonna end up in splendid isolation. 

Knowing a few R&D employees, they frankly couldn't care less as long as they get their free parking and 15 minute drive up 77

4 hours ago, AsDustinFoxWouldSay said:

Knowing a few R&D employees, they frankly couldn't care less

Hey !  

On 2/14/2025 at 5:11 PM, MyPhoneDead said:

With how much Sherwin Williams loves privacy they are probably in heaven. 

From a pure financial standpoint, I'm curious where Digeronimo's stand with this overall development.

 

They paid for all the demolition/abatement of the old VA facility upfront and all the site development, infrastructure, utilities, etc.  It's a 100 acre site.  You could do the the math and get a rough approximation of costs.  The City did pay for some of the roads coming in as part of the TIFF agreement, and of course the new ramps and Miller Road rebuild.  Digeronimos also had to pay an upfront development fee to the City to cover all the legal costs

 

So adding up costs and income, the only income I can see thus far is the residential component which is fairly minor and the land deal which they acquired from the City, then flipped to SW.

 

Impossible to know for sure, but it's hard to see this is playing out vs what it was planned as 6+ years ago.

https://www.cleveland.com/brecksville/2018/11/redevelopment_of_former_brecks.html

9 minutes ago, gottaplan said:

From a pure financial standpoint, I'm curious where Digeronimo's stand with this overall development.

 

They paid for all the demolition/abatement of the old VA facility upfront and all the site development, infrastructure, utilities, etc.  It's a 100 acre site.  You could do the the math and get a rough approximation of costs.  The City did pay for some of the roads coming in as part of the TIFF agreement, and of course the new ramps and Miller Road rebuild.  Digeronimos also had to pay an upfront development fee to the City to cover all the legal costs

 

So adding up costs and income, the only income I can see thus far is the residential component which is fairly minor and the land deal which they acquired from the City, then flipped to SW.

 

Impossible to know for sure, but it's hard to see this is playing out vs what it was planned as 6+ years ago.

https://www.cleveland.com/brecksville/2018/11/redevelopment_of_former_brecks.html

There might have been some environmental remediation too if I remember correctly. But there might have been public dollars available. 

9 hours ago, gottaplan said:

From a pure financial standpoint, I'm curious where Digeronimo's stand with this overall development.

 

They paid for all the demolition/abatement of the old VA facility upfront and all the site development, infrastructure, utilities, etc.  It's a 100 acre site.  You could do the the math and get a rough approximation of costs.  The City did pay for some of the roads coming in as part of the TIFF agreement, and of course the new ramps and Miller Road rebuild.  Digeronimos also had to pay an upfront development fee to the City to cover all the legal costs

 

So adding up costs and income, the only income I can see thus far is the residential component which is fairly minor and the land deal which they acquired from the City, then flipped to SW.

 

Impossible to know for sure, but it's hard to see this is playing out vs what it was planned as 6+ years ago.

https://www.cleveland.com/brecksville/2018/11/redevelopment_of_former_brecks.html

Reminds me of another development plan

Maybe it would have been better to build the research center somewhere near the hq. Too bad. I see it as a missed opportunity. But then, l'm pro Cleveland, not necessarily pro SHW.

makes sense. Investors hate uncertainty and there surely is a lot of that going around. Not surprised if big investors are holding off on tying up some funds on big projects. Hope we get some normalcy soon. Would love if this summer was a busy one for new development announcements!

https://www.cleveland.com/entertainment/2025/04/flour-restaurant-expanding-with-2nd-location.html

Flour restaurant expanding with 2nd location

"The Italian restaurant, which opened 14 years ago this month at Chagrin Boulevard and SOM Center Road in Moreland Hills, is moving into Valor Acres."

https://www.crainscleveland.com/real-estate/valor-acres-sets-tone-future-developments

As Valor Acres rises, it's setting the bar for future developments

• Site in Brecksville is quickly becoming one of the hottest real estate sites in Northeast Ohio

• Having a positive effect on the entire Northeast Ohio commercial real estate market, developers and brokers say, proves there is still high demand for office space

• Expected to open this year are the restaurants Flour (Italian) and Masu (Sushi)

• All single family homes in the development have fetched $600k+ and all have sold - more are on the way

• DiGeronimo isn't done with Valor Acres; it’s still got to build more office buildings, finish a huge parking deck, add more homes and create more retail space

48 minutes ago, Geowizical said:

https://www.crainscleveland.com/real-estate/valor-acres-sets-tone-future-developments

As Valor Acres rises, it's setting the bar for future developments

• Site in Brecksville is quickly becoming one of the hottest real estate sites in Northeast Ohio

• Having a positive effect on the entire Northeast Ohio commercial real estate market, developers and brokers say, proves there is still high demand for office space

• Expected to open this year are the restaurants Flour (Italian) and Masu (Sushi)

• All single family homes in the development have fetched $600k+ and all have sold - more are on the way

• DiGeronimo isn't done with Valor Acres; it’s still got to build more office buildings, finish a huge parking deck, add more homes and create more retail space

Does Crain's put "sponsored content" behind their paywall?

11 minutes ago, E Rocc said:

Does Crain's put "sponsored content" behind their paywall?

Dunno. Just sharing the article

On 5/12/2025 at 7:27 AM, Geowizical said:

https://www.crainscleveland.com/real-estate/valor-acres-sets-tone-future-developments

As Valor Acres rises, it's setting the bar for future developments

• Site in Brecksville is quickly becoming one of the hottest real estate sites in Northeast Ohio

• Having a positive effect on the entire Northeast Ohio commercial real estate market, developers and brokers say, proves there is still high demand for office space

• Expected to open this year are the restaurants Flour (Italian) and Masu (Sushi)

• All single family homes in the development have fetched $600k+ and all have sold - more are on the way

• DiGeronimo isn't done with Valor Acres; it’s still got to build more office buildings, finish a huge parking deck, add more homes and create more retail space

FWIW, I live in Broadview Heights and people have been THRILLED with VA thus far.

Port OK’s $92M for Cleveland, Brecksville projects

By Ken Prendergast / June 12, 2025

A trio of projects — two in Cleveland and one in Brecksville — got a total of $92 million in financing approved by the Port of Cleveland to help get them closer to construction. Two are mixed-use housing developments in Cleveland totaling 355 residential units. The third is a new, 136-room AC Marriott hotel at Valor Acres, the former Veterans Administration (VA) Hospital site in Brecksville.

MORE:

https://neo-trans.blog/2025/06/12/port-oks-92m-for-cleveland-brecksville-projects/

On 5/20/2025 at 8:08 AM, YABO713 said:

FWIW, I live in Broadview Heights and people have been THRILLED with VA thus far.

Sorry for commenting 3 weeks late lol. But what is there to be thrilled about? Nothing is open but a coffee shop

Good news yes, but my bias is showing when l wish SHW had built the Valor Acres project somewhere in the Flats. Brecksville has natural beauty and can take care of itself. It didn't need SHW's help.

3 hours ago, KJP said:

Port OK’s $92M for Cleveland, Brecksville projects

By Ken Prendergast / June 12, 2025

A trio of projects — two in Cleveland and one in Brecksville — got a total of $92 million in financing approved by the Port of Cleveland to help get them closer to construction. Two are mixed-use housing developments in Cleveland totaling 355 residential units. The third is a new, 136-room AC Marriott hotel at Valor Acres, the former Veterans Administration (VA) Hospital site in Brecksville.

MORE:

https://neo-trans.blog/2025/06/12/port-oks-92m-for-cleveland-brecksville-projects/

1 hour ago, cadmen said:

Good news yes, but my bias is showing when l wish SHW had built the Valor Acres project somewhere in the Flats. Brecksville has natural beauty and can take care of itself. It didn't need SHW's help.

I do think the hotel could be a great location to capitalize on National Park tourism.

5 hours ago, cadmen said:

Good news yes, but my bias is showing when l wish SHW had built the Valor Acres project somewhere in the Flats. Brecksville has natural beauty and can take care of itself. It didn't need SHW's help.

So much property available in Cleveland, yet SHW R &D went to Brecksville, Jimmy World likely going to Brook Park and jail going to Garfield Heights. 🤨

10 minutes ago, LibertyBlvd said:

So much property available in Cleveland, yet SHW R &D went to Brecksville, Jimmy World likely going to Brook Park and jail going to Garfield Heights. 🤨

Don't forget Great Lakes!

8 hours ago, LibertyBlvd said:

So much property available in Cleveland, yet SHW R &D went to Brecksville, Jimmy World likely going to Brook Park and jail going to Garfield Heights. 🤨

CERCLA and dealing with Cleveland's bureausclerosis.

9 hours ago, LibertyBlvd said:

So much property available in Cleveland, yet SHW R &D went to Brecksville, Jimmy World likely going to Brook Park and jail going to Garfield Heights. 🤨

Cleveland pulled off the biggest poaches luring the VA and Cross Country mortgage away from Brecksville. These moves brought thousands of jobs and continue to generate significant spinoff development in the city.

Edited 21 hours ago21 hr by Clefan98

10 hours ago, LibertyBlvd said:

So much property available in Cleveland, yet SHW R &D went to Brecksville, Jimmy World likely going to Brook Park and jail going to Garfield Heights. 🤨

Where is 185 acres of clean, contiguous land owned by willing sellers in Cleveland? The Site Readiness Fund is just getting going thanks to a rare $50 million shot in the arm from the feds. Yes, this should have happened sooner but better late than never. And even then, stitching together and cleaning up 36 acres of land like the National Acme site (one of the largest, if not the largest redevelopment sites in the city of Cleveland) is going to cost nearly $20 million.

By contrast, DiGeronimo paid the city of Brecksville $5 million for 102 acres of the former VA Hospital site. And many large cornfields go for much less than that. Very hard for the city of Cleveland to compete with that, but at least they're finally trying.

1 hour ago, Clefan98 said:

Cleveland pulled off the biggest poaches luring the VA and Cross Country mortgage away from Brecksville. These moves brought thousands of jobs and continue to generate significant spinoff development in the city.

Our rare point of agreement. Indeed, the VA and the SW tech center was a literal tradeoff. Both ended up in more suitable locations than they were.

Often enough, it's the health of the county/region that's key. Different spots suit different places....and people.

37 minutes ago, KJP said:

Where is 185 acres of clean, contiguous land owned by willing sellers in Cleveland? The Site Readiness Fund is just getting going thanks to a rare $50 million shot in the arm from the feds. Yes, this should have happened sooner but better late than never. And even then, stitching together and cleaning up 36 acres of land like the National Acme site (one of the largest, if not the largest redevelopment sites in the city of Cleveland) is going to cost nearly $20 million.

By contrast, DiGeronimo paid the city of Brecksville $5 million for 102 acres of the former VA Hospital site. And many large cornfields go for much less than that. Very hard for the city of Cleveland to compete with that, but at least they're finally trying.

Cornfields don't have potential inherited environmental liability either. The various brownfields remediation efforts are good but they aren't perfect. You could ask Taylor Chair, but....

1 hour ago, KJP said:

Where is 185 acres of clean, contiguous land owned by willing sellers in Cleveland? The Site Readiness Fund is just getting going thanks to a rare $50 million shot in the arm from the feds. Yes, this should have happened sooner but better late than never. And even then, stitching together and cleaning up 36 acres of land like the National Acme site (one of the largest, if not the largest redevelopment sites in the city of Cleveland) is going to cost nearly $20 million.

By contrast, DiGeronimo paid the city of Brecksville $5 million for 102 acres of the former VA Hospital site. And many large cornfields go for much less than that. Very hard for the city of Cleveland to compete with that, but at least they're finally trying.

Isn't that what the whole point of Opportunity Corridor? Vacant land surrounding a highway? Or are we finally going to admit that boondoggle was just yet another "Opportunity" to put another freeway smack dab in the middle of the city so Karen from Brunswick doesn't have visualize the poors to get to CCF

Just now, AsDustinFoxWouldSay said:

Isn't that what the whole point of Opportunity Corridor? Vacant land surrounding a highway? Or are we finally going to admit that boondoggle was just yet another "Opportunity" to put another freeway smack dab in the middle of the city so Karen from Brunswick doesn't have visualize the poors to get to CCF

Ok rant over. Off topic

Technically, OC is not a freeway. It probably should have been IMO.

3 hours ago, AsDustinFoxWouldSay said:

Isn't that what the whole point of Opportunity Corridor? Vacant land surrounding a highway? Or are we finally going to admit that boondoggle was just yet another "Opportunity" to put another freeway smack dab in the middle of the city so Karen from Brunswick doesn't have visualize the poors to get to CCF

I responded here to keep this thread on-topic....