February 14Feb 14 Author 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
February 14Feb 14 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.
February 14Feb 14 Author 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....
February 14Feb 14 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.
February 15Feb 15 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
February 15Feb 15 4 hours ago, AsDustinFoxWouldSay said: Knowing a few R&D employees, they frankly couldn't care less Hey !
February 16Feb 16 Author 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
February 16Feb 16 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.
February 17Feb 17 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
February 17Feb 17 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.
February 17Feb 17 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!
April 29Apr 29 https://www.cleveland.com/entertainment/2025/04/flour-restaurant-expanding-with-2nd-location.htmlFlour 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."
May 12May 12 https://www.crainscleveland.com/real-estate/valor-acres-sets-tone-future-developmentsAs Valor Acres rises, it's setting the bar for future developmentsSite in Brecksville is quickly becoming one of the hottest real estate sites in Northeast OhioHaving a positive effect on the entire Northeast Ohio commercial real estate market, developers and brokers say, proves there is still high demand for office spaceExpected 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 wayDiGeronimo 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
May 12May 12 48 minutes ago, Geowizical said:https://www.crainscleveland.com/real-estate/valor-acres-sets-tone-future-developmentsAs Valor Acres rises, it's setting the bar for future developmentsSite in Brecksville is quickly becoming one of the hottest real estate sites in Northeast OhioHaving a positive effect on the entire Northeast Ohio commercial real estate market, developers and brokers say, proves there is still high demand for office spaceExpected 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 wayDiGeronimo 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 spaceDoes Crain's put "sponsored content" behind their paywall?
May 12May 12 11 minutes ago, E Rocc said:Does Crain's put "sponsored content" behind their paywall?Dunno. Just sharing the article
May 20May 20 On 5/12/2025 at 7:27 AM, Geowizical said:https://www.crainscleveland.com/real-estate/valor-acres-sets-tone-future-developmentsAs Valor Acres rises, it's setting the bar for future developmentsSite in Brecksville is quickly becoming one of the hottest real estate sites in Northeast OhioHaving a positive effect on the entire Northeast Ohio commercial real estate market, developers and brokers say, proves there is still high demand for office spaceExpected 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 wayDiGeronimo 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 spaceFWIW, I live in Broadview Heights and people have been THRILLED with VA thus far.
17 hours ago17 hr Port OK’s $92M for Cleveland, Brecksville projectsBy Ken Prendergast / June 12, 2025A 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/ "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
16 hours ago16 hr 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
14 hours ago14 hr 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.
13 hours ago13 hr 3 hours ago, KJP said:Port OK’s $92M for Cleveland, Brecksville projectsBy Ken Prendergast / June 12, 2025A 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.
9 hours ago9 hr 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. 🤨
9 hours ago9 hr 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!
57 minutes ago57 min 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.
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