June 18, 201212 yr Yes, I'm sure J. O'Donnell is working hard to make sure everyone is "equally dissatisfied"
June 19, 201212 yr Here is the Plain Dealers coverage: http://www.cleveland.com/business/index.ssf/2012/06/avenue_district_condo_tower_ne.html
June 28, 201212 yr Some good news for Erieview Tower "Tower at Erieview in downtown Cleveland avoids foreclosure; owner, mezzanine lender buy note CLEVELAND, Ohio -- One of downtown Cleveland's best-known buildings won't be lost to foreclosure, thanks to a deal struck by a determined property owner and a Philadelphia lender. Court records show that C-III Asset Management, a special servicer tasked with handling bad loans, filed a motion Monday to dismiss a foreclosure lawsuit on the Tower at Erieview." http://www.cleveland.com/business/index.ssf/2012/06/tower_at_erieview_in_downtown.html Some work to be done including renovating the lobby and replacing the elevators
June 28, 201212 yr Some good news for Erieview Tower "Tower at Erieview in downtown Cleveland avoids foreclosure; owner, mezzanine lender buy note CLEVELAND, Ohio -- One of downtown Cleveland's best-known buildings won't be lost to foreclosure, thanks to a deal struck by a determined property owner and a Philadelphia lender. Court records show that C-III Asset Management, a special servicer tasked with handling bad loans, filed a motion Monday to dismiss a foreclosure lawsuit on the Tower at Erieview." http://www.cleveland.com/business/index.ssf/2012/06/tower_at_erieview_in_downtown.html Some work to be done including renovating the lobby and replacing the elevators The worst post I've seen in a while..... I am sorry, I was hysterically laughing at your post: "I will tell you this, Downtown C-Town is on it's way back up" How is that even possible? Downtown Cleveland is FAR from coming back. Do some research, there is not enough industry coming to Downtown Cleveland. A casino and a passé "Medical Mart" will not do it. Nashville medical trade center beat Cleveland to the punch.
June 28, 201212 yr Michelle Jarboe McFee's coverage. The best kind of PD's coverage! Every time I see a story I like, it's her. The worst post I've seen in a while..... I am sorry, I was hysterically laughing at your post: "I will tell you this, Downtown C-Town is on it's way back up" How is that even possible? Downtown Cleveland is FAR from coming back. Do some research, there is not enough industry coming to Downtown Cleveland. A casino and a passé "Medical Mart" will not do it. Nashville medical trade center beat Cleveland to the punch. I disagree with this person's post. But if they'd only posted the second paragraph, I could at least respect them while disagreeing. That bit of sugar on top-- the part about I'm laughing hysterically at you-- is what makes them contemptible. Even if you're 8 years old talking like that, you're still a jerk. And this jerk is probably 35.
June 28, 201212 yr Michelle Jarboe McFee's coverage. The best kind of PD's coverage! Every time I see a story I like, it's her. The worst post I've seen in a while..... I am sorry, I was hysterically laughing at your post: "I will tell you this, Downtown C-Town is on it's way back up" How is that even possible? Downtown Cleveland is FAR from coming back. Do some research, there is not enough industry coming to Downtown Cleveland. A casino and a passé "Medical Mart" will not do it. Nashville medical trade center beat Cleveland to the punch. I disagree with this person's post. But if they'd only posted the second paragraph, I could at least respect them while disagreeing. That bit of sugar on top-- the part about I'm laughing hysterically at you-- is what makes them contemptible. Even if you're 8 years old talking like that, you're still a jerk. And this jerk is probably 35. I'm just wondering how Nashville beat Cleveland to the punch when #1 our MM is opening first and #2 Nashville's MM is constantly in flux.
June 29, 201212 yr On another note, there is construction activity in the Reserve Square storefront on E. 13th that used to house the grocery store before they moved it inside the building. I haven't had time to walk by and look at the permits yet.
June 29, 201212 yr On another note, there is construction activity in the Reserve Square storefront on E. 13th that used to house the grocery store before they moved it inside the building. I haven't had time to walk by and look at the permits yet. This is my building-- the permits do not explain any future tenant, but it explains that the inside is being torn out. They also placed a brand new concrete ramp from the entrance, so maybe something is moving in. Hopefully!(even though I'm movin out)
June 29, 201212 yr Doc Broc -- what's going on across the street from you at the tech center. Is the new parking lot open to anyone or is it being used by workers in the tech building?
June 29, 201212 yr Open to anyone - I think it's 3.75/day. There is ample lighting, security cameras, and it's possible the machine takes cards, although I've never really looked to know for sure.
July 2, 201212 yr Some good news for Erieview Tower "Tower at Erieview in downtown Cleveland avoids foreclosure; owner, mezzanine lender buy note CLEVELAND, Ohio -- One of downtown Cleveland's best-known buildings won't be lost to foreclosure, thanks to a deal struck by a determined property owner and a Philadelphia lender. Court records show that C-III Asset Management, a special servicer tasked with handling bad loans, filed a motion Monday to dismiss a foreclosure lawsuit on the Tower at Erieview." http://www.cleveland.com/business/index.ssf/2012/06/tower_at_erieview_in_downtown.html Some work to be done including renovating the lobby and replacing the elevators Maybe some possibility for residential? It's currently 40% vacant...
July 2, 201212 yr Some good news for Erieview Tower "Tower at Erieview in downtown Cleveland avoids foreclosure; owner, mezzanine lender buy note CLEVELAND, Ohio -- One of downtown Cleveland's best-known buildings won't be lost to foreclosure, thanks to a deal struck by a determined property owner and a Philadelphia lender. Court records show that C-III Asset Management, a special servicer tasked with handling bad loans, filed a motion Monday to dismiss a foreclosure lawsuit on the Tower at Erieview." http://www.cleveland.com/business/index.ssf/2012/06/tower_at_erieview_in_downtown.html Some work to be done including renovating the lobby and replacing the elevators Maybe some possibility for residential? It's currently 40% vacant... I would "think" that would be a hard sell. It's not like the building is empty. Honestly, I don't think it would make a great residential building. Nice views, about the 11th floor but nothing else.
July 2, 201212 yr Some good news for Erieview Tower "Tower at Erieview in downtown Cleveland avoids foreclosure; owner, mezzanine lender buy note CLEVELAND, Ohio -- One of downtown Cleveland's best-known buildings won't be lost to foreclosure, thanks to a deal struck by a determined property owner and a Philadelphia lender. Court records show that C-III Asset Management, a special servicer tasked with handling bad loans, filed a motion Monday to dismiss a foreclosure lawsuit on the Tower at Erieview." http://www.cleveland.com/business/index.ssf/2012/06/tower_at_erieview_in_downtown.html Some work to be done including renovating the lobby and replacing the elevators Maybe some possibility for residential? It's currently 40% vacant... I think the 1717 E9th, East Ohio Gas Building, will be the litmus test for doing modern office building to residential conversion. That building is completely empty though so would not face the same challenges as a 60% occupied (by office dwellers no less) building. Anything is possible with the right amount of money though. MTS how bout you through a garage sale for some of your Jimmy Choo' or whatever and add another apartment building to your portfolio.
July 11, 201212 yr Judge OKs settlement in Avenue Tower condo project litigation http://www.crainscleveland.com/apps/pbcs.dll/article?AID=/20120710/FREE/120719966
July 13, 201212 yr Work continues on Lizardville; the past view days they've been drilling out the front planters, etc.
July 13, 201212 yr Birch. Im hoping they are not removing all of them. Thanks! Agree, they'd look perfect for an outdoor patio space. I'm sure the Lizardville (and YMCA if done the right way) will inject a good dose of sidewalk activity for the Galleria.
July 13, 201212 yr Took a walk by there yesterday, and there are still a good number of trees there. The patio seating area is still surrounded, I think the area where Lizardville's patio is going will be more exposed. Hopefully they will do something to provide a wind block.
July 30, 201212 yr The website has been updated!! It now lists the apartments as rentals. http://www.zaremba.net//community/floor_plans.php?cid=2667 1Br are on the pricey side from 1200-2000, but 2 br are from 1500 to 3300, not including penthouses.
July 30, 201212 yr It will be interesting to see how these do. These are around $1.50 per square foot which may help to push up price per square foot in the rest of downtown if they are successful.
July 30, 201212 yr Hopefully good news and hopefully they will fill up quick. There's so much demand and supply isn't coming online quick enough!
July 30, 201212 yr The website has been updated!! It now lists the apartments as rentals. http://www.zaremba.net//community/floor_plans.php?cid=2667 1Br are on the pricey side from 1200-2000, but 2 br are from 1500 to 3300, not including penthouses. Fantastic to see
August 1, 201212 yr Avenue District tower sale closes, paving way for 56 downtown Cleveland condos to be rented An investor group has paid $6.8 million for the residential portion of the long-troubled Avenue District condominium tower in downtown Cleveland and aims to start renting out some of the 56 empty units this month. http://www.cleveland.com/business/index.ssf/2012/08/avenue_district_tower_sale_clo.html#incart_river_default
August 1, 201212 yr It could go either way. My building's website does not say anything about parking and it is extra.
August 1, 201212 yr I'm disappointed the most that the other phases weren't built at least before this whole debacle started....It would have been beautiful to see those new buildings bustling with new residents and shoppers...Side note how are those town homes doing as far as residents? Are they full?
August 1, 201212 yr There are still a few for sale. I'm pretty sure someone on the board lives over there to say for sure, but I think it's 3-5 empty townhomes.
August 1, 201212 yr There are still a few for sale. I'm pretty sure someone on the board lives over there to say for sure, but I think it's 3-5 empty townhomes. Well how many of them were built because 3-5 seems like a lot and Im surprised a bit at that because UC town homes sold like hot cakes while these are slow going. Is there a big differential in asking price from the UC ones and these?
August 1, 201212 yr From everything I can find...30 and they are around $280-340,000 Ok well they are more expensive the the UC ones but that comes with the territory of living downtown but if thirty were built 3-5 empty isn't too bad
August 1, 201212 yr I just went through all 90 pages...OY! We have two UO people in the townhomes...I'd have to walk over there, but it looks like only 20 condos...the last two buildings of 5 each didn't pre-sell to start construction. It is so depressing to see 60% pre-sold go down to only a half handful of people buying in the condo building.
August 1, 201212 yr Last paragraph "With the litigation resolved, Lindner said Zaremba could tackle an apartment development on a parking lot just south of the townhouses, along Superior Avenue."
August 2, 201212 yr There were 20 built, 10 in each building. Four are unoccupied - all in the second building, and all the two most expensive floor plans. They've had a handful of contracts (or at least very interested parties) the past couple years for the few that are left that just didn't pan out for whatever reason. Way back when (circa 2007), there were plans for loft buildings in that Superior Lot they mention in the article. Then the townhomes started selling really well, so they changed the plan..... And then the economy went down the crapper. By the way, the townhomes have two infant residents now!
August 2, 201212 yr Yes, as in small humans. No baby brocccolis....... Yet. is that too tell us that even though people are reproducing they still choose to live downtown, which is going against what people say about only empty nesters staying downtown? I probably over thought that
August 2, 201212 yr Sort of...... But I mostly just thought some folks around here would be pleased to hear about MORE people raising kids downtown.
August 2, 201212 yr Sort of...... But I mostly just thought some folks around here would be pleased to hear about MORE people raising kids downtown. Thanks, that's great to hear! I'm on vacation in Chicago right now and it's nice to see all of the people with kids in the city, but it's depressing to think of what a stark contrast it is to most of Cleveland.
August 2, 201212 yr Yes, as in small humans. No baby brocccolis....... Yet. Haha...that's what I was getting at.
August 3, 201212 yr "Stark contrast to most of Cleveland?" You don't think there are kids in the neighborhoods around Cleveland? Guess you're implying "white" and families with some money.... Even then there are quite a few of these in parts of Cleveland!
August 3, 201212 yr I'll be really interested to see how they handle the ground level retail space. I'm not sure that 100 potential tenants above, or the mid-density of people in walking distance, will justify the mid- to high-end retail that was expected when this was a full three-block development of large buildings, lofts and townhomes. There's some great daytime population right around there, but it's also adjacent to the Galleria, which has a great deal of free space and soft tenancy, althought it's getting slowly better. At the same time, it looks pretty bad all boarded up like it is now ... That last sentence in the article is real intriguing ("With the litigation resolved, Lindner said Zaremba could tackle an apartment development on a parking lot just south of the townhouses, along Superior Avenue."). Is that just an extension of the townhome siteplan to the area fronting Superior but with a rental focus? Or a new type of building footprint for that spot? Or a completely different project on another parking lot (only one I can think of is the one next to Ambassador)? Interesting.
August 3, 201212 yr I'll be really interested to see how they handle the ground level retail space. I was thinking that this space could really liven up the hood. Not sure what would work there, but I'm so glad they are once again moving forward with this project. So much potential there with new residents in the mix. Right now, this part of town scares my co-workers because it's desolate after 5pm.
August 3, 201212 yr "Stark contrast to most of Cleveland?" You don't think there are kids in the neighborhoods around Cleveland? Guess you're implying "white" and families with some money.... Even then there are quite a few of these in parts of Cleveland! He said downtown, not the neighborhoods around Cleveland. He's right - there's not a lot of people under the age of 18 living in downtown Cleveland, black or white, so don't make this a racial thing.
August 3, 201212 yr No - he said "...but it's depressing to think of what a stark contrast it is to most of Cleveland." It doesn't matter. I'm sure it wasn't meant to emphasis race.
August 3, 201212 yr What he means is there are a ton of people with children living in downtown Chicago whereas there are very few living in downtown Cleveland. At least that's what i think he meant. I am one of the few who are trying to give it a go raising a child downtown. It's not easy when downtown is really only geared towards twenty/thirty somethings and empty nesters. Very little green space, no children's programs at the main library and not a single playground. As soon as those infants are old enough to walk, they will be gone too.
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