Luxury townhouses planned for Little Italy in Cleveland

Posted by Michelle Jarboe/Plain Dealer Reporter

December 08, 2008 16:26PM

 

http://blog.cleveland.com/business/2008/12/luxury_condominiums_planned_in.html

 

 

Developers have snagged a $5 million construction loan and plan to break ground soon for 27 townhouses in Little Italy.

 

Launching a residential project now might seem risky at best and, at worst, a tad insane. The housing slump has driven new home construction to its slowest pace in decades, and developers in Northeast Ohio and nationwide are shelving plans until the credit crisis is over.

 

But Andrew Brickman, a partner in Little Italy Preservation Partners LLC, just opened a design and sales center across from Presti's Bakery on Mayfield Road...

If I could pick anywhere in town to live, it would be in this area.  So I'm just glad they're doing all this new housing there.  I like these and I like the other ones too.  That stretch of Euclid is going to look very different in a few years and the new stuff mostly looks good on paper. 

IMO, best website I've yet seen for a CLV project.  I really like what I've seen in terms of finished work (townhomes on East Derbyshire) from architect Scott Dimit.

Not a fan of the parking arrangement represented in the rendering.

 

I also greatly prefer the Derbyshire style over these modern-boxy designs.

Not a fan of the parking arrangement represented in the rendering.

 

I also greatly prefer the Derbyshire style over these modern-boxy designs.

 

I don't like the parking arrangement either..

I agree, the parking looks very motel 8.  The building looks cool though.

LITTLE ITALY PRESERVATION PARTNERS ANNOUNCES

27 COLTMAN LUXURY TOWNHOMES IN LITTLE ITALY

 

design centre opens, groundbreaking ceremony to be scheduled soon.

 

Cleveland, OH – December 11, 2008 – Situated in one of Cleveland’s most vibrant neighborhoods,

officials at Little Italy Preservation Partners (LIPP) announced 27 Coltman, its newest luxury

townhome project in Little Italy on Monday, December 8th. 27 Coltman, a $10 million private

gated community will feature 27 fee simple luxury townhomes.

 

With financing secured through KeyBank, Andrew Brickman, Partner, is enthusiastic about 27

Coltman’s prospects. “We already have several commitments from buyers, and the response from

the community, thus far, has been extremely encouraging. We feel, by adding 27 Coltman to the

neighborhood’s fabric, we’re going to make Cleveland’s best neighborhood even better.”

 

In anticipation of the soon to be scheduled groundbreaking, the 27 Coltman Design Centre opened

in the heart of Little Italy at 12026 Mayfield Road between Gustos and La Dolce Vita. Designed

with the same eco-friendly passion, the 27 Coltman Design Centre is a timeless “warm modern”

design, with an open space floor plan and contemporary finishes.

 

location

 

Situated on Coltman Road between Mayfield Road and the new RTA ‘Healthline’ on Euclid Avenue,

27 Coltman Luxury Townhomes is at the epicenter of University Circle’s world class cultural, educational,

and medical communities. Various entertainment, fine and casual dining, shopping, public

transportation, and recreational opportunities are just around the corner throughout Little Italy.

 

economic and financial incentives

 

Buyers, who meet certain conditions, are also able to take advantage of the many financial

incentives being offered.

 

• 15 year 100% tax abatement is provided by the City of Cleveland

• Up to $15,000 in forgivable loans available to apply towards down payment or closing costs

through the Greater Circle Living Program

• 1.5% below market fixed interest rates for 30 years through KeyBank’s Urban Assistance

Program for qualified applicants

• $7,500 first time owner’s tax credit from the federal government

 

For additional information about Little Italy Preservation Partners and 27 Coltman, please contact

Justin Campbell at 216.870.4442 or Andrew Brickman at 216.965.4514.

 

about little italy preservation partners:

 

Little Italy Preservation Partners, award-winning team responsible for The Brownstones at

Derbyshire in Cleveland Heights, develops first-class luxury housing and mixed-use properties both

locally and internationally. Well-capitalized and creative in working with lenders to secure

financing, LIPP ambitiously plans to break ground on their newest project, 27 Coltman, in early

2009. LIPP believes in exceptional product quality, architectural design, and customer service. To learn more about 27 Coltman, visit www.27Coltman.com.

 

###

Is it possible the previous posts in the Univ. Circle thread can be moved here?

I moved the messages that I could confirm were related to the 27 Coltman project.

Here's a link for WCPN, where Rick Jackson conducts a short interview with the developers.  Audio.  Text below.

 

http://www.wcpn.org/index.php/WCPN/news/15708/

 

Condo Boom In Little Italy

Posted Sunday, December 14, 2008

Topics: Economy, Other

 

 

 

In the face of a collapsed housing market, new construction has almost come to a standstill in parts of Ohio. An exception emerged last week though, from Little Italy...a neighborhood that's part of Cleveland's "University Circle" area. Activity is planned in Little Italy, where new, high-dollar condos seem to be the choice of developers. ideastream®'s Rick Jackson reports.

Llittle Italy is known for its galleries, shops, dining...and its history as home to the stone cutters and craftsmen who for decades built much of Cleveland’s most elegant buildings.  now Little Italy appears to be on the verge of another building boom.  Local developer Andrew Brickman is poised to break ground on a high-end condo development with a special look.

 

BRICKMAN: “A lot of the influence comes from the products that are being done in the top cities in Europe and South America where you’ve got people are living in the cities, because the cities are older.

 

Brickman’s project is attracting attention for another reason. it has secured a $5 million loan from cleveland’s Key bank.  Key bank community lending manager Paul Ettorre says it makes sense depsite the long slide in the housing market.

 

ETTORRE: “We are very bullish about the University Circle area.  We believe it is a dynamic growing area of the city and we’re excited to continue to participate.”

 

There are a number of incentives in play to lure buyers.  The city of Cleveland will give tax abatements ....that translates into no city real estate tax for 15 years; Key Bank will make loans through a special urban loan program that provides reduced interest rates; and buyers who are employed by University Circle businesses can get home purchase grants of up to 15-thousand dollars.

 

Many buyers will need the extra boost because these condos are expected to be priced at nearly one half million dollars. Building partner Justin Campbell is optimistic. 

 

CAMPBELL: “There is an audience out there that will respond to it; and Cleveland is a sophisticated city, and is looking for something like this. being located here in little italy with all the cultural institutions, the medical community - I think you’re going to have a captive audience that will respond to this.”

 

It’s a bold move; in an uncertain economy.

Rick Jackson, 90.3.

 

 

Good to see things still moving along, even in this economy! =-0)

If anyone is on Facebook, there's a group that I started for Little Italy.  Here's the link. http://www.facebook.com/home.php?ref=home#/group.php?gid=60086506440

 

 

 

Feel free to join and add pictures on it if you like.

Is there any interest in the Mayfield?  Can't it be restored into some decent apartments or something?  Have developers shown any interest?  God it is so horrible looking among everything.

Is there any interest in the Mayfield?  Can't it be restored into some decent apartments or something?  Have developers shown any interest?  God it is so horrible looking among everything.

 

Talk is that it would take at least $1 mil to get it back to its glory. 

^I just think it would be a great investment.  One of the things LI surely lacks is modern apartments.  I would think it would be an absolute boon for anyone who can shell out the money.

Is there any interest in the Mayfield? Can't it be restored into some decent apartments or something? Have developers shown any interest? God it is so horrible looking among everything.

 

Talk is that it would take at least $1 mil to get it back to its glory.

 

 

 

I agree that the Mayfield is really a black eye for Little Italy, and it has been like that for as long as I can remember.  I cant believe that it hasnt been more of a priority for the Community Development Corporation there(unless Im unaware of something).  They are managing to move on similar projects in other neighborhoods that are costing quite a bit more.  They also managed to get the support of foundations and the city. 

 

So a quick rundown of the others would indicate that 1 million would be a small price to pay in comparison......

The Variety on Lorain is going to cost at least 8 million (they have raised part of that and are moving forward) they are adding apartments and storefronts, then there's the Capital Theater in Detroit Shoreway which is costing 7 million, and finally the La Salle on E.185 which will cost 1.4 million to restore. 

Is there a feasible market for this building, as a theater?  Shaker Square and the Cedar Lee are stiff competition within the market area, and the theater at Coventry has gone through several iterations, seemingly struggling to make a go of it.  The Play House and university theaters probably don't leave much market for a live theater.  The neighborhood might want to consider restoring the facade to its' former glory but demolishing the rest of the building and constructing a parking garage, disguised from the street as a theater with vehicular access from the alley at the back.  I have no idea if the theater is worth saving/restoring or not.  A new Mayfield RTA station will be great, but the neighborhood businesses would do much better with more plentiful parking available.  This building is long and narrow, tucked up closely to other buildings.  There is little opportunity to provide decent views, so a residential or office conversion might not have a lot of selling points.  Reliable parking is quite possibly the limiting factor to neighborhood growth in Little Italy, both from a commercial and residential standpoint.  Without the reliable, convenient (yet somewhat hidden) parking decks, Coventry & Cedar Fairmount would not be what they are today.  A parking garage is probably a more reliable way to pay for itself than a theater restoration.  The conversion to a parking deck could help reinvigorate the rest of the neighborhood - potentially a palatable trade off.

Although I haven't been to LI in years, I have to say, parking garages is not the answer.  MTS hates garages/parking lots!

:whip:

 

Yeah, there may not be much of a market for movie theaters , with all the others either operating, struggling or in progress.  And you can only have so many "arts" theaters.  What about performance space where performing arts groups can lease and perform/practice, or is that also overdone.... 

Yeah, there may not be much of a market for movie theaters , with all the others either operating, struggling or in progress. And you can only have so many "arts" theaters. What about performance space where performing arts groups can lease and perform/practice, or is that also overdone....

 

Yeah .. I was wondering about that, too, actually. There has to be some kind of out-of-the-box kinda usage for spaces like this in Cleveland. It'd be such a shame to lose something like this.

Although I haven't been to LI in years, I have to say, parking garages is not the answer. MTS hates garages/parking lots!

:whip:

 

 

Uh oh, he's starting to refer to himself in third person....

Although I haven't been to LI in years, I have to say, parking garages is not the answer.  MTS hates garages/parking lots!

:whip:

 

 

Uh oh, he's starting to refer to himself in third person....

 

MTS thanks you!

I heard that the Coltman townhomes should be going up soon. I'm not sure how they are phasing the development, but i do know that they have sold at least one unit.

Thanks for the info 3231.  If they are indeed phasing, I really hope they start out with the Mayfield Rd and E.119th Corner, it has a lot more visibility.  But based on the site plan that wouldn't seem to make much sense.

^Mayfield and E119 is a different project/different developer from Coltman, no?

holy crap you're right... it looks like 27 coltman only goes up to sadari's.  So which project is the one for 119th and Mayfield?

^The one with the silly cursive "Little Italy" written in lights on the southern facade...  There is definitely discussion of it on one of these boards.

This?

 

^Yeah.  That sign has been up for AGES even though I thought the planning commission gave the go-ahead a year ago.

Sweet!  I love it.  Let's build 10 of those.

That's the one... actually I recall an article by litt saying most hurdles cleared and they were supposed to start soon? or maybe that was coltman.  now I have these confused.  I just did a search, there are a lot of mayfield lofts articles in various threads, random cleveland, general UC, etc.  This weekend I may try to bring all those into this thread.  In the meantime anyone know the status?

I remember that debate now.  Cleveland needs to remove all height maximums from its zoning and replace them with minimums.  Nip that right in the bud.

http://blog.cleveland.com/architecture/2009/02/cleveland_architect_scott_dimi.html

 

Cleveland architect Scott Dimit raises his profile with two new residential projects

Posted by Steven Litt / Plain Dealer Architecture Critic

February 24, 2009 09:35AM

 

The recession has dampened residential real estate activity in Cleveland dramatically. But there are signs of life amid the gloom, including two new small- and medium-sized projects in Rocky River and Cleveland's Little Italy neighborhood, led by developer Andrew Brickman.

 

Brickman said he has financing for both projects, from Parkview Federal Savings Bank and from Key Bank, respectively, and plans to start construction this year. That alone would be newsworthy in a climate that has seen large developments in Cleveland languish for lack of construction money...

"The recession has dampened residential real estate activity in Cleveland dramatically."

 

Yeah. Just Cleveland. Only in Cleveland. Certainly nowhere else BUT Cleveland!!!

here is a link to his website, can someone yank the pictures of the two projects referenced?  The coltman project is of substantial size... bigger footprint then I expected.  Not too shabby.

http://www.dimitarchitects.com/residential.htm

 

Nothing too exciting going on yet, but dirt is being moved and some foundations getting laid at Coltman Townhomes...

Some movement on the 27 Coltman project.  It looks like 5 of the 27 have been started.  Pictures from over the weekend.

Drove past Mayfield Lofts the other day and, for the 1st time, noticed a rendering similar to that in Steve Litt's PD piece (below) 1.5 years ago pushing for condo zoning... Maybe it's been there for a while, but I only remember a blank sign before... The website claims it'll be up, soon, but so far, nothing... Is this project moving forward?

 

 

http://blog.cleveland.com/architecture/2008/04/little_italy_condo_project_sho.html

 

That sign has been up for perhaps a year.

 

Here are some pics on the progress of 27 Coltman in Little Italy / UC.

It looks like there will be a bunch of these when it's all done. (I know... 27 of 'em)

(Circle 118 (no pics) directly across Euclid Ave is coming along too)

 

 

 

 

 

 

 

 

 

 

 

 

The McCullough Ctr of the CIA is directly across the Rapid tracks , the upper floors of many Coltman units will have this building within view.

The new many-paned green windows look good. Warehouse-y.

 

I like the black and brown color scheme. Very manly! It will be a bitch to cool those in the summer, but they'll be nice and toasty on a sunny winter day.

Thanks Clueless for the photo updates!  Both projects looking good.

wow...what a deal!!

 

La Dolce Vita building in Little Italy sold at court-ordered auction

By Michelle Jarboe, The Plain Dealer

November 02, 2009, 5:44PM

 

CLEVELAND, Ohio -- A high-profile building in Cleveland's Little Italy neighborhood sold at a court-ordered auction Monday, ending a foreclosure process that began in early 2005.

 

Lender JDI Murray Hill LLC entered the only bid -- $333,334 -- for the three-story building that houses La Dolce Vita bistro.

 

MORE AT CLEVELAND.COM http://www.cleveland.com/business/index.ssf/2009/11/la_dolce_vita_building_in_litt.html

 

That seems like all good news.  Now if only someone could get a hold of the former Corbos building across the street  :)

McCleveland I agree something needs to be done with that building. I have no idea what the history is concerning the owners but during my last visit it was really depressing to see such a vital corner looking so ghetto. Something strange must be going on because someone should have snatched that building up by now. Perhaps someone on here has the inside scoop.

Well... I meant to post this a while ago, but the last few times my wife and I have headed down for our Mama Santa fix, I noticed that the storefronts are being renovated in the old corbo's space.  There is construction paper up, and building permits in the windows.  No idea what is going on, but it's great to finally seeing this space get spruced up.

Has there ever been any progress on getting the powerlines/telephone poles on Mayfield behind the buildings or is this an abandoned concept?

Well... I meant to post this a while ago, but the last few times my wife and I have headed down for our Mama Santa fix, I noticed that the storefronts are being renovated in the old corbo's space.  There is construction paper up, and building permits in the windows.  No idea what is going on, but it's great to finally seeing this space get spruced up.

 

I was over there today and I noticed that Patrizia's just across the street has been emptied out. And the space is for rent. I wonder if that store is moving across the street to the Corbo's place. I hope that it's not leaving the Mayfield & Murray Hill intersection totally...it had great character with the Italian music playing and the Italia Soccer club shirts hanging over the sidewalk... although I think there is another(?) Patrizia's at Random Rd. & Mayfield, or at least it's something very similar.

 

Here is Patrizia's  (or was):

 

Souper Market's website says they are looking to put a shop in little Italy.  Perhaps they are responsible for some of the movement.

This is very interesting and encouraging.  Shows that a quality product in a great location can work even in these dark days for real estate.  So c'mon UARD, what's taking you so long?!

 

Luxury townhouses in Cleveland's Little Italy are selling, but court fight looms

By Michelle Jarboe, The Plain Dealer

February 08, 2010, 2:50PM

 

A luxury townhouse development in Little Italy appears to be thriving, despite the rough real estate market and an escalating dispute with neighboring property owners.

 

Developers of the 27 Coltman project, townhouses on the rim of Cleveland's University Circle, say they have sold 23 of the 27 homes since early 2009.

 

http://www.cleveland.com/business/index.ssf/2010/02/luxury_townhouses_in_cleveland.html