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Cleveland Development Thread

Do Not Sell My Personal Information
I happen to know the good folks who closed the financing for this. Wonder what is next (after a well deserved vacation, I'd presume).

This thread needs a good grave-dig every once in a while.
 
that was a great read...really seems like Cleveland is moving in the right direction and making the city more attractive to people who aren't from the area and think its "trash". I am actually graduating a year from now and would not mind getting a job in Cleveland and getting an apartment down there
 
Ruken said:
June 2015 is right when I get out of law school. I would absolutely look at getting one of those apartments down there.
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I love everything that's going on downtown and would absolutely love to live in these apartments. My worry is that they are going to be extremely high-end and price out alot of the market. In the end, as long as they are filled thats a boost for Cleveland, just hope they don't overdue it. Even now two years removed from school with a great job, I think at the cost one of these places will be monthly, might as well get a house with a similar mortgage payment.
 
Remi said:
I love everything that's going on downtown and would absolutely love to live in these apartments. My worry is that they are going to be extremely high-end and price out alot of the market. In the end, as long as they are filled thats a boost for Cleveland, just hope they don't overdue it. Even now two years removed from school with a great job, I think at the cost one of these places will be monthly, might as well get a house with a similar mortgage payment.
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That's a good point. Not sure about the others, but I heard the ones in the East Flats will be pretty pricey.

I'll use myself as an example to make a point that doesn't make it seem as bad. I currently live in Fairlawn and spend $200 (getting 30-35 mpg) a month on gas just to go back and forth to work. The way I look at it is if I were to move downtown, I could afford another $200 in rent a month. Walk or talk the free trolley to work every day. Maybe drop your insurance to liability instead of full coverage, or maybe even get rid of your car. I am not really interested in moving downtown, but I think it's important to consider the cost savings by moving closer to work even though you may be paying higher rent. I'm looking to move into the Independence area to cut my fuel expenses in half, save time on my commute (get off at 5:30 and I get home around 6:20-6:30), and be able to sleep in longer.
 
Read the Cleveland Downtown Alliance report. I found it surprising that the number of residents living downtown is the highest its ever been (~15k if I recall correctly). I wonder what the saturation point will be. I will be curious to see what type of family type apartments are developed downtown, too, and how the matter of the shitty school system is managed for them (which might be a major hurdle to overcome).

Anyway, will be back in town for a visit in June/July. Looking forward to seeing the art museum and some of the other new development projects.
 
I do not know of any nor think any family apartments will be developed downtown. Families to do not want to live downtown.
 
Pick6 said:
I do not know of any nor think any family apartments will be developed downtown. Families to do not want to live downtown.
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That was my belief and perhaps is the case. Nevertheless, there has been at least some talk about developing housing for families. This article from PD last month talks about proposed (in early stages) development around Browns Stadium. One of the people quoted in article mentions a market for families. I wondered how viable of a market it will be.

When you say families do not want to live downtown, is it downtown Cleveland? Or downtown in any sizable city? Is Cleveland lacking something that makes it a viable option for families? Schools I see as a major obstacle. Thanks for posting that report, by the way. Interesting read.

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side note: Michelle Jarboe McFee of The Plain Dealer does a good job covering the recent development news in Cleveland.
 
Remi said:
I love everything that's going on downtown and would absolutely love to live in these apartments. My worry is that they are going to be extremely high-end and price out alot of the market. In the end, as long as they are filled thats a boost for Cleveland, just hope they don't overdue it. Even now two years removed from school with a great job, I think at the cost one of these places will be monthly, might as well get a house with a similar mortgage payment.
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think the difference is if you want to live in the city or in more of a neighborhood feel. I absolutely want to live in an urban downtown for a few years before raising a family. It cuts down on commute to work and the nightlife is easily accessible.

Not really Cleveland development related but can we talk about how awesome it is that lyft and uber are now in Cleveland? Saves me having to overpay cab drivers to take me back to the eastside.

I really hope downtown keeps this revival going and attracts some more companies into the area. Downtown will only thrive provided there are jobs for young professionals in the area.
 
Ruken said:
think the difference is if you want to live in the city or in more of a neighborhood feel. I absolutely want to live in an urban downtown for a few years before raising a family. It cuts down on commute to work and the nightlife is easily accessible.

Not really Cleveland development related but can we talk about how awesome it is that lyft and uber are now in Cleveland? Saves me having to overpay cab drivers to take me back to the eastside.

I really hope downtown keeps this revival going and attracts some more companies into the area. Downtown will only thrive provided there are jobs for young professionals in the area.
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Glad you mentioned it, actually. I think it is absolutely related. Lyft and Uber are going to be additional "arteries" going into the heart of the City. Taxi service has always been lackluster in the burbs, it's about time more options are available.
 
RappSoda said:
Glad you mentioned it, actually. I think it is absolutely related. Lyft and Uber are going to be additional "arteries" going into the heart of the City. Taxi service has always been lackluster in the burbs, it's about time more options are available.
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Plus the amount of ovecharging they engage in is ridiculous.
 
I hate having to take a cab to and from downtown when I'm going out. So expensive
 
Met the guy that runs the East Bank Flats project....I wasn't aware of this, but Toby Keith's I love this bar, is going to have concerts every weekend throughout the summer.

The river boat is coming back, headed by the Metro parks to get from the East to West.

The 9 Project looks amazing.

As they discussed these housing initiatives, my only thought was......where in the hell are they going to find all these people that can actually afford to live in these places? They just seem so unreal expensive.
 
Remi said:
I love everything that's going on downtown and would absolutely love to live in these apartments. My worry is that they are going to be extremely high-end and price out alot of the market. In the end, as long as they are filled thats a boost for Cleveland, just hope they don't overdue it. Even now two years removed from school with a great job, I think at the cost one of these places will be monthly, might as well get a house with a similar mortgage payment.
Click to expand...

Regarding affordable apartments downtown, some might be on their way. Cool looking building.

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Millennia Companies to buy Garfield Building for apartments, plans downtown Cleveland HQ move

By Michelle Jarboe McFee, The Plain Dealer

CLEVELAND, Ohio -- A growing apartment business based in Cleveland's suburbs will establish a downtown foothold this year, starting with the purchase of the historic Garfield Building at Euclid Avenue and East Sixth Street. The Millennia Companies recently signed a purchase agreement on the Garfield Building, a largely empty office building set for conversion into housing. Built in the late 1800s by two of President James Garfield's sons, the longtime bank building could become 172 apartments above ground-floor restaurants or stores. … [snipped]

Affordable Housing Finance, a trade publication, ranks Millennia among the nation's top acquirers and rehabbers of affordable apartments, based on the number of units purchased or renovated. By Sinito's rough estimate, the company's portfolio is 75 percent affordable - for lower-income renters - and 25 percent full-priced. The Garfield Building renovation would fall into the second category, with one-bedroom apartments renting for $600 to $850 a month, on average. Millennia's plans call for 150 one-bedroom units and 22 two-bedroom units. Penthouse tenants might pay $2,000 to $2,500 a month. … [snipped]

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