Friday, April 11, 2014

Residential highrise planned for construction in University Circle

Folks who keep tabs on these sort of things will remember that some time ago, University Circle Inc. released the rendering to the left as an idea as to the kind of development it was planning in its fiefdom.

University Circle, Inc. is the nonprofit community development corporation charged with fostering development and community advocacy in the neighborhoods comprising and surrounding University Circle. This organization, together with constituents like Case Western Reserve University, Cleveland Clinic, University Hospitals, the Cleveland Orchestra and several museums that make appearances in the top 10 in the country, represent the greatest philanthropic power base in the state. In other words, when they say they will make something happen, they make it happen. Several of their recent successes are evident, like Uptown, which literally created a neighborhood of apartments and shops from the sandy CWRU parking lots once jokingly referred to as "Hessler Beach."

UCI is getting serious about this project. We can't ignore this one in typical Cleveland when-pigs-fly fashion.

Here is the scoop on this project:

  • Sited where current Children's Museum is located, on UCI-owned land
  • 25-28 story residential luxury highrise tower
  • 280 units ranging from 720 square feet to a 4,200 sq. ft. penthouse, all with floor-to-ceiling windows
  • concierge service
  • indoor pool
  • green rooftop
  • work to begin in summer of 2015, completed by 2017
  • Developed by First Interstate Properties
"I've never sat down with a newspaper reporter and talked about a project that hasn't come to fruition," said Mitchell Schneider, First Interstate's president. "Barring unforeseen circumstances, this is a very real project. We are spending real dollars on our due diligence and homework at this time, and we already have done so."

Read full article on here.

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