Friday, May 2, 2014

Intesa Project at University Circle is alive again

Yet another project in the heart of University Circle that was thought to be dead or on the back burner has been given new life through a recent press release by the developers.

This development is slated to replace one of the largest remaining surface parking lots in the heart of University Circle -- an area called the "Triangle" as it is bordered by Euclid Ave., Mayfield Rd., and the GCRTA's Red Line. In anticipation of this development, and in an all-around smart move, the GCRTA is relocating its disused East 120th rapid transit station to Mayfield Road, thus turning the Intesa project into a solid transit-oriented development project.

Here's the crib sheet on the project details:

  • $100-110 million investment (5-10% public sourced)
  • 2.2 acre site, currently surface parking
  • 200 market rate apartments 
  • 700-space parking garage tucked away next to the railroad tracks
  • 100,000 square feet of office space
  • 3 separate buildings from 8-12 stories
  • Ground floor retail
  • Additional parking garage proposed to be built on University Hospital surface lot to the south
  • Direct access to GCRTA's new Mayfield/Little Italy train station
  • Groundbreaking on apartments to happen this fall, to be completed 2016

This is just yet another project pushing forward on University Circle, Inc.'s grand master plan to eradicate the neighborhood of surface parking lots. This looks like it's going to happen, as that unsightly surface lot is one of the last remaining spaces of vacant land in this part of town, and it's crucial for connecting the fabric of the vibrant Little Italy neighborhood with the technology, arts, education and medical hub contained in University Circle.

Read the new article here.

Here is an article from 2012 detailing the project's debut.

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