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.

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 Cleveland.com here.