City of Cleveland Selects Lakefront Developers
- Mar 18, 2014
Cleveland’s lakefront has seen little major construction since the late 1990s. But that’s about to change. Last week, Mayor Frank Jackson’s Lakefront Development Advisory Committee selected a developer for the 28 acres at the water’s edge. The project is expected to breathe new life into the area and provide an economic boost for the city.
After months of interviews and proposals, the committee picked a development team out of the four interested in building up Cleveland’s lakefront. Based on recommendations from the committee, Mayor Jackson will now start negotiations with the development group which includes the Dallas-based Trammell Crow Co. and Cumberland Development LLC, a local commercial real estate company led by Richard Pace.
The Trammell Crow/Cumberland team proposed a mixed-use project to be developed in three phases. It was similar to the Cleveland Downtown Lakefront Development Master Plan passed by the city planning commission in May 2012.
Phase I calls for the construction of an office, retail and residential development on Dock 32, as well as restaurants and retail space between the Rock & Roll Hall of Fame and the Great Lakes Science Center and along the East 9th Street Pier. Phases 2 and 3 include the development of apartments and public waterfront amenities on Docks 30 and 28B.
No timeline for the project or construction costs have been announced so far. Before construction can start, the developers and the city still have to hammer out the finer details of the deal. The developers will also have to sign a long-term lease with the city for the land.
“Development of the lakefront is important for the continuing economic growth of our city as well as providing amenities for residents and visitors to enjoy,” Mayor Jackson said in a statement for the press. “I thank the Lakefront Advisory Committee members for their hard work in reviewing the submissions and their recommendation of Trammell Crow and Cumberland who have exceptional development skills, a willingness to invest, and a shared vision for a lively waterfront and I look forward to taking the next steps in the process.”
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