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« on: November 02, 2009, 02:53:31 PM » |
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Someone has removed the netting over the cornice at 1030 Euclid and a crew appears to be inspecting or surveying the facade. Anyone know what is going on there?
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McCleveland
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« Reply #1 on: November 02, 2009, 03:02:56 PM » |
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Owned by the same guy as the schofield building and slated to be renovated at the same time (along with the security federal building next door). Assuming the tax credits get approved (all have been applied for), I hear financing is looking good on all of them.
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MyTwoSense
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« Reply #2 on: November 02, 2009, 03:03:44 PM » |
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Owned by the same guy as the schofield building and slated to be renovated at the same time (along with the security federal building next door). Assuming the tax credits get approved (all have been applied for), I hear financing is looking good on all of them.
yeah!! 
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« Reply #3 on: November 02, 2009, 03:52:45 PM » |
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That's great news! I was really worried about that building's future.
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FrqntFlyr
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« Reply #5 on: November 02, 2009, 04:28:09 PM » |
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These two buildings: http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=1010+euclid+ave,+cleveland,+oh&sll=37.0625,-95.677068&sspn=35.219929,78.837891&ie=UTF8&hq=&hnear=1010+Euclid+Ave,+Cleveland,+Cuyahoga,+Ohio+44115&ll=41.500506,-81.685249&spn=0,359.980752&t=h&z=16&iwloc=A&layer=c&cbll=41.500489,-81.685372&panoid=I-AKlzHI0FrMDUgLV1xuzA&cbp=12,173.75,,0,-14.84
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Hts44121
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« Reply #6 on: November 02, 2009, 04:46:47 PM » |
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Didn't we used to have a thread going for the two or three buildings accross the street from 1030 (I am assuming that 1030 is on the south side of Euclid)? I remember seeing pictures of the facades being removed but we have not discussed them much since then. What is the status of that renovation?
Also, with 1030, does anybody know what use is intended following the renovation?
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MyTwoSense
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« Reply #7 on: November 02, 2009, 05:04:24 PM » |
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Didn't we used to have a thread going for the two or three buildings accross the street from 1030 (I am assuming that 1030 is on the south side of Euclid)? I remember seeing pictures of the facades being removed but we have not discussed them much since then. What is the status of that renovation?
Also, with 1030, does anybody know what use is intended following the renovation?
yeah, it's probably being cleaned
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McCleveland
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« Reply #8 on: November 02, 2009, 05:10:41 PM » |
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1030 (The Truman Building) is being looked at as a residential conversion. The security federal building (1110 Euclid, the 3 story building just east) is being renovated as offices, some of which are already occupied, and the dentist office that was in the schofield building is being relocated there as well... and the schofield building to be a botique hotel and residences. I believe there is a Crain's article posted in the Schofield thread that provides some more detail. I know the latest figures have the total of the 3 projects at around a $47m investment, and work is to be done on all 3 buildings at once. I heard recently that provided they recieve the tax credits (and I believe word is due back on this round in January), they should be able to obtain their bridge loans for that portion of the financing and move forward... Not to temper any enthusiasm as everything I've heard on this is positive. But the reason I didn't post about that before is because sometime around June of 2008 everything changed. I've heard many projects that were "fully financed" and then... they weren't. With developers having to go to so many different lending institutions they might be fully financed one day... and then for some reason one portion pulls out, which may make another piece reconsider, etc. That's not to be negative, just the reality of the environment right now. Things are very fluid and can change almost daily.
The project you are refering to Hts is the John Hartness Brown Buildings. Still very much alive, but currently seeking more financing. Again, that was a project that was "fully financed" until it wasn't.
Though like I said, most people I've heard from are pretty convinced these 3 buildings are going to get done in the pretty near future.
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Etheostoma Caeruleum
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« Reply #9 on: November 02, 2009, 06:26:06 PM » |
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These two buildings:
http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=1010+euclid+ave,+cleveland,+oh&sll=37.0625,-95.677068&sspn=35.219929,78.837891&ie=UTF8&hq=&hnear=1010+Euclid+Ave,+Cleveland,+Cuyahoga,+Ohio+44115&ll=41.500506,-81.685249&spn=0,359.980752&t=h&z=16&iwloc=A&layer=c&cbll=41.500489,-81.685372&panoid=I-AKlzHI0FrMDUgLV1xuzA&cbp=12,173.75,,0,-14.84
That's good news... Both really nice buildings that currently look like crap. Is there a projected time line for the project? How long will it be before they are ready to be occupied?
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McCleveland
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« Reply #10 on: November 02, 2009, 07:32:24 PM » |
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There is no solid timeline at this point... Like I said first step is finding out about the tax credits and going from there...
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McCleveland
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« Reply #11 on: November 04, 2009, 02:49:31 PM » |
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I figure there should be enough photo ops of this (particuarly of the Truman Building) to give it it's own thread...
Here is the article from Crain's that discusses some of what is happening here along with the Schofield Building: Investors plan Schofield building rehab$52M downtown project, which includes offices and a hotel, hinges on securing historic tax credits By STAN BULLARD June 8, 2009 Despite the crippling credit crunch and recession, an effort is under way to restore the 14-story Schofield Building, at the southwest corner of Euclid Avenue and East Ninth Street in downtown Cleveland, and two nearby structures as a hotel, apartments and offices. All told, redeveloping the three buildings carries an estimated $52 million price tag. An investor group hopes to transform the nearly empty Schofield Building, at 2000 East Ninth, to a 140-room boutique hotel and 30 apartments. Across East Ninth Street, it also wants to turn the mothballed, six-story Truman Building at 1030 Euclid into 20 apartments, and to update the empty offices in the Security Federal Building, 1110 Euclid... more at: http://www.crainscleveland.com/apps/pbcs.dll/article?AID=/20090608/SUB1/306089984
And here are a couple pictures I snapped of them examing the cornice on Truman Building today. Beautiful, not sure I've ever seen it with the netting off:
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Oldmanladyluck
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« Reply #12 on: November 04, 2009, 02:58:42 PM » |
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Excellent! I guess we can say that the energy from lower Euclid has finally jumped over E. 9th. I was wondering when these would be looked at for redevelopment.
Thanks for the updates.
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brtshrcegr
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« Reply #13 on: November 04, 2009, 07:54:38 PM » |
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You know what would make that terracotta cornice look even better? ....some white sealant! 
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