Author Topic: Cleveland: 515 Euclid Avenue  (Read 97312 times)

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Offline KJP

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Re: Cleveland: 515 Euclid Avenue
« Reply #315 on: November 18, 2011, 01:57:48 PM »

Better than the abandoned catagory.  However, I do not think it was ever officially proposed, so it could not be abandoned.  I was trying to recall that. 

True. Based on what may be happening with the residential tower atop the RTA transit center that's being proposed not by RTA but by DCA/HWHD (BTW: that little factoid is a VERY important distinction), I think there may still be something to this rumor about a tower built atop 515 Euclid. They may be sniffing around some financiers and that could have triggered the rumor. But one of the attractions of this property to Harbor Group International was the development air rights. And considering they got a $20 million, revenue-producing foundation for $8.15 million (http://www.crainscleveland.com/article/20111004/FREE/111009957), that discount makes any housing project more financially viable.
Neighborhoods weren't weakened by poor/minorities moving in, but by intolerant people moving out and taking their middle-class incomes and jobs with them.

Offline gotribe

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Re: Cleveland: 515 Euclid Avenue
« Reply #316 on: November 18, 2011, 02:34:23 PM »
^What is the first tower you mentioned above?  I know wrong thread, but a quick little sidenote never hurt anyone.   I may not aware of happenings with that.

Offline Firenze98

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Re: Cleveland: 515 Euclid Avenue
« Reply #317 on: November 21, 2011, 12:08:09 PM »
well then we will just have to agree to disagree, because I strongly disagree :)

framing views and architecture of the garfield building, euclid/colonial arcades, william and rogers building, and mccrory building or the arcade, is nothing short of spectacular. In most every real city in the world you visit residential properties have views out their windows framing buildings next to or across the street... with a handful of the higher floors which offer expansive top down views of the entire city (that people typically pay out the nose for). both are "city living". having a bunch of early 20th century beaux arts buildings outside your window is like getting the best art in the world for free.

Totally agree!  I lived in Florence Italy (note screen name) for 5 months.  I looked directly out across the street to a 16th century building and it was fantastic.  Now a view out to an alley way would be a different story.
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Offline KJP

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Re: Cleveland: 515 Euclid Avenue
« Reply #318 on: November 21, 2011, 12:47:29 PM »
^What is the first tower you mentioned above?  I know wrong thread, but a quick little sidenote never hurt anyone.   I may not aware of happenings with that.

http://www.urbanohio.com/forum2/index.php/topic,3323.msg587735.html#msg587735
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Offline MuRrAy HiLL

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Re: Cleveland: 515 Euclid Avenue
« Reply #319 on: April 17, 2012, 12:38:27 AM »
Nope. No tower.  But sandwiches!!!

Potbelly Sandwich Shop to set up shop in downtown Cleveland
By STAN BULLARD
2:00 pm, April 13, 2012

A Potbelly Sandwich Shop is bound for 515 Euclid Ave. in downtown Cleveland by early June as the Chicago-based, 200-store chain starts to chomp into the Northeast Ohio food market.

The chain, which offers handmade sandwiches and made-to-order salads, will employ about 25 people at its Cleveland store, said Potbelly spokeswoman Ann Aldrich. The company decorates its stores with local artifacts and offers live music at lunchtime to create a “hang out” atmosphere.

Potbelly will be part of the storefronts in a parking garage at East Sixth Street and Euclid, where it will be the first occupant in a corner location that has been empty since 2006, when construction of the garage was finished.

http://www.crainscleveland.com/article/20120413/FREE/120419910/0/FRONTPAGE
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Offline clvlndr

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Re: Cleveland: 515 Euclid Avenue
« Reply #320 on: April 17, 2012, 10:16:51 AM »
^Awesome;  I first noticed the sign on (on a glorious drive-thru downtown-- suprisingly lots of people out on a usu dead Sunday).  Yeah, I know some will balk b/c this is a mere sandwich shop and a nat'l chain, but I like Potbelly's food and it finally brings a lively storefront to 515 after, what, 6 years of existence?  This also extends the 4th Street engergy further up Euclid... All good imho.
« Last Edit: April 17, 2012, 10:18:15 AM by clvlndr »

Offline willyboy

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Re: Cleveland: 515 Euclid Avenue
« Reply #321 on: April 17, 2012, 11:29:10 AM »
clvlndr, we already got our griping out of the way weeks ago about this.....  But yeah even though it is a chain, it will be good to see that space active.  I think it is an important space to have activity in and has been empty way too long.   

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« Last Edit: April 17, 2012, 11:29:53 AM by willyboy »
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Online tedders55

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Re: Cleveland: 515 Euclid Avenue
« Reply #322 on: April 18, 2012, 02:54:29 PM »
Re: Potbelly.  Lots of drywall being delivered and hung.  Shouldn't be too long until they open.  I would guess end of May with they pace they are going. 

Offline anthony battaglia

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Re: Cleveland: 515 Euclid Avenue
« Reply #323 on: November 03, 2013, 12:03:13 AM »
this is only my second post, what is the status on the residential tower on top of the parking garage? the company that bought the parking garage 1 or 2 years ago have air rights to build the tower. will it ever happen?

Offline Punch

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Re: Cleveland: 515 Euclid Avenue
« Reply #324 on: November 03, 2013, 12:22:23 AM »
^economics of new construction don't work out right now, but they are getting better
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Offline KJP

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Re: Cleveland: 515 Euclid Avenue
« Reply #325 on: November 03, 2013, 12:28:31 PM »
^economics of new construction don't work out right now, but they are getting better

Yep. As soon as we run out of old, Class C office buildings to convert, you will see a rents rise faster and stronger demand for new construction. The inventory of Class C buildings ripe for conversion is getting pretty low, with planning coming together for the largest remaining structures. Once those are funded, converted and substantially leased in the next 3-5 years (barring no economic downfalls), you will see a push for new construction and 515 Euclid could be one of the first since it already has the infrastructure in place for it.
Neighborhoods weren't weakened by poor/minorities moving in, but by intolerant people moving out and taking their middle-class incomes and jobs with them.

Offline JG

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Re: Cleveland: 515 Euclid Avenue
« Reply #326 on: November 04, 2013, 12:58:21 PM »
^economics of new construction don't work out right now, but they are getting better

The inventory of Class C buildings ripe for conversion is getting pretty low, with planning coming together for the largest remaining structures.

Are you hinting at something that hasn't yet been announced??

Offline KJP

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Re: Cleveland: 515 Euclid Avenue
« Reply #327 on: November 04, 2013, 01:36:09 PM »
^economics of new construction don't work out right now, but they are getting better

The inventory of Class C buildings ripe for conversion is getting pretty low, with planning coming together for the largest remaining structures.

Are you hinting at something that hasn't yet been announced??

Nah. I'm referring to the Worthington Building, Cleveland Athletic Club and May Company building. I think those are the largest, vacant (or almost entirely vacant) structures both of which have plans for their conversion to housing/hotel. The old Huntington Building is probably considered a Class B office building and despite recent tenant losses is still half-full. I doubt there are any Class C office buildings left downtown that are larger than 100,000 square feet and more than 75 percent vacant. I'm pretty sure the Rockefeller Building, 75 Public Square, Standard Building, Leader Building, Ohio Bell Building, Rose Building, Halle Building, Hanna Building, Keith Building, Superior Building and City Club Building are at least 50 percent full too. Perhaps one or two of those may convert and consolidate office tenants into remaining Class C buildings. But if that's all it is, then it appears the supply of potential conversions is running low.
« Last Edit: November 04, 2013, 01:38:57 PM by KJP »
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Online Mendo

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Re: Cleveland: 515 Euclid Avenue
« Reply #328 on: November 04, 2013, 01:37:08 PM »
Are you hinting at something that hasn't yet been announced??

I don't think KJP is hinting at anything in particular. Nearly every medium to large class C structure is in some phase of redevelopment. The implication is that at some point, there will be nothing major left to convert, which would make new build more cost effective. The most recent large scale projects in the planning stages:

Worthington building in the Warehouse district:

http://www.crainscleveland.com/article/20131020/SUB1/310209974

May Company building in Gateway district:

http://www.crainscleveland.com/article/20130901/SUB1/309019968

edit: posted too late
« Last Edit: November 04, 2013, 01:38:00 PM by Mendo »

Offline anthony battaglia

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Re: Cleveland: 515 Euclid Avenue
« Reply #329 on: November 04, 2013, 04:41:57 PM »
there's also 1.3 million square feet of open space in the Huntington bank building that could be converted to apartments, hotels, and office space.

Offline KJP

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Re: Cleveland: 515 Euclid Avenue
« Reply #330 on: November 04, 2013, 05:00:10 PM »
there's also 1.3 million square feet of open space in the Huntington bank building that could be converted to apartments, hotels, and office space.

The building isn't empty. There's about 700,000 square feet of open space in the old Huntington Building. Worse, it's spread throughout the building which makes it difficult to convert a portion of the building to other uses. Unless Optima's management firm can get tenants to relocate to concentrate them on certain floors, a conversion of this building won't happen anytime soon.

So, to bring this back on topic, that's why new construction downtown -- such as 515 Euclid -- isn't likely to happen for a few more years. But at least the idea is getting warmer.
Neighborhoods weren't weakened by poor/minorities moving in, but by intolerant people moving out and taking their middle-class incomes and jobs with them.

Offline anthony battaglia

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Re: Cleveland: 515 Euclid Avenue
« Reply #331 on: January 19, 2014, 08:47:12 PM »
i have a few question about the tower. is it cancelled or still proposed? and i don't understand what this means, i red this desman.com who owns the garage. it said  "the urban site has dictated on architectural solutions conductive of a downtown office building. the structural framing system is cast-in-place concrete with a combination of glass and cast stone panels as the architectural facade material." also the company has air rights to the building, what exactly does that mean?
« Last Edit: January 19, 2014, 09:04:22 PM by anthony battaglia »

Online Mendo

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Re: Cleveland: 515 Euclid Avenue
« Reply #332 on: January 19, 2014, 09:28:45 PM »
Desman was just the architect and engineer for the garage. Harbor Group bought it from AmTrust after they went bankrupt a couple years ago.

At the time Harbor said they had no plans to develop the condos themselves but would sell the air rights to anybody interested.

Offline w28th

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Re: Cleveland: 515 Euclid Avenue
« Reply #333 on: January 21, 2014, 12:51:43 AM »
Fleischman was the architect.
"When you stand at the corner of Euclid Avenue and East Ninth Street in Cleveland, you stand at one of the busiest corners in the world -- and in the heart of a shopping district known far and wide for its many fine shops."

Online SixthCity

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Re: Cleveland: 515 Euclid Avenue
« Reply #334 on: March 20, 2015, 03:08:45 PM »
Back from the dead!
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Offline Foraker

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Re: Cleveland: 515 Euclid Avenue
« Reply #335 on: March 24, 2015, 02:04:35 PM »
i have a few question about the tower. is it cancelled or still proposed? and i don't understand what this means, i red this desman.com who owns the garage. it said  "the urban site has dictated on architectural solutions conductive of a downtown office building. the structural framing system is cast-in-place concrete with a combination of glass and cast stone panels as the architectural facade material." also the company has air rights to the building, what exactly does that mean?

It means the building was designed so that a tower could be built on top of the garage.  Air rights means that they have the right to build higher than it currently is.  Unfortunately, until there is a financial incentive to build the taller tower, it won't happen.

Offline KJP

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Re: Cleveland: 515 Euclid Avenue
« Reply #336 on: March 24, 2015, 02:34:09 PM »
It means the building was designed so that a tower could be built on top of the garage.  Air rights means that they have the right to build higher than it currently is.  Unfortunately, until there is a financial incentive to build the taller tower, it won't happen.

You mean, like having rents high enough to justify building the tower?

If so, I think we're there -- at least for building a tower that doesn't require city approvals other than a building permit, demolishing anything, digging holes in the ground,  pouring a foundation and pad, constructing elevator towers and subsurface foundations, relocating and/or constructing utilities, constructing a parking structure, etc.

This tower doesn't require all of the usual expenses of building one. For that reason, I can see Stark moving forward with this very soon. And as was stated by others over in the nuCLEus thread, if this building fills up quickly, it will only bolster his case for nuCLEus -- both in terms of the residential component AND the retail component, since there will be more retail customers for nuCLEus at the other end of East 4th.
Neighborhoods weren't weakened by poor/minorities moving in, but by intolerant people moving out and taking their middle-class incomes and jobs with them.

Offline Foraker

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Re: Cleveland: 515 Euclid Avenue
« Reply #337 on: March 25, 2015, 02:34:00 PM »
You mean, like having rents high enough to justify building the tower?

If so, I think we're there . . . . This tower doesn't require all of the usual expenses of building one. For that reason, I can see Stark moving forward with this very soon. And as was stated by others over in the nuCLEus thread, if this building fills up quickly, it will only bolster his case for nuCLEus -- both in terms of the residential component AND the retail component, since there will be more retail customers for nuCLEus at the other end of East 4th.

Oh, I hope you're right!!! :clap:

Offline Cleburger

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Re: Cleveland: 515 Euclid Avenue
« Reply #338 on: March 25, 2015, 05:34:39 PM »

You mean, like having rents high enough to justify building the tower?

If so, I think we're there -- at least for building a tower that doesn't require city approvals other than a building permit, demolishing anything, digging holes in the ground,  pouring a foundation and pad, constructing elevator towers and subsurface foundations, relocating and/or constructing utilities, constructing a parking structure, etc.

This tower doesn't require all of the usual expenses of building one. For that reason, I can see Stark moving forward with this very soon. And as was stated by others over in the nuCLEus thread, if this building fills up quickly, it will only bolster his case for nuCLEus -- both in terms of the residential component AND the retail component, since there will be more retail customers for nuCLEus at the other end of East 4th.

Just think, the country could have hit a home run adding 15 stories on the new Hilton.   Hmmmm....  :roll:
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Offline KJP

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Re: Cleveland: 515 Euclid Avenue
« Reply #339 on: March 26, 2015, 06:10:21 PM »
Just think, the country could have hit a home run adding 15 stories on the new Hilton.   Hmmmm....  :roll:

Why would they add 15 more stories on the convention hotel? For what purpose? The county had a narrow scope for this project: to construct a building for a single end user to support the county's investment in the convention center.
Neighborhoods weren't weakened by poor/minorities moving in, but by intolerant people moving out and taking their middle-class incomes and jobs with them.

Offline Cleburger

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Re: Cleveland: 515 Euclid Avenue
« Reply #340 on: March 26, 2015, 09:34:01 PM »
Just think, the country could have hit a home run adding 15 stories on the new Hilton.   Hmmmm....  :roll:

Why would they add 15 more stories on the convention hotel? For what purpose? The county had a narrow scope for this project: to construct a building for a single end user to support the county's investment in the convention center.

I agree the county had a narrow scope and focus, but missed an opportunity for new construction residential.   But here was an opportunity for an ideal "public/private" partnership.   The majority of design and structural costs were paid for via the hotel financing, which could have compensated for the low pricing per SF in the Cleveland market.   An element of this could have been long-term corporate housing to compliment the hotel offering and give the convention center/medmart yet another angle to compete. 



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Offline KJP

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Re: Cleveland: 515 Euclid Avenue
« Reply #341 on: July 01, 2015, 10:24:08 AM »
How long has Welty Building Co. had an office at 515 Euclid? I just noticed it....

http://www.superpages.com/bp/Cleveland-OH/Welty-Cleveland-Group-L2346418044.htm

Welty is a major construction firm. Their resume of projects is impressive:

http://thinkwelty.com/our-work/?cat=specialty
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Online Klingaling87

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Re: Cleveland: 515 Euclid Avenue
« Reply #342 on: July 01, 2015, 11:01:41 AM »
Their office has been there for a couple of years. I've heard that they are moving down to the flats, though.

Offline gotribe

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Re: Cleveland: 515 Euclid Avenue
« Reply #343 on: July 01, 2015, 11:02:07 AM »
Not sure, but I think I recall seeing their Think Welty sign in the window.  Huge Akron firm, that's for sure.  Not real prevalent in Cleveland other than at Metrohealth up until about 7 or 8 years ago when corruption issues hit there. Maybe it was just a way to get their address here. 

Offline freethink

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Re: Cleveland: 515 Euclid Avenue
« Reply #344 on: July 01, 2015, 11:10:37 AM »
Welty is doing Toby Keith's/FEB .
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