Author Topic: Cleveland: Warehouse District: Development and News  (Read 344264 times)

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Offline Urbanophile

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Re: Cleveland: Warehouse District: Development and News
« Reply #1260 on: January 13, 2017, 01:43:08 AM »
^ Stark owns all of that? Is it possible he's selling it to raise equity for Nucleus?

Offline KJP

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Re: Cleveland: Warehouse District: Development and News
« Reply #1261 on: January 13, 2017, 10:35:50 AM »
He doesn't own the Hilliard Building at the corner of Frankfort and West 9th, but he owns the rest of the shaded parcels (article is from 2014):

CLEVELAND, Ohio -- Northeast Ohio investors paid $26 million this week for a downtown Cleveland parking portfolio, laying groundwork for a major development project in the city's Gateway District.

Stark Enterprises and J-Dek Investments Ltd. bought five properties Thursday from the L&R Group of Companies of California, public records show. In separate transactions, the investors paid other landowners an additional $2.75 million for two small parcels that round out a development site just north of Quicken Loans Arena.

The L&R portfolio included:
A large parking lot on West Ninth Street in the Warehouse District. Stark and J-Dek have no immediate plans for that property.
http://www.cleveland.com/business/index.ssf/2014/09/downtown_cleveland_parking_por.html
« Last Edit: January 27, 2017, 02:41:18 AM by KJP »
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Offline KJP

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Re: Cleveland: Warehouse District: Development and News
« Reply #1262 on: January 27, 2017, 02:40:00 AM »
http://planning.city.cleveland.oh.us/landmark/agenda/2017/01262017/index.php

Agenda for January 26, 2017
1.
Case 17-006
Warehouse Historic District
Bloch Building 1273 West 9th Street
Renovation for Lofts of West 9
Ward 3
McCormack
Michael Wellman
Meld Architects
STREAK Investments

« Last Edit: January 27, 2017, 02:45:02 AM by KJP »
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Offline viscomi

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Re: Cleveland: Warehouse District: Development and News
« Reply #1263 on: February 02, 2017, 09:30:59 AM »
I don't remember seeing these posted here yet. They are Worthington Yards courtyard and Johnson Ct elevation

http://www.kainc.com/content/portfolio/aerial-view4.jpg
http://www.kainc.com/content/portfolio/elevation.jpg

« Last Edit: February 02, 2017, 09:33:48 AM by viscomi »

Online simplythis

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Re: Cleveland: Warehouse District: Development and News
« Reply #1264 on: February 02, 2017, 11:32:08 AM »
This project was lingering around for years. I am so glad it is finally started. There is hope for the other projects
that have been working on financing for years.

Offline willyboy

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Re: Cleveland: Warehouse District: Development and News
« Reply #1265 on: February 03, 2017, 03:39:02 PM »
Solon-based developer buys Warehouse District building

A Solon-based real estate owner heads an investor group that just acquired the 1860-vintage Bloch Block Building in the Warehouse District for $850,000 and plans to converted its upper floors to luxury apartments.
http://www.crainscleveland.com/article/20170203/NEWS/170209912/solon-based-developer-buys-warehouse-district-building
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Offline CleveFan

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Re: Cleveland: Warehouse District: Development and News
« Reply #1266 on: April 13, 2017, 10:33:27 AM »
Like "Htsguy" (a day or two ago in the thread for Jacobs public square lot)
I was taken aback by KJP' s word "stalled" referring to the Weston superblock
Project - though I hadn't seen any groundbreaking news, KJP's comment
That the public square lot might be developed before the Weston project was very surprising -
Last things I had seen in the forum late last fall Weston was buying up any remaining parcels
Of land for the Superblock - so now I'm wondering what (if anything) may have happened - are there significant
Problems with the project?  Or is it still moving forward albeit behind an originally overly optimistic
Timeline? 

Offline KJP

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Re: Cleveland: Warehouse District: Development and News
« Reply #1267 on: April 13, 2017, 11:01:55 AM »
No, just scuttlebut I've heard that Weston is pre-occupied with the Standard Building conversion right now.
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Offline clvlndr

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Re: Cleveland: Warehouse District: Development and News
« Reply #1268 on: April 13, 2017, 12:06:57 PM »
^I wouldn't be surprised.  A project of this scale would be challenging for all but a few American cites -- NYC, Chicago, maybe -- but especially for a medium-sized, Rust Belt major city like Cleveland.  Not to sound like I'm standing pat, but given our local profile as still declining (but with things slowly turning around) city, I've been amazed at the number and scale of projects Cleveland has been pulling off in the last decade up to this minute -- everything from FEB, to the Hilton (though taxpayer financed, I know ...), to One Univ. Circle, to Beacon and Uptown and, now, Centric (and this isn't exhaustive).  And let's not even talk about the stunning adaptive reuse projects like The 9 and Heinen's and 668 ... to name a few.  And most of these have been one-building-at-a-time developments; even FEB which did package E&Y and Aloft -- Phase 2 was a whole new financing package though coordinated.

I do think Weston will happen in some form.  But just like FEB and probably nuCLEus, it may take a while.

Offline Dougal

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Re: Cleveland: Warehouse District: Development and News
« Reply #1269 on: April 13, 2017, 01:09:56 PM »
No, just scuttlebut I've heard that Weston is pre-occupied with the Standard Building conversion right now.

If that is the reason, it might actually be good news. In my town there is talk of an apartment glut which is slowing down the more timid developers. While I don't think that's true in Cleveland, just the talk of a glut probably makes financing harder.

Offline ragarcia

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Re: Cleveland: Warehouse District: Development and News
« Reply #1270 on: April 24, 2017, 10:02:35 PM »
"In the latest sighting of real estate developer Fred Geis, he may play a part in helping even higher-profile developer John Ferchill resolve a foreclosure proceeding over the Western Reserve Building.

---....

Attorney Jon Pinney, who represents Ferchill, confirmed in a phone interview that Ferchill's Reserve Building Associates is negotiating a potential settlement with its lender that involves Geis.

In fact, Pinney said resolving the dispute rests on if Geis invests in the property to satisfy the lender.

http://www.crainscleveland.com/article/20170424/NEWS/170429915/western-reserves-future-may-include-fred-geis?utm_campaign=socialflow&utm_source=facebook&utm_medium=social

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Re: Cleveland: Warehouse District: Development and News
« Reply #1271 on: May 05, 2017, 11:37:08 PM »
Heck yeah, Phoenix Coffee coming back to the WD.

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Offline jmc8651

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Re: Cleveland: Warehouse District: Development and News
« Reply #1272 on: May 06, 2017, 07:00:59 AM »
Where exactly is the new location?

Online PoshSteve

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Re: Cleveland: Warehouse District: Development and News
« Reply #1273 on: May 06, 2017, 10:36:19 AM »
Based on their pic, it'll be in the space next to Jimmy John's on St. Clair

Offline clvlndr

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Re: Cleveland: Warehouse District: Development and News
« Reply #1274 on: May 06, 2017, 01:48:41 PM »
^Correct.

Offline KJP

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Re: Cleveland: Warehouse District: Development and News
« Reply #1275 on: May 16, 2017, 04:40:28 PM »
Weston... doing stuff. Interestingly this is not the Parcel A of the development that Weston said they would pursue first. Parcel A is on the SE corner of West 6th and St. Clair. Broom Court is a paper street that would become part of Parcel B...

City Planning Commission
Agenda for March 4, 2016

ADMINISTRATIVE APPROVALS
Resolution No. 158-16(Ward 3/Councilperson Cimperman): Declaring the intent to vacate a portion of Broome Court N.W.



For some reason, this is back on the Planning Commission docket. Wasn't this done 14 months ago?

http://planning.city.cleveland.oh.us/designreview/drcagenda/2017/05192017/index.php

Agenda for May 19, 2017

ADMINISTRATIVE APPROVALS

Ordinance No. 502-17(Ward 3/Councilmember McCormack): To vacate a portion of Broome Court  N.W.
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Online freethink

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Re: Cleveland: Warehouse District: Development and News
« Reply #1276 on: May 17, 2017, 01:26:06 PM »
So the parking lot that KJP referenced above that Stark Ent. has up for sale has a bunch of building permits listed for it, the valuation is only 90k and described as an alteration. So I am thinking it's probably just improvements to the parking lot for a possible sale. It could also mean he's has a buyer and these improvement are apart of the deal. Let's see what happens with this.
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Online simplythis

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Re: Cleveland: Warehouse District: Development and News
« Reply #1277 on: May 17, 2017, 01:38:45 PM »
If he has a buyer hopefully it is Weston. He then controls the whole block.

Online simplythis

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Re: Cleveland: Warehouse District: Development and News
« Reply #1278 on: June 17, 2017, 12:40:18 AM »
Awesome pictures. Now that construction is well underway at Worthington Yards,
shouldn't it get it's own thread?

Offline mrclifton88

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Re: Cleveland: Warehouse District: Development and News
« Reply #1279 on: June 28, 2017, 10:18:01 AM »
From this article:
http://realestate.cleveland.com/realestate-news/2017/06/akrons_bowery_project_former_n.html#incart_river_home

Not a lot of winners in Cleveland, BUT I don't remember hearing about this one at all!  Sounds like a parking gap will be filled!   :clap:

"Liberty Textile: This Warehouse District building, at 1277 W. 6th St. in downtown Cleveland, will be married with new construction on the parking lot next door. Together, the buildings will hold 80 apartments, with storefronts lining West Sixth and indoor parking behind and beneath. The four-story Liberty Textile Building, owned by James Kassouf, was constructed in 1873. The $25 million redevelopment won nearly $2 million in state credits.

The project will fill a gap along West Sixth and complete a cycle of renovation projects that started in the mid-1980s, said Tom Yablonsky, executive director of the nonprofit Historic Warehouse District Development Corp. "This is one of the great remaining buildings," he said. "There have been proposals over the years, but none of them ever came to fruition. Jimmy always had a grand idea for the building. ... His grand idea finally met reality."

« Last Edit: June 28, 2017, 10:22:17 AM by mrclifton88 »

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Re: Cleveland: Warehouse District: Development and News
« Reply #1280 on: June 28, 2017, 10:32:35 AM »
That's great news!  Hope they replace the missing cornice during the renovation.

Offline jmicha

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Re: Cleveland: Warehouse District: Development and News
« Reply #1281 on: June 28, 2017, 10:37:16 AM »
^I'd imagine they will. I love hearing about gaps being filled in. As much as the amount of demolition our cities saw is terrible the silver lining is that it offers opportunities for new infill to infuse new life into vacant spots to provide a mix of architectural eras which is something most successful urban neighborhoods have. I'm excited to see what this looks like.

Offline KJP

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Re: Cleveland: Warehouse District: Development and News
« Reply #1282 on: June 28, 2017, 10:44:44 AM »
Kassouf is one of those guys who talks big and tries small. He's better at sitting on properties, letting them fall apart, or get code violations that force him to the least amount of work necessary to get the city off his back. The Liberty Textile building was the lone eyesore remaining on West 6th after just about everything else had been refurbished. So he finally did a cosmetic facade improvement. If he actually goes through with this project, I'll be very surprised.
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Online surfohio

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Re: Cleveland: Warehouse District: Development and News
« Reply #1283 on: June 28, 2017, 10:45:08 AM »
^I'd imagine they will. I love hearing about gaps being filled in. As much as the amount of demolition our cities saw is terrible the silver lining is that it offers opportunities for new infill to infuse new life into vacant spots to provide a mix of architectural eras which is something most successful urban neighborhoods have. I'm excited to see what this looks like.

I wonder how this infill will compare and relate, style-wise, to what we've been seeing in OTR.

Online down4cle

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Re: Cleveland: Warehouse District: Development and News
« Reply #1284 on: June 28, 2017, 10:47:21 AM »
Kassouf is one of those guys who talks big and tries small. He's better at sitting on properties, letting them fall apart, or get code violations that force him to the least amount of work necessary to get the city off his back. The Liberty Textile building was the lone eyesore remaining on West 6th after just about everything else had been refurbished. So he finally did a cosmetic facade improvement. If he actually goes through with this project, I'll be very surprised.

Agree.  I've met him a few times and my impression is that he just looks for ways to get some free money but doesn't want to do any actual development.

Offline clvlndr

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Re: Cleveland: Warehouse District: Development and News
« Reply #1285 on: June 28, 2017, 10:48:52 AM »
So there's no concept drawing for the new infill building as yet?

Online Htsguy

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Re: Cleveland: Warehouse District: Development and News
« Reply #1286 on: June 28, 2017, 11:18:53 AM »
Kassouf is one of those guys who talks big and tries small. He's better at sitting on properties, letting them fall apart, or get code violations that force him to the least amount of work necessary to get the city off his back. The Liberty Textile building was the lone eyesore remaining on West 6th after just about everything else had been refurbished. So he finally did a cosmetic facade improvement. If he actually goes through with this project, I'll be very surprised.

Agree.  I've met him a few times and my impression is that he just looks for ways to get some free money but doesn't want to do any actual development.

Agree.  Just a player and has no real interest in development.  Buys property for parking and leverage.  Even worse is that he is an obstructionist who adversely impacts others who are actually trying to get stuff done.  Remember all the S**t he pulled in connection with Wolstein's Flat's project?

I would be very surprised if this actually get built.

By the way, that infill building next to the Liberty Building was constructed with the idea that the elevator (which services building to the left in the picture but not shown) in the new construction could service the Liberty Building, but nothing has happen in over 20 years since it was first built.  That infill building shown is just OK.  Not a quality job in terms of materials.

Online freethink

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Re: Cleveland: Warehouse District: Development and News
« Reply #1287 on: June 28, 2017, 01:03:00 PM »
Wow, Jimmy Kassouf is actually going to build something?  ...OK
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Offline mrclifton88

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Re: Cleveland: Warehouse District: Development and News
« Reply #1288 on: June 28, 2017, 02:17:03 PM »
Too bad this is the case, hopefully though there is pressure to make something real happen here.  There is so much opportunity for infill in the WHD on a small scale, not just the huge Weston development.

Offline ethlaw

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Re: Cleveland: Warehouse District: Development and News
« Reply #1289 on: June 28, 2017, 02:22:55 PM »
There's probably an obvious answer here as I am no expert on the program, but why would he apply for the historic tax credits if he didn't plan on using it?

Online Htsguy

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Re: Cleveland: Warehouse District: Development and News
« Reply #1290 on: June 28, 2017, 03:06:33 PM »
^Ask the owners of the John Hartness Brown Buildings.

Offline jmc8651

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Re: Cleveland: Warehouse District: Development and News
« Reply #1291 on: June 28, 2017, 03:31:16 PM »
I believe the credits can be transferred. Maybe his goal is to sell the building along with the credits. Considering how competitive the program is it would be appealing to buy a property with the credits lined up.


Offline willyboy

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Re: Cleveland: Warehouse District: Development and News
« Reply #1292 on: June 28, 2017, 03:50:29 PM »
I believe the credits can be transferred. Maybe his goal is to sell the building along with the credits. Considering how competitive the program is it would be appealing to buy a property with the credits lined up.


Exactly.   It can be looked at as adding value, in order to sell at a premium.     
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Offline ethlaw

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Re: Cleveland: Warehouse District: Development and News
« Reply #1293 on: June 28, 2017, 04:12:16 PM »
Okay that does make sense. Hopefully he sells to someone who is actually likely to go through with such a development.

Online simplythis

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Re: Cleveland: Warehouse District: Development and News
« Reply #1294 on: June 28, 2017, 06:30:29 PM »
80 Apartments. How tall mof a building would that be?

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