Monday, March 20, 2017 – Today our team met with Joe Marinucci, the President of the Downtown Cleveland Alliance, the non-profit which represents the interests of downtown residents, businesses, and property owners and also acts as a liaison to City Hall and the local police force. Downtown Cleveland is one of the fastest growing neighborhoods, and Joe was able to share a great deal of valuable information that our staff will be able to pass along to those we are helping to relocate to our region.
For the sixth straight year, occupancy in downtown residential buildings exceeded 95%. There are more than 1,000 new units coming on-line in the next year or so, potentially adding up to 1,500 new residents in downtown (currently just shy of 16,000). DCA maintains a list of all downtown residential buildings that is very useful. Interestingly, there are 1,000 kids below the age of 14 living in downtown Cleveland, using a mix of public, charter, private, and parochial schools.
Ease of connectivity is an initiative that is helping to ensure that everyone on foot sees visual clues for how to move from one neighborhood to another (theater district to warehouse district to The Flats to Public Square, etc.).
Amenities are pretty robust for the size of the residential population. Heinen’s Grocery Store offers a full-service market including fresh produce, meats, and seafood along with prepared foods. In addition to the half dozen gyms, many residential buildings feature their own work out facilities. 157 planters line the sidewalks and add color and flair nine months out of the year (spring flowers are about to be planted). The Clean & Safe Ambassadors keep the streets power washed and free of trash, maintain the trees and flowers, and respond to phone calls within 10 minutes to provide safety escorts within downtown.
Downtown Cleveland is unique compared to other cities because, within a 15-block radius, you can walk to every major league sports facility, the performing arts center, a casino and two comedy clubs, a half dozen live music venues, restaurant districts and nightlife, the Amtrak and Greyhound stations, the RTA light rail train serving eastern suburbs, the airport, and the Cuyahoga River and Lake Erie.
New buildings include:
The Standard Building: Opening in fall of 2017, this 1920’s classic building is being rehabbed from office use to high end residential and adding almost 200 apartments in its 21 floors.
Residences at The Leader: Long known as a hub for law offices in Cleveland, this 16-story building, located on the corner of E. 4th & Superior, is being converted to apartments.
Garfield Building: Located on E. 6th Street & Euclid, the building will include 125 apartments (formerly housed much of National City Bank’s staff).
The Edge: A building aimed at Cleveland State University students, which is located on the corner of E. 18th & Euclid.
Residential buildings on the books, but with no construction date/opening date set yet:
The Beacon: A 17- story structure to be built on the roof of the parking garage on Euclid at E. 5th Street.
The Renovation of the Halle Building
nuCLEus: Brand new construction near Quicken Loans Arena that we lovingly call ‘The Jenga Tower’ due to its design.
There will also be upcoming apartments in the 925 Euclid building, the May Company Building, and Terminal Tower, as well as, the to-be-built Westin in the Warehouse District.
Since 1979 Executive Arrangements has helped organizations in Cleveland and Akron to attract and retain the best possible talent by carefully matching the quality of life in NE Ohio to the candidate’s interests. If you think our deep dives into what makes our region an affordable and easy lifestyle could help your recruiting strategy, call us. 216.231.9311.
