City of Cleveland Leadership Conference

www.RethinkCleveland.org | 216.664.2406
RETHINK CLEVELAND
Economic Development: Recent Wins & the Road Ahead
Cleveland Leadership Center:
"We are Cleveland: Leading
for Change

Recent Wins- Apartments
Project Total Units Est. Residents
Total Existing Apartments & Condos 7,409 14,000
Apartment Projects (Under Construction)
Leader Building 230 345
Garfield Building 160 240
Standard Building 287 430
CSU West Residential (JCF Bldg) 217 509
75 Public Square 90 135
Upcoming Apartment Projects (Proposed)
925 Euclid 550 825
May Company 353 530
Worthington Building (Johnson Ct) 86 129
515 Building 200 300
Weston Citimark Project (Phase I) 352 528
Northcoast Harbor 1000 1500
Halle Building 240 360
nuCLEus Project 500 750
Cleveland Athletic Club 177 266
Grand Total 11,851 20,847

Recent Wins- Hotels
Hotel Name # of Rooms
12 Existing Downtown Hotels 2,593
The Westin Cleveland Downtown 484
Aloft Cleveland Downtown 150
Metropolitan Hotel at The 9 140
Hilton Cleveland Downtown 600
Kimpton Schofield 122
Drury Plaza 189
Total Hotel Rooms Downtown 4,678
3 Existing University Circle Hotels 611
Holiday Inn 276
Marriott Courtyard 153
Total Hotel Rooms University Circle 1,040
Total Airport Area Hotel Rooms 1,679
Total Downtown, UC & Airport Hotel Rooms in Cleveland 7,397

Recent Wins- Offices Current Jobs Total Project Cost
Ernst & Young 1119 $134,691,147
Human Arc 326 $30,000
Rosetta 282 $3,400,000
AmTrust 1,083 $24,486,533
Dwellworks 91 $227,550
Cleveland Research Company 75 $1,200,000
GMAC 511 $500,000
BrandMuscle 203 $630,000
Dakota Software 49 $114,000
Hartland 66 $450,000
Inforce Technologies 17 $60,000
Spero Smith 15 $29,000
Dealer Tire 450 32,800,000
IBM Explorys 170 $11,100,000
4,457 $209,718,230

Industry Clusters for Cleveland
• Mohr Partners- Cluster Analysis
– Suppliers, Workforce, Sales & Distribution
• Industry Clusters
ØAutomotive Manufacturing
ØBanking & Finance
ØElectric & Lighting
ØFood Processing
ØHealth Technology
Ø Information Technology
Ø Management
Companies/Enterprises
Ø Oil & Gas
Ø Paints and Coatings

Local Economic Trends
• Positive Real Estate Trends
– Demand for Residential Rental Remains Strong
– Vacancy Rates for Office lower with conversion of Class
B & C and urban movement following millennial
workforce
– New Class A seeing positive occupancy
– Transit Access Increasingly more Important
– “Hot” Markets seeing Investment
– Rental Rates are moving up
– Cleveland as a Tourist Destination

The Road Ahead
• Larger developments still need incentives
• Cost of construction the same of higher than
Chicago, but rents far lower
• Workforce shortages in some key areas-
Software dev., CNC, welding, truck driver-
threaten growing businesses
• Persistent poverty needs to be addressed-
economic inclusion makes our region stronger

Development Areas in Cleveland
• Attracting Developers Locally & From Out of
Town
– Health Tech Corridor
– Ohio City
– Downtown
– University Circle
– Gordon Square

Health Tech Corridor: Completed Projects
Long Term Anchor Strategy
• New Construction & Renovation
• 400,000 sf complete; 99% leased

Health Tech Corridor: Development Sites
• Long Term Brownfield Clean-up Strategy
• 11 Acres just sold for a University Hospital Women &
Children’s Clinic and to Hemmingway Development for a
Med Tech Campus
• 2.5 acres being sold for hotel development
• Available sites being assessed for brownfield clean-up

Ohio City: Development Map Hingetown
Public
Infrastructure
Lorain Ave &
45th Area
Ohio City
25th St Area

Detroit Shoreway
City
Infrastructure-
Parking,
Streetscape,
Connectors,
Shoreway
City Econ. Dev.
Funded
Projects

Downtown Business District: Recent/Upcoming
Developments
Drury Hotel Source: cleveland.com
Public Square renovation rendering Source: cleveland.com
The 9 Source: cleveland.com
Heinen’s Source: cleveland.com
Hanna Annex: Residential
Scofield Building: Apartments and Kimpton Hotel
source: Cleveland.com

Lakefront Development Plan
• 1,000 residential apartments
• 80,000 square feet of
commercial office space
• 50,000 square feet of retail
and restaurant space
• 21 acres of lakefront
property

Flats
Phase I:
• 500,000 sf Office (Anchor: Ernst & Young Hdqtrs)
• 55,000 sf Retail
• 150 Room Aloft Hotel
• Opened May 2013
• New Infrastructure: Sewers, Pump Station,
Electric
Phase II:
• 243 Units of
Housing
• 1200 ft Boardwalk
• Retail &
Entertainment
Venues

NuCLEus
nuCLEus rendering Source: cleveland.com
• Stark Enterprises
• 500 Residential Units
• Two new parking garages-
1,600 spaces
• 130,000 square feet of retail
• 200,000 square feet of new
office
• “Bridge” will be a new hotel
space

University Circle: Current Developments
• UC-3: Former Third District Police Dept,
Moving the MLK Library, east side of Stokes:
10600 Chester Ave (Midwest Partners)
– 1.6 acre site
– Apartments, Retail, Parking
– New MLK Library
– Makes the neighborhood walkable
• Centric (Midwest Partners):
– 2.2 acre site
– Mixed use with apartments, office, retail
space, and parking
– Phase I: Apartments
• Innova (Finch Group)
– 177 Apartments
– Ground Level Retail
• One University Circle: (First Interstate)
– 14+ story luxury apartment building
UC-3 rendering
Innova rendering

Important Initiatives:
Nine Twelve District
• In 2010- Highest Level of
Blight per State
Standards
• Stakeholders Came
Together
• Lack of Parking & Green
Space
• New Parks, Free Trolley
Service to Parking
• Over $500 million in
New Investment

For more Information:
Tracey Nichols
Director
Economic Development
(216)664-3611
tnichols2@city.cleveland.oh.us
Our website: www.rethinkcleveland.org

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