/ Features / The next must-live Cleveland neighborhood is… The Campus District!

The next must-live Cleveland neighborhood is… The Campus District!

The Campus District on July 30, 2015 - 10:09 am in Features, Heal, Learn, Live, Play, Project

Article written by Erin O’Brien, Fresh Water Cleveland

To read the full article from Fresh Water Cleveland, click here!

Spanning from the Shoreway to Orange Avenue between East 30th and 18th Streets, the Campus District covers a scant square mile of incredibly diverse territory that is bursting with more than $260 million in development, both public and private. Investors are preemptively snapping up properties for residential and commercial projects as this neighborhood transforms with each passing day. Urban, connected and on the move, the Campus District is poised to take off in ways old time Clevelanders never could have imagined—and then some.

“The next development hotbed”

For anyone in the market for an urban address, the options within the Campus District are about to explode. The largest effort will be the Cuyahoga Metropolitan Housing Authority’s (CMHA) ambitious Cedar Redevelopment project.

“This will have a vast, positive impact on the Central Choice community,” says CMHA chief executive officer Jeffery Patterson of the $178 million effort, which will unfold via four phases on a 15-acre area adjacent to East 30th Street between Central and Community College Avenues. While phases three and four are still in planning, phase one, a four-story building with 60 one-bedroom units, will be complete in fall 2016. Phase two, 50 one- to four-bedroom town homes, will be complete in spring 2017. Groundbreaking for the mixed income units is scheduled for next month.

The city has also slated $5 million to divide the sprawling area into smaller, friendlier sections with new streets.

“Instead of a megablock,” says Campus District Inc. executive director Bobbie Reichtell, “it will just be regular streets.”

Located in the southeast quadrant of the district, the project will balance the significant residential options to the north, such as as the Langston on Chester,2320 Lofts on Superior and the Walker Weeks building on Prospect, which used to be home to the offices of the legendary Cleveland architects of the same name. The forthcoming $7 million redevelopment of the 1917 Stuyvesant Motor Company Building on Prospect, which last month was awarded an Ohio historic-preservation tax credit, will transform the former City Blue building into 40 market-rate apartments. The Domain, formerly the YMCA Building on Prospect, is also slated for a major renovation.

While not residential, perhaps one of the most telling projects in the district will unfold at the Artcraft Building on Superior, which real estate developer Global X is scheduled to transform into Class B+ offices over the next year. The parcel is one of many the organization is amassing along the district’s Superior Avenue corridor.

“We see it as the next development hotbed, says Global X’s chief investment officer Timm Judson. “It’s one of the last great wide avenues that hasn’t received much attention and frankly, the pricing there is fairly low, so we want to take advantage of that.” While there are no specific plans beyond the Artcraft renovation, Judson says mixed-use and residential development, including student housing, are on the table for the vacant lots and four remaining structures the company has scooped up.

So what’s behind the surge in the Campus District development?

Reichtell cites the tremendous success of downtown housing with occupancy rates nearing 97 and 98 percent. “That shows the supply is not meeting the demand,” she says, adding that the Euclid Avenue Healthline is another game changer. “It has really made it possible for Case and medical students to live in the Campus District and quickly commute over to University Circle,” she says. Lower rents than those in other downtown districts make the area that much more attractive.

Lastly, Reichtell notes the efforts of Cleveland State University’s (CSU), two presidents, Michael Schwartz (2002-2009) and his successor Dr. Ronald Berkman (sitting) that have elevated the school’s image academically and physically with higher admission standards and student residential projects such as Euclid Commons and Fenn College.

All of this culminates to attract the most important component of any neighborhood: people.

To read the full article from Fresh Water Cleveland, click here!

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