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Posted on: December 6, 2018

Top of the Hill Project Gains Key Approvals

FOR IMMEDIATE RELEASE

Media Contact:

Mary Trupo

Director of Communications

publicrelations@clvhts.com


 

TOP OF THE HILL PROJECT GAINS KEY APPROVALS     
 

CLEVELAND HEIGHTS, OH, 12/06/2018 - On Monday, Cleveland Heights City Council held a public hearing and voted in favor of adopting the Planned Development Overlay (PDO) District Development Standards for the Top of the Hill mixed-use development project.

This action, which follows a favorable recommendation on the PDO from the City's Planning Commission on November 27, amends the Zoning Map for the City to enable the redevelopment of this site, located at the intersection of Euclid Heights Boulevard and Cedar Road.  Council also took action at this meeting to amend the City's Development Agreement with its project development partner, Indianapolis-based Flaherty & Collins Development, Inc. to further advance redevelopment of the site.

As a highly visible property at the gateway between the Heights and University Circle, developing this property has been a long-time goal of the City. According to City Economic Development Director Tim Boland, "The approval by City Council this past Monday marks a significant milestone along the path of realizing this potentially catalytic development for our City." Construction of the project is slated to commence during the 4th Quarter of 2019, with completion anticipated during the 1st Quarter of 2021.

This estimated $84 million project is anticipated to consist of approximately 275 to 300 market-rate luxury apartments, up to 15,000 square feet of new first-floor commercial space, and a structured parking garage containing 550 parking spaces, as well as additional surface parking throughout the development site.  The project is expected to create over 90 permanent jobs, and almost 600 construction jobs when being built. Income tax revenues to the City are projected at almost $270,000 annually from the project, with an additional one-time influx of revenue from construction payroll of over $685,000.

The Top of the Hill site is located within easy walking distance to businesses in one of the City's most popular and vibrant commercial districts - the Cedar Fairmount District. The District is considered the Gateway to Cleveland Heights and truly one of the Cleveland area's most vibrant shopping and dining experiences.

Cleveland Heights continues to take steps to enhance its desirable location for development and redevelopment. Situated just up the hill from University Circle, the Cleveland Clinic and a host of museums and cultural attractions, Cleveland Heights is a prime location for new businesses and residential dwellings.

More information on this exciting upcoming development project in Cleveland Heights is available at www.clevelandheights.com/toh

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