Remember the Flats? This was an erstwhile down at the heels neighborhood in Cleveland along the river that had gotten converted into an entertainment district. Like many such districts, it apparently lost its cool and suffered a pretty serious decline.
Now a developer is putting forward a bid to redevelop the east bank with a $400 million mixed use project. This would be a mixed use, high density complex of housing, office space, entertainment, and retail uses proposed to open by 2010. The interesting thing is that downtown Cleveland, which isn’t the first place that comes to mind when you think of thriving cities, is very tight on office space and may be sprouting new towers in addition to this (assuming it gets built). It will be interesting to see if they get financing in this environment.
Bonus Cincinnati News: Cincy has its own proposed riverside development, this one call the Banks. This project has been on again, off again for years it seems. This project is even bigger than the Cleveland one and could reach as high as $1 billion. The city and county have scheduled votes this week on it, though some are urging patience.
Source: theurbanophile.blogspot.com