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LlamaLawyer

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  1. I know the rental and condo markets aren’t one and the same, but if you look at the rent-to-value ratio of Lumen vs some of the nearby condos popping up.... I think rents like this bode extremely well for the condo market. Compared to 12th and Ave and the Knez townhomes, the RTV ratio is like 1.2-1.5% for the 3 br units.
  2. I’m happy when stuff gets built and when equitable development happens. How many cities are there where 90% of the buildings are attractive? Every city has a bunch of ugly buildings, although obviously in different proportions. I do think the City Club design is attractive, but if it ages poorly, so be it.
  3. I think the colors will be great at least initially. Wouldn’t be surprised if they don’t age well, but I also don’t really care. We’ve got a few buildings that didn’t age well, so what’s one more?
  4. Ya, it’s really not a zero-sum game. Any out-of-state businesses moving into any city in the county is a win for the region and every city within. Some employees of a Lakewood HQ will live in Cleveland. More will shop in Cleveland, go to Edgewater and Indians games, etc. All will pay county taxes that help subsidize tax credits that attract more business to the urban core. Cleveland has less than 1/3 of the region’s population. Maybe historically that’s because the suburbs pilfered, but now it means that Cleveland’s success in the next decade is dependent on the region’s success.
  5. SHW has WAY more to gain from underselling this new HQ than from overselling it. Almost none of the people who will be impressed by a big shiny tower and more jobs downtown are people that SHW is worried about impressing. Their shareholders don't care. All they see is a big line item in the expense category.
  6. Thanks for the clarification. That makes a lot more sense. Frankly, with a conservative public company that just had a kind of disappointing earnings report, I could see an announcement of "approximately" 1,000,000 sq. feet turning out to really mean 1,300,000 sq. feet.
  7. What happened to make this go from a 1.8 million sq. ft. HQ to a 1 million sq. ft. HQ? A lot of what I'm hearing makes me wonder if SHW is doing this all in a much more incremental way than we expected.
  8. I am just so glad everything stayed in the county. Of course Brecksville is somewhat disappointing, but the regional and city economies are so intertwined. There will still be R&D employees who live downtown (yes, you can live downtown and commute to the suburbs; I know people who do it). There will still be R&D employees patronizing downtown businesses. Several hundred out-of-state jobs coming to a suburb is a victory for the region, even if some jobs are being moved out of the urban core.
  9. And of course they will never say that until they have decided for sure they won’t pursue the TMUD. Because admitting they don’t need it would disqualify them for it.
  10. Was in the Oswald Building this morning and overheard a couple folks in the elevator talking about going to a meeting in Ohio City “regarding the market” this afternoon. Not sure if that’s a reference to West Side Market or Market Square. I hope the folks at Oswald are getting involved in the current West Side Market chaos. They’re pretty good problem solvers in my experience. Anybody got further information on this?
  11. See, I find that to be the perfect solution! Kidding, point taken.
  12. Is there any inherent reason the R&D couldn’t be on the Weston site too? If the site for the R&D is truly up in the air, then I would hope the city is pitching this idea to SHW too and at least talking about what kind of incentives could make it happen. This is all assuming SHW isn’t just trying to get a better deal from the city (which would be smart on SHW’s part and unsurprising).
  13. The article says they’re hired to help “finalize” financial incentives. There’s also a $70,000 limit, which is not a ton of money to pay Ulmer for a transaction like this. Sounds to me like good news that we’re in the late stages where business people have worked everything out in principle and just need a couple lawyers to make it happen.
  14. Wow, those renderings look terrific. So often this style looks really cramped and cluttered, but this just looks so great.
  15. Great point. Actually, if it’s anything thats automotive electric (even other than Rivian), I would bet that bodes well for financing. It seems like investors are really willing to give lots of money to electric automakers these days.
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