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Orange Village: Pinecrest

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I thought there was a thread for this, but maybe it got deleted from the GUOCO13

 

For those who are keeping track, Orange Village passed the Zoning change related to the proposed Pinecrest mixed use development. 709 yes, 532 no. So, I guess another giant strip center is coming out in the suburbs. Huzzah.

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Yep. The construction of this retail complex will result in the closure of other businesses and more chronic vacancies. Why? Consider this:

 

+ There are more than 37 square feet of convenience and shopping floor space per capita in the region. While there are no national figures available for an exact comparison, the amount of floor space per capita for shopping centers typically is in the 20 to 30 square feet range in other metropolitan areas.

 

+ There are more than 10 million square feet of vacant retail space in the Northeast Ohio region. The vacancy rate of 7.4% is slightly more than might be expected for a region of its size.

 

+ The region is saturated in the convenience and shopping goods categories by more than 6 million square feet.

 

+ There is an overwhelming amount of vacant land, 77 square miles, zoned for more retail in the region. If all 49,500 acres zoned for retail were developed, more than three times the amount of existing retail development could be built in an already saturated market. Such flexibility in choices for retail developers could prove to be a serious threat to existing retail centers throughout the region.

 

+ While the population of suburban Cuyahoga County decreased by 9.2% between 1968 and 1998, the amount of retail floor space increased by 90.9%.

 

SOURCE:

http://planning.co.cuyahoga.oh.us/retail/sum_overview1.html

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The people to the east and south of this are going to regret they voted for this.  Lately I have been driving from Solon to Cleveland Heights about 5pm and taking the back roads which go near this development (particulary Brainard but others as well).  I am shocked how the traffic backs up NOW on what are more or less rural roads.  Also, a few weeks ago I got off at the Harvard exit of 271 about 5 pm trying to make my way to Chagrin Falls.  Again everyway I turned traffic was backed up on roads you would not expect much traffic let alone a backup.  It is a mess now...it will only get worse.

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Oh, don't worry. There is an unlimited pot of money for more and wider roads to add more cars. Wait, that fund is bankrupt?? Ooops......

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The people to the east and south of this are going to regret they voted for this.  Lately I have been driving from Solon to Cleveland Heights about 5pm and taking the back roads which go near this development (particulary Brainard but others as well).  I am shocked how the traffic backs up NOW on what are more or less rural roads.  Also, a few weeks ago I got off at the Harvard exit of 271 about 5 pm trying to make my way to Chagrin Falls.  Again everyway I turned traffic was backed up on roads you would not expect much traffic let alone a backup.  It is a mess now...it will only get worse.

 

Traffic has been building, however, there's been a ton of road construction on Lander / Brainard & Harvard road over the last 2 months, shutting down all of the roads in one direction or another at the same time. As a result, there's been quite a bit of back up on the surrounding roads.

 

In this particular instance, I didn't vote against the zoning because of traffic. Given its proximity to the 271 / Harvard interchange, I don't see much spillover into the local roads by non-locals. I voted against it because the two things we have in overabundance in NEO is housing supply and retail, and that's the 2 main components of this project.

 

Supposedly, they developer is required to have 70% of the retail tenants be companies new to the region (i.e., can't poach them from elsewhere). That being said, there's no doubt in my mind that in 10-15 years from now, some other new development is going to make a grab for those same tenants.

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SMH.  Ridiculous.  In 20 years every suburb is gonna have a Legacy/Crocker development that's half empty. Planning for transportation and development like this really needs to happen on a regional level.  Otherwise there's no way to stop the madness.

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Oh, don't worry. There is an unlimited pot of money for more and wider roads to add more cars. Wait, that fund is bankrupt?? Ooops......

 

Looks like some burbs are already tapping into a new source: http://www.cleveland.com/strongsville/index.ssf/2013/11/strongsville_places_proposed_t.html

 

TIFs have been around for a while, but traditionally they're used to finance the on-site public infrastructure or to subsidize the project itself, and generally for projects that wouldn't occur otherwise.  Strongsville's Giant Eagle TIF looks like it would fund some loosely associated road improvements.  I don't really care what they do with their own tax money, but I believe TIF's also siphon off the tax money that would otherwise go to other regional taxing authorities, like the Metroparks, county libraries, and the Cuyahoga County itself.

 

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I wonder if the clause stipulating that the majority of retail establishments must not have another location within 20 miles, would allow a store to relocate there if there were no others in the area, for example, if Le Creuset relocated there from Legacy Village.  Also, our metro is much more than 20 miles across..... 

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Crocker is 30 miles away... so something like Urban Outfitters, not yet on the east side, could surely do so as a "new to east side" store... Something relocating from east side seemingly could do so if the 65% were met with other stores - but I read somewhere they didn't intend to poach from nearby centers.. Interestingly, the developer's own info on the project originally indicated 65% "new to NEO' - not "new within 20 miles"...

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The people to the east and south of this are going to regret they voted for this.  Lately I have been driving from Solon to Cleveland Heights about 5pm and taking the back roads which go near this development (particulary Brainard but others as well).  I am shocked how the traffic backs up NOW on what are more or less rural roads.  Also, a few weeks ago I got off at the Harvard exit of 271 about 5 pm trying to make my way to Chagrin Falls.  Again everyway I turned traffic was backed up on roads you would not expect much traffic let alone a backup.  It is a mess now...it will only get worse.

 

Traffic has been building, however, there's been a ton of road construction on Lander / Brainard & Harvard road over the last 2 months, shutting down all of the roads in one direction or another at the same time. As a result, there's been quite a bit of back up on the surrounding roads.

 

In this particular instance, I didn't vote against the zoning because of traffic. Given its proximity to the 271 / Harvard interchange, I don't see much spillover into the local roads by non-locals. I voted against it because the two things we have in overabundance in NEO is housing supply and retail, and that's the 2 main components of this project.

 

Supposedly, they developer is required to have 70% of the retail tenants be companies new to the region (i.e., can't poach them from elsewhere). That being said, there's no doubt in my mind that in 10-15 years from now, some other new development is going to make a grab for those same tenants.

 

I'm often making that trip in the other direction about 5:15pm.  A big part of the problem is indeed the construction.  Another is that people are discovering (as I did awhile ago) that it's a lot quicker to take Brainard to the Cannon-Richmond intersection that it is to take Richmond.  Richmond itself is an alternate to the 271-S fiasco....it would be moreso if it hadn't been designed about as dumbly.

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Does SouthPark have any stores which are not found anywhere else in NEO?  That would also be further than 20 miles away from this development.

 

That 20 mile restriction is garbage.  There has to be a reason they chose that and not something like 50 miles.

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Through this process, the big question everyone I spoke to seemed to have was "who is this developer". It seemed like a pretty large project for a developer of his size.

 

Now, it all comes into focus

 

Fairmount Properties signs on as joint venture partner for Pinecrest development in Orange

 

ORANGE, Ohio -- The developer behind the large Pinecrest project in the Cleveland suburb of Orange is bringing on Fairmount Properties as a joint-venture partner in the deal.

 

David Lewanski and Fairmount said Saturday that they will collaborate to build stores, offices, restaurants and homes on a 79-acre site at Interstate 271 and Harvard Road. Voters in Orange, a small East Side village, approved a rezoning for the project on Tuesday

 

http://www.cleveland.com/business/index.ssf/2013/11/fairmount_properties_signs_on.html

 

I'm wondering if they kept this quiet because they felt it would negatively impact the re-zoning issue? I can't imagine it would have swayed opinions one way or the other.

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Pinecrest developers line up retail tenants, revise plans for big East Side project

Print Michelle Jarboe McFee, The Plain Dealer By Michelle Jarboe McFee, The Plain Dealer

 

ORANGE, Ohio -- A high-end movie theater and a restaurant that offers bocce and bowling have signed early commitments to Pinecrest, a suburban Cleveland real estate project where construction might start in the spring...

 

Orange Mayor Kathy Mulcahy said the village expects to receive updated development plans for Pinecrest this week. Angling for a late-2016 opening, the project would be Greater Cleveland's first such undertaking since Westlake's Crocker Park.

 

"The plan they've been working on, that I've seen, is a much better, highly desirable plan," Mulcahy said of Fairmount...

 

Developer roster changes

 

The layout of Pinecrest isn't the only change.

 

In the last two months, behind-the-scenes shuffling has resulted in a different development team.

 

David Lewanski, who assembled the land by striking deals with homeowners along Pinecrest Drive and Walnut Hills Avenue, has bowed out on the commercial side. Now he and Pittsburgh investor Edward Dunlap are focusing on a residential project that will occupy a northern slice of the site.

 

Fairmount, which joined the Pinecrest team last year, recently partnered with members of the DiGeronimo family to buy out Lewanski's stake in the retail portion of the endeavor. The parties didn't disclose terms of their deal.

 

http://www.cleveland.com/business/index.ssf/2014/10/pinecrest_developers_line_up_r.html#incart_more_business

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Pinecrest developers line up retail tenants, revise plans for big East Side project

By Michelle Jarboe McFee, The Plain Dealer

on October 08, 2014 at 12:30 PM, updated October 08, 2014 at 12:58 PM

 

ORANGE, Ohio -- A high-end movie theater and a restaurant that offers bocce and bowling have signed early commitments to Pinecrest, a suburban Cleveland real estate project where construction might start in the spring.

 

Nearly a year ago, voters in the small East Side village of Orange signed off on a 70-plus-acre rezoning north of Harvard Road and east of Interstate 271. Now the developers tackling that site say they've lined up tenants for 140,000 square feet of stores and restaurants - just over a third of the planned retail space.

 

Fairmount Properties of Cleveland also has signed a letter of intent with a national hotel operator, who plans to open a 153-room hotel linked to an office building and a parking garage. On top of that, the developer is considering adding residences - it's unclear whether they'll be for rent or for sale - above some shops and eateries.

 

READ MORE AT:

http://www.cleveland.com/business/index.ssf/2014/10/pinecrest_developers_line_up_r.html

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20368792802_f006b7d6da_b.jpg

 

http://www.crainscleveland.com/apps/pbcsi.dll/storyimage/CC/20150806/NEWS/150809890/AR/0/AR-150809890.jpg?MaxW=880&v=201411210943

 

Pinecrest mixed-use real estate project in Orange Village gains $17 million initial investment

August 06, 2015 UPDATED 14 HOURS AGO

By STAN BULLARD   

 

The $225 million Pinecrest mixed-use real estate project in Orange Village has gained a $17 million initial investment from an affiliate of Miami Beach-based Lennar Corp. (NYSE: LEN) and has started clearing the site for the development, lead developer Fairmount Properties announced on Wednesday, Aug. 5.

 

Randy Ruttenberg, Fairmount founder and principal, said in a news release, “It’s extremely gratifying to see the potential we knew in Pinecrest affirmed by an accomplished national investor with such deep industry expertise. Their investment is not only a huge win for Pinecrest, but for the region.”

 

The $17 million, which Fairmount described as an advance, is from Rialto Capital, a real estate investment unit of the Miami-based homebuilder that also operates Lennar Commercial, a commercial real estate concern.

 

MORE:

http://www.crainscleveland.com/article/20150806/NEWS/150809890/pinecrest-mixed-use-real-estate-project-in-orange-village-gains-17#utm_medium=email&utm_source=ccl-dailynews&utm_campaign=ccl-dailynews-20150806

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....ew.

 

I feel sorry for the people who face that 2 story solid wall on the backside of the right part of the image.

 

Integrate this into an existing street grid and hide the parking better and it could be an interesting development.

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....ew.

 

I feel sorry for the people who face that 2 story solid wall on the backside of the right part of the image.

 

Integrate this into an existing street grid and hide the parking better and it could be an interesting development.

 

they talked about that.  The residents didn't want it.  The only way the development was approved was to build the huge wall of dirt.  Which by the way added some $4 million to the project which is how the DiGernonimo's of Independence Excavating became involved in the project

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Here are shots from today of the Pinecrest construction site (w/new info sign) - taken from the adjacent UH facility, a hotel across the road from west entrance and then Harvard Road. You can see the large dirt mound and long masonry wall going up.  The development sits somewhat downhill from the adjacent UH, Bahama Breeze, etc.. Unsure if that is natural or due to the movement of dirt to the wall.

 

A new website was.discoverpinecrest.com is noted on the sign, along with the names of tenants - including Whole Foods, REI and West Elm (not yet officially announced, until this sign), but not Container Store (yet...).

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^Yup. Residents asked for the wall of dirt... Them Surburban Ohio folks be crazy.

 

Or they want the character of their neighborhood changed as little as possible.

 

This compromise worked for them.

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^Yup. Residents asked for the wall of dirt... Them Surburban Ohio folks be crazy.

 

Or they want the character of their neighborhood changed as little as possible.

 

This compromise worked for them.

 

What neighborhood character? Cul-de-sac development off the interstate?

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^Yup. Residents asked for the wall of dirt... Them Surburban Ohio folks be crazy.

 

Or they want the character of their neighborhood changed as little as possible.

 

This compromise worked for them.

 

What neighborhood character? Cul-de-sac development off the interstate?

 

The neighborhood they chose to move to.

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How much county tax-payer money is going to this? this is a useless development.  Those people chose to live all the way out there, they can drive to wherever the chain malls are.

 

Not sure about useless, but redundant and wasteful - absolutely.

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New upscale steakhouse coming to Pinecrest! .... Oh wait, no, just another establishment relocating from across I-271.

 

http://www.clevescene.com/scene-and-heard/archives/2016/01/11/red-the-steakhouse-to-close-in-beachwood-open-in-pinecrest

 

If Red were moving from a competing retail development, not from a nondescript/low visibility spot on the side of an office park strip, I'd be more concerned. I'm also not sure, other than the new, larger Apple store that moved two years ago, of any other retailers or restaurants that have been confirmed to be "relocating from across I-271" - despite some potential ones on leasing maps. With Texas de Brazil and Capital Grille both opening in the coming months near Red, they have to up their game...

 

Also, the Moxie/Red folks sought approval for an Asian restaurant concept, adjacent to their existing quarters, in the last year or so, if I recall. It would seem quite possible that that or another Moxie/Red concept is already slated to go into the Red spot - meaning a net gain of 1 restaurant in the general Beachwood area.

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