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Cleveland: Downtown: Geis condo tower

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3 hours ago, ASP1984 said:

 

Having never heard of the Huron Rd Subway, I did some digging and found this cool Cleveland Historical site:

 

https://clevelandhistorical.org/items/show/361

 

I really like the idea of clustering density around these previously proposed routes in the hope of steering current/future investments in public transit. 

 

image.thumb.png.7000c67ad22399d8ddeead6717bb3ea9.png

 

@ASP1984 you might appreciate the Google Map I created of many of the past public transit rail projects that unfortunately never became reality, including the Superior / Huron downtown subway loop. Check out this post:

 

 

 

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29 minutes ago, KJP said:

 

I can. Geis is a large real estate company and has a substantial amount of cash flow and collateral. I ran this by a friend at a residential real estate brokerage who had no doubts that Geis probably already has financing without a single presale.

 

 Very surprising to see a developer provide such a risky guaranty from out-of-deal assets, but I hope it's true! Great sleuthing work. 

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14 minutes ago, StapHanger said:

 

 Very surprising to see a developer provide such a risky guaranty from out-of-deal assets, but I hope it's true! Great sleuthing work. 

 

Wait until you see what's popping in the Flats.... 😉 EDIT - although that equity was raised from in-deal assets, among others close by.

Edited by KJP
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33 minutes ago, KJP said:

 

Wait until you see what's popping in the Flats.... 😉 EDIT - although that equity was raised from in-deal assets, among others close by.

OK KJP...WHO, WHAT. WHERE?   You are an evil man...you cannot kept doing this to us.  But seriously is this another Geis "thing".

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This is designed at a maximum 17 stories on the lot you see being drilled with an adjacent 5-story parking deck to the east of the County garage along Prospect.  

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6 minutes ago, Htsguy said:

OK KJP...WHO, WHAT. WHERE?   You are an evil man...you cannot kept doing this to us.  But seriously is this another Geis "thing".

 

Not Geis

 

2 minutes ago, Jenny said:

This is designed at a maximum 17 stories on the lot you see being drilled with an adjacent 5-story parking deck to the east of the County garage along Prospect.  

 

Pretty close.


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58 minutes ago, KJP said:

 

Wait until you see what's popping in the Flats.... 😉 EDIT - although that equity was raised from in-deal assets, among others close by.

 

Will info about the Flats project be revealed in your article about the Geis project?

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27 minutes ago, Jenny said:

This is designed at a maximum 17 stories on the lot you see being drilled with an adjacent 5-story parking deck to the east of the County garage along Prospect.  

Welcome to the party Jenny!

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1 hour ago, KJP said:

 

Wait until you see what's popping in the Flats.... 😉 EDIT - although that equity was raised from in-deal assets, among others close by.

Something beyond the Kenect proposal???

 

care to at least tease which bank 😂

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6 minutes ago, Sapper Daddy said:

Something beyond the Kenect proposal???

 

care to at least tease which bank 😂

Yes, east or west? Let us dream tonight @KJP

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9 hours ago, KJP said:

 

Yes, stay tuned. 😉 Since the news of this project is out, I'm pushing to get the OK to publish this story ASAP.

 

 

I'm sure very few Indians fans will be able to afford it.

But ....

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41 minutes ago, jeremyck01 said:

 

Will info about the Flats project be revealed in your article about the Geis project?

 

No. Separate article. Still don't have enough to write it, or at least write it well. 

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1 hour ago, Sapper Daddy said:

Something beyond the Kenect proposal???

 

care to at least tease which bank 😂

BTW:   Whenn is Kennect supposed to break ground?

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3 hours ago, Jenny said:

This is designed at a maximum 17 stories on the lot you see being drilled with an adjacent 5-story parking deck to the east of the County garage along Prospect.  

 

I sure hope there is liner retail and apartments condos(!) above along Prospect.  I’m assuming the city would make them do this whether it is in the initial plan or not. 

Edited by Boomerang_Brian
Condos(!)

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22 minutes ago, Boomerang_Brian said:

 

I sure hope there is liner retail and apartments condos(!) above along Prospect.  I’m assuming the city would make them do this whether it is in the initial plan or not. 

 

Cleveland passed a slew of zoning requirements that require liners for parking decks. If I recall correctly, they had to "force" the Lumen project to incorporate the retail along the first floor of their parking deck.

 

Downtown Cleveland zoning tweaks shift height limits, boost potential for historic easements

Quote

Other ordinances being crafted would require liner buildings, filled with offices, retail or other active uses, on new downtown parking garages.

 

Edited by imjustinjk
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12 hours ago, Oldmanladyluck said:

^That lot footprint os small- my guess is its at least 14 stories, probably more.

12 hours ago, GISguy said:

Why only limit ourselves to 14? Lets go whole hog! 100 floors or bust.

image.thumb.png.cb2c5c5acfc0b0c11d1de539458502ba.png

 

Being a small lot the only place you can go is up!

Edited by Mildtraumatic
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7 hours ago, imjustinjk said:

 

Cleveland passed a slew of zoning requirements that require liners for parking decks. If I recall correctly, they had to "force" the Lumen project to incorporate the retail along the first floor of their parking deck.

 

Downtown Cleveland zoning tweaks shift height limits, boost potential for historic easements

 

 

Yes, the city did have to “force” Lumen to include the retail. And I agree that the newer zoning requirements should require the Geis condo project have retail and liner condos along Prospect. I’m hoping that the city declines any potential variance requests that Geis might make in an attempt to avoid these requirements. For example, the way the current NuCLEus plans don’t have liner apartments on East 4th and Huron. 

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11 hours ago, StapHanger said:

 

 Very surprising to see a developer provide such a risky guaranty from out-of-deal assets, but I hope it's true! Great sleuthing work. 

I was under the impression that Fred Geis had sold his interest in the family business to his brother and was on his own and involved with Hemingway Development, no?

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3 hours ago, CleCaneFan said:

I was under the impression that Fred Geis had sold his interest in the family business to his brother and was on his own and involved with Hemingway Development, no?

 

Yes, Fred Geis is retiring to travel the world. But there are other members of the Geis family who are taking over his interests and activities. 

Edited by KJP
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4 minutes ago, fishface said:

Here's a quick and dirty mockup I did on my phone from the Indians game yesterday 😂
IMG_6506.thumb.jpg.a1f384efcfd79215c6acd443a1737d36.jpg

You're missing another 60 stories 😛 seriously though, that'll fill a nice part of that angle from the stadium. If NuCLEus stops dragging it's feet we're bound for a really unique (and growing!) skyline (Lumen, Beacon, Hippodrome, y'all know what I'm saying lol).

 

PS- Imagine how cool one of those field facing hotel rooms will be in the ATT Building (and or a rooftop bar 😍)

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Although Geis has controlled this site as well as the parking garage in the back for quite some time now, I do not believe it is or ever was a development site for condos. A friend who is well connected to Developers in Cleveland sent me over a rendering he got his hands on for this site and believes Geis is currently pricing... looks like office space to me, which is parallel to what I have heard from him as well...

image.png.4b4c8b3eb2d7afa2a256016fb234496b.png

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23 minutes ago, CLEInsider101 said:

Although Geis has controlled this site as well as the parking garage in the back for quite some time now, I do not believe it is or ever was a development site for condos. A friend who is well connected to Developers in Cleveland sent me over a rendering he got his hands on for this site and believes Geis is currently pricing... looks like office space to me, which is parallel to what I have heard from him as well...

image.png.4b4c8b3eb2d7afa2a256016fb234496b.png

 

Wow, I really hope that isn't it, that's a pretty rough design (90s IBM in the burbs anyone?) and would be such a lost opportunity for that lot. 

Edited by DevolsDance
Spelling
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Just now, DevolsDance said:

 

Wow, I really hope that isn't it, that's a pretty rough deign (90s IBM in the burbs anyone?) and would be such a lost opportunity for that lot. 

image.png.75fae41b92788857556876034f55710e.png

90s IBM? lol silly.

Plus as i understand it the rendering was tailored to the prospect's design ideas. im working on finding out some more details about this tenant, because im very interested to see who it could be.

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"90s IBM in the burbs"

 

Totally.

 

I truly hope its condos in play here. Its sorely needed. 

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With the building having a smaller footprint, would-could the substructure be affordable enough to go taller than we've been seeing? 

Edited by Mildtraumatic

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@YO to the CLE I thought I was closer time-wise to getting the all-clear to publish my article, but my main source has pulled the reins back on me. I'm sure you can appreciate that. However, I wouldn't have created a new thread had that geotech drilling rig not appeared on Geis' land two days ago. And I had previously reported that condos are planned for this site: http://neo-trans.blogspot.com/2019/04/cleveland-is-rising-up-in-o-zone.html That plan continues. So, I wait....

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1 hour ago, KFM44107 said:

Whats with randomly misquoting @CLEinsider101 on this thread @math? That was definitely said by marty on another thread, not on this one. Unless you accidentally posted to this thread.


Must have had two windows open, no idea? I was mostly just annoyed to open a thread I was excited about to find no new information. Which is to say, back to the topic. 

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I am probably wrong but I just don't see the market for this yet.  Condo's are different from apartments in that you have to have enough money for a down payment which wipes out a lot of young professionals who are currently apartment dwellers.  Even cheap condos at $200k require a $40k down payment.  Even also assuming the down payment is paid for by parents or whatever, part of the attraction of renting is the freedom to leave after a year or whatever.  Not so with a condo.  So playing these two out, you're back to single middle age professionals and married couples who have no kids.  Who want to live downtown.  Not Ohio City or Detroit Shoreway - downtown.  We'll see

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2 hours ago, CLEInsider101 said:

A friend who is well connected to Developers in Cleveland sent me over a rendering he got his hands on for this site ...

image.png.4b4c8b3eb2d7afa2a256016fb234496b.png

 

tfrdFnPxwO01VQygc-ZHsepCzSn-vhXYhjKNXgyc

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8 minutes ago, KJP said:

@YO to the CLE I thought I was closer time-wise to getting the all-clear to publish my article, but my main source has pulled the reins back on me. I'm sure you can appreciate that. However, I wouldn't have created a new thread had that geotech drilling rig not appeared on Geis' land two days ago. And I had previously reported that condos are planned for this site: http://neo-trans.blogspot.com/2019/04/cleveland-is-rising-up-in-o-zone.html That plan continues. So, I wait....

Be the first again to break news is all I ask!

 

EDit: Should of kept it quiet until you got it on your blog. Cleveland.com has a lead now.

Edited by Mildtraumatic
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4 minutes ago, Mildtraumatic said:

Be the first again to break news is all I ask!

 

We aims to please! 🙂


"Save the planet. Move to the city." -- The Downtowner podcast

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2 hours ago, CLEInsider101 said:

Although Geis has controlled this site as well as the parking garage in the back for quite some time now, I do not believe it is or ever was a development site for condos. A friend who is well connected to Developers in Cleveland sent me over a rendering he got his hands on for this site and believes Geis is currently pricing... looks like office space to me, which is parallel to what I have heard from him as well...

image.png.4b4c8b3eb2d7afa2a256016fb234496b.png

 

There is no way that anything like this is what is going to happen.  And yes, it does look like 90's burbs IBM.

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34 minutes ago, jeremyck01 said:

 

There is no way that anything like this is what is going to happen.  And yes, it does look like 90's burbs IBM.

I will be pissed if that Rockside Road looking glass blob is what ends up blocking my view of Progressive Field!!

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57 minutes ago, gottaplan said:

I am probably wrong but I just don't see the market for this yet.  Condo's are different from apartments in that you have to have enough money for a down payment which wipes out a lot of young professionals who are currently apartment dwellers.  Even cheap condos at $200k require a $40k down payment.  Even also assuming the down payment is paid for by parents or whatever, part of the attraction of renting is the freedom to leave after a year or whatever.  Not so with a condo.  So playing these two out, you're back to single middle age professionals and married couples who have no kids.  Who want to live downtown.  Not Ohio City or Detroit Shoreway - downtown.  We'll see

I think a lot of people on here discount the number of those wealthy enough to live where they want and send their kids to private school, which makes all of the above a non-factor. Its not nearly as large a group as the other groups you named, but if there were more condo options downtown that group would be more size able than you think. 

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