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Cleveland: The Residences at 668 Euclid Avenue

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Sorry, yeah, I wasn't clear about it. From what I recall from the site plan I saw, there will be a little L-shaped nook on the northeast corner of the building, but the patios will face east and south. So I believe a handful of units that front Euclid will have patios, but they will be to the rear of the apartment, not on the Euclid side.

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The fitness center will be open to the public.  It is not yet determined if it will be a 24 hour facility as of now.  There will be a health food cafe and a tanning salon.  The facility will offer a wide array of aerobics classes and be packed full of equipment.  It will NOT be the fitworks though!

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There is an empty lot just west of 668 Euclid, adjacent to the building.  I think they did some digging in there at some point.  Does anyone know what's going to happen with that lot?  Are they going to use it for parking, or build something on it?

 

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I am  much more interested in the large parking lot to the east of 668. I would imagine this property will become a lot more desirable for construction sandwiched between a fully renovated 668 and the renovation on the E9th corner in another year.

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^Unless somebody has a lot of $$$ that parking lot is going to be there for a long time.  The mistake was made years ago to allow the demolition of the Hipp.

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I was thinking the same thing... it's a surface lot... can't be worth too much.  A nice thin apartment/condo tower rising out of that lot would be fantastic.  And if you incorporate a multi-level parking garage into the tower you would be just aces as far as parking is concerned.

 

Than again, I know nothing about commercial real estate or development...

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That property is probably worth a good deal to the owner, especially if the land is paid for.  Parking rents are a cash cow and relative to taxes it is a large investment income.  The problem associated with aquiring the property from the owner is that you would have to factor in the future value of the property.  And like I said as if there is no or little debt leverage aquiring the property would be difficult.  Much easier for the owener to sit on the property and continue to collect parking fees.

 

Now, if there is significant debt leverage and the owner is involved with other properties then there may be some room to aquire the property.  Banks love parking garages as they provide a much steadier stream of cash and therefore are less risky.  So if the owner is involved in developing another property (unlikely considering this one would probably have more potential to bring in money) then it could be aquired. 

 

Now the 515 garage was designed to have apartments above it i believe.  So that could be an interesting posibility depending on this project.

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Hello everyone! I am moving to Cleveland. Just rented a one bedroom in 668.

 

I toured the property at the end of June and it still looked like a lot of work had to be done. I hope they're moving along pretty quickly!

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Welcome to Cleveland, Freud. I hope you get involved with this forum. You'll learn a lot more about the city here than you will anywhere else.


"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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I'm also renting a parking space for $90 per month. I think I read somewhere on this thread that someone had rented for $85. Is this true?

That should be me, and yes I rented the parking space for $85. But the thing is, I had the application only, I did not sign a lease yet. By the way, you did not give my name as referral, do you :)

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Welcome to Cleveland, Freud. I hope you get involved with this forum. You'll learn a lot more about the city here than you will anywhere else.

 

Thanks KJP. I hope to get involved with this forum as well. I have a lot to learn about Cleveland!

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I'm also renting a parking space for $90 per month. I think I read somewhere on this thread that someone had rented for $85. Is this true?

That should be me, and yes I rented the parking space for $85. But the thing is, I had the application only, I did not sign a lease yet. By the way, you did not give my name as referral, do you :)

 

Hi Lion. No, I didn't use your name as a referral, as I hadn't found this board and didn't even know there was a referral process when I put money down for the apartment. Sorry!

 

I'll check on the parking rate. I haven't signed the lease either.

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Hi Lion. No, I didn't use your name as a referral, as I hadn't found this board and didn't even know there was a referral process when I put money down for the apartment. Sorry!
I was joking actually, welcome to Cleveland and to the 668. Hope to see you sometime after August 15th:)

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Oh, one thing I missed. Where is the parking lot? Is it the lot directly to the east of the building on the Prospect side? I only know that there will be internal access, so one doesn't have to walk outside to get to the apartments.

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Parking lot entrance is on the Prospect side of the building, I believe there is a connection from every floor. Please see the attachment.

 

Edit: I meant parking garage, not lot.

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Where the diagram says Colonial Arcade, isn't that where the Dollar Bank building came down so that an additional parking entrance could be built?  So you should eventually have access from Euclid as well.

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Where the diagram says Colonial Arcade, isn't that where the Dollar Bank building came down so that an additional parking entrance could be built?  So you should eventually have access from Euclid as well.

I have only the plan for Prospect side of the building but you may be right, let's hope for the best for Euclid side as well:)

 

By the way, I want to ask this question: do you think Euclid side would be better and if you do, why?

 

For me, I cannot see difference between two and cannot understand why people would like to move to Euclid side from Prospect side by making arrangements...

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Where the diagram says Colonial Arcade, isn't that where the Dollar Bank building came down so that an additional parking entrance could be built?  So you should eventually have access from Euclid as well.

No, this is showing the Prospect Avenue side.  I believe that the future access ramp on the site of the old Dollar Bank building will take you into a separate parking garage in the basement of the Euclid side of the building.

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Where the diagram says Colonial Arcade, isn't that where the Dollar Bank building came down so that an additional parking entrance could be built?  So you should eventually have access from Euclid as well.

I have only the plan for Prospect side of the building but you may be right, let's hope for the best for Euclid side as well:)

 

By the way, I want to ask this question: do you think Euclid side would be better and if you do, why?

 

For me, I cannot see difference between two and cannot understand why people would like to move to Euclid side from Prospect side by making arrangements...

 

I don't know what the difference would be.  My decision factor would be the view out each individual window, which would vary by unit.  I would imagine there are awesome views from both sides of the building. 

 

EDIT:  I didn't get it before... that diagram cuts off in the middle of the building and Euclid Ave would be off the screen to the right.  Now I get it.  Also I never realized there would be two separate garages.  Are you sure they won't connect at all?

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Apparently the garages will not connect.  That was the big fight in tearing down the dollar bank building.  People kept asking why they couldn't just access that underground portion through the prospect garage... but according to them that was not possible.

 

also to the east of the 668 site, is not simply one surface lot.  It's 2 surface lots that hold about 70 cars each and a 7-8 story parking garage (goes down below surface level a bit).  I have no idea how many cars the garage holds.  The individual who owns this property is the same individual who demolished the Hippodrome, Richman Brothers Dept Store, Standard Theatre and others on the site, and has never shown any interest in doing much of anything with the property.

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I split off the discussion about the Hippodrome demolition to a relevant thread because I think it is a discussion that needs to continue. I moved the discussion to:

 

http://www.urbanohio.com/forum2/index.php/topic,7006.msg408825.html#msg408825

 

Back to the 666 (er, 668!)......


"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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Doug Price spoke this evening at the Downtown Cleveland Alliance advisory committee meeting.  He said the Prospect side should be ready August 15 and the Euclid side will be ready on November 1.  Everything will be done March 2010. 

 

The Euclid side was delayed due to government intervention with the terra cotta.  Not sure what that means...  But he said they just got approval on it yesterday.

 

There's 80 people that are on a waiting list to get tours of the units. 

 

There will be a two story, 20,000 square foot fitness center on the Prospect side. (as someone else said, it's not Fitworks)

 

There will be a 4,000 square foot convenience store.

 

The restaurant in the building will be Zig, a high end, French-American restaurant with an outdoor patio and bar.  There will also be indoor seating in the atrium along with indoor entertainment there when the weather is bad. 

 

He said the building will also have cool lighting and that they're working on the design for signage now.

 

Speaking of the indoor atrium...  Does anyone have pictures of what it used to look like in there?  Is that building completely open to the ceiling inside?

 

www.jeremyborger.com

www.twitter.com/jborger

www.examiner.com/x-6824-Downtown-Cleveland-Examiner

 

My mom, the only Puerto Rican Francophile in existence, will be happy about this.  She loves french food.

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Speaking of the indoor atrium...  Does anyone have pictures of what it used to look like in there?  Is that building completely open to the ceiling inside?

 

I'm surprised ClevelandMemory has no pictures of it (I used the search terms "668" and "Atrium"). But the building's atrium was completely open to the ceiling.

 


"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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They are erecting a metal skeleton on the roof of the building now.  I had no idea what this was as I thought everything was just being refurbished.  After looking at the flyer that was posted up thread (http://bugrahan.net/Documents/668Brochure-ILoveDowntown-4%2009.pdf) it looks like the current top of the building does not include the ornate top.  I know I read that they received Historical Tax Credits so is this what the building orginally looked like? 

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yes.  They removed the top floor when they decided to cover it in aluminum for the office conversion.  brilliant.  This will be the penthouse level.

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Just saw the top floor while walking back from lunch and was wondering the same thing. Its nice to see that they are adding the top floor back onto the building.

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A little 668 photo update from lunch...

 

1.  The restoration of the front facade is visible between the scaffolding and mesh.

2.  The steel framework for the reconstruction of the 9th floor and cornice is well underway.

3.  A shot down on the existing canopy showing lots and lots of terra cotta that will soon be on the facade.

4.  The prospect side flying along.

 

By the way... these guys are working until the sun goes down... including saturdays.

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This is going to be such a cool project when it's done. I'm really excited about this.

 

Thanks for the pics!!

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Speaking of the indoor atrium...  Does anyone have pictures of what it used to look like in there?  Is that building completely open to the ceiling inside?

 

I'm surprised ClevelandMemory has no pictures of it (I used the search terms "668" and "Atrium"). But the building's atrium was completely open to the ceiling.

 

 

 

 

I'm fairly certain that the atrium is the former Taylor Arcade.[/img]

 

One of your pictures doesn't show. But the one that does is the Colonial Arcade.

 

This is the Taylor Arcade (not the Colonial Arcade)

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One of your pictures doesn't show. But the one that does is the Colonial Arcade.

 

The Atrium Building's atrium is open to the height of the building (eight stories).


"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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Wow, thanks BarneyBoy!  I knew there had been an arcade in there but not sure I had ever seen a picture of it.  I don't think that the atrium was built out of the arcade though- I have only vague memories of it (though I definitely do remember being there)- as KJP describes it, it was very tall.

 

The Taylor Department Store altered its original building extensively decades before it was converted into Atrium office building- it's possible the arcade was removed as long ago as then...though it's more fun to blame the 1960s renovation.  In that first alteration, they added a few floors and you can see this in the section of the old facade visible from the sides of building still today.

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The Taylor Department Store altered its original building extensively decades before it was converted into Atrium office building
Walker & Weeks were responsible for those alterations. Consider what might have been had they been able to build what they planned for Taylor's before the Great Depression hit.

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I don't think that the atrium was built out of the arcade though
You're probably right, I think the atrium was created when the building was converted to office space. Here's an artist rendering before construction started.

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Barneyboy you are my hero...  Seriously I LOVE that stuff.  A portion of the ceiling from the taylor arcade is still intact and is being restored (on the prospect side, they're going to use it as the main entrance heading into the atrium)... it's all that's left.

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Has anyone toured the inside lately? I was there at the end of June and to be honest it wasn't as far along as I would have liked. I'm hoping that they're moving along on the inside pretty fast in order to get an occupancy permit on schedule. I'm thinking about making a trip to Cleveland in a few weeks just to see what's going on in there, but was wondering if maybe anyone here has seen it lately, so maybe I can forgo the trip.

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I was there a week ago, Euclid side is moving slowly in the inside than outside but as somebody else mentioned, they work a lot.

 

Prospect side should be ready for occupancy by August 15th for sure since I got an e-mail today for that move-in date.

 

By the way, the parking is $90 as you said, they said they told me a "range" about $85-90 at the beginning  :-D

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I was there a week ago, Euclid side is moving slowly in the inside than outside but as somebody else mentioned, they work a lot.

 

Prospect side should be ready for occupancy by August 15th for sure since I got an e-mail today for that move-in date.

 

By the way, the parking is $90 as you said, they said they told me a "range" about $85-90 at the beginning :-D

 

Oh, good. Have you received your lease yet? I have a move-in date of September 7, and haven't received mine yet.

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No, not yet. We'll be moving 2 people and my friend is out of the country right now.

 

But since we paid $100 fee to reserve the apartment and sent the security/background check papers, we are OK (and you should be too)

 

I am not worried about anything at all no, since this is K&D, they will make everything happen in some way!

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