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CLEVELAND, Ohio – Developer Robert Stark wowed the city's planning commission Friday morning, easily winning unanimous conceptual approval for a proposed, $250-million to $350-million development he calls nuCLEus that could transform a moribund part of downtown near the Gateway sports complex. The commission voted 6-0 to approve Stark's early diagrammatic plan and a proposal for tax increment financing in which the city would allow the non-school portion of increased real estate tax revenue from the project to help finance project debt.
The nuCLEus project - whose name is a play on the idea of the central role it intends to play downtown - would be located primarily on two blocks sandwiched by Prospect Avenue and Huron Road, just north of the Q and east of East 4th Street. It would encompass 120,000 to 140,000 square feet of retail, a 150- to 200-room hotel, 200,000 square feet of office space, 500 residential units and 1,500 to 1,600 parking spaces in garage levels stacked above street-level restaurants and stores.
More at:
http://www.cleveland.com/architectur...leus_proj.html
CLEVELAND | nuCLEus | 354 & 311 FT | 24 & 24 FLOORS
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