Cleveland Lakefront Development
In 2014, Mayor Jackson selected a joint venture of Trammell Crow Company and Cumberland Development, LLC to be the developer of the North Coast Harbor.
The plan creates a vibrant mixed-use neighborhood. The project will add over 1,000 apartments and 80,000 SF of office and 50,000 SF of retail space to the city’s central business district. The neighborhood will also have a high quality school to attract young professionals who want to stay in the city to raise their families.
The development has been approved by Cleveland City Council for the 20+ acre site, situated around North Coast Harbor and north of the Cleveland Browns’ stadium. The area formerly comprised docks for the Cleveland-Cuyahoga County Port Authority.
Real-estate-industry officials in Cleveland are optimistic about the project, noting an increasing residential demand in the city, which continues to attract a young workforce and others interested in a more urban lifestyle. According to a spring 2014 report published by the Downtown Cleveland Alliance, the downtown Cleveland population has risen by 88% since 2000, to more than 12,500. On top of that, since 2011, more than 30% of the city’s Class C office space has been converted for residential or hotel use.
The project’s developers hope to break ground in early 2015.