Scope of planned Flats development grows

Posted by The Lohser Group Cleveland on Tuesday, October 30th, 2007 at 8:47am.

By JAY MILLER 2:20 pm, October 16, 2007 Crain's Business Cleveland

The developers of the proposed Flats East Bank mixed-use project today unveiled updated plans that highlight the prospect of additional office and residential space. Adam Fishman, a principal of Fairmount Properties LLC, which is partnering with the Wolstein Group on the riverfront project, said during Tuesday morning’s Cleveland-Cuyahoga County Port Authority board meeting that the project now might include two, 400,000-square-foot office buildings instead of one and that the number of housing units planned for the project has risen to between 500 and 600 from 350 as more units are planned for mid-rise buildings than for townhouses. “People want office (space),” Mr. Fishman said of early conversations with potential tenants. “We have been pleasantly surprised.” With the additional office and housing plans, the Flats project has become a $400 million plan rather than a $230 million plan, Mr. Fishman said.

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