Cleveland, OH

MidTown seeks partner for ambitious Euclid-East 55th rebirth

NEOtrans

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The intersection of Euclid Avenue and East 55th Street was one of Cleveland’s most densely developed urban nodes.MTC

Goal is to add up to 1 million square feet

The intersection of Euclid Avenue and East 55th Street was one of Cleveland’s most densely developed urban nodes. That is, until post-war urban sprawl, white flight and deindustrialization drained the city of more than half of its population. MidTown Cleveland Inc. is undertaking an effort to help reverse that trend and re-energize this once-vibrant urban node.

MidTown Cleveland Inc. wants to restore much of the density and vibrancy at what was once among the city’s most important intersections. It is requesting a development partner to help it achieve that goal.

Its ultimate development goal is to construct at Euclid Avenue and East 55th Street up to 1 million square feet of new mixed-use space — residential, retail, lodging and offices/labs for research, start-up firms and established employers. MidTown Cleveland says it will be developed with its newly adopted Neighborhood Vision Plan in mind to maximize employment and/or residential density, create a sense of place while honoring, valuing and connecting the neighborhood to its surroundings.

The Euclid-East 55th effort intends to move forward quickly with responses to a request for qualifications (RFQ) due by Dec. 8. MidTown Cleveland officials say the market demand exists to realize this ambitious vision, pointing to efforts already under way involving another development partnership.

That development partner, Wexford Science & Technology, LLC of Baltimore, reportedly intends to break ground in 2022 for a five-story, 150,000-square-foot office building and multilevel parking deck at the northwest corner of Euclid Avenue and East 66th Street.

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https://neo-trans.blog/2021/11/02/midtown-seeks-partner-for-ambitious-euclid-east-55th-rebirth/

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