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More student housing near Cleveland State University

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Project on Prospect Avenue to add 52 units and a renovated retail spaceGoogle

Two commercial buildings on Prospect Avenue are due to be transferred to a new ownership group that plans to renovate each with apartments for students at nearby Cleveland State University.

A group of local investors is seeking to develop two historic commercial buildings near Cleveland State University (CSU) with student housing. However, ground-floor commercial spaces will be retained, including one for an existing tenant, the Cuyahoga County Veterans Service Commission.

To be called Innovation Landing and located across the street from CSU’s Bert L. and Iris S. Wolstein Center at 1835-1849 Prospect Ave., the project awaits a property transfer that’s due to close Nov. 30. Terry Poltorek, who has owned both buildings either solo or in partnership with others since 2013, is selling the properties to the new group organized as Innovation Landing LLC.

One of the members of the new group is Tom Charek, president of Welty Development Co. of Akron. He was reluctant to name the other owners at this time. But some of the non-ownership partners are not a secret as they are prominently displayed in filings attached to a building permit application submitted earlier this week to Cleveland’s Building and Housing Department.

“It’s a collaboration of local partners and we’re excited to have Fiorilli Construction as the GC (general contractor),” Charek said. “K2M Design is a great design firm for this project also.”
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The proximity of Cleveland State University to 1835 Prospect, and 1849 Prospect Ave., center, is evident in this view from the parking lotGoogle

Redevelopment of the two buildings with apartments, resident amenities and ground-floor retail space is projected to cost about $5.9 million, according to the permit application submitted to the city. Scott Maloney, president of K2M Design, said no zoning variances are required for the work to begin. Renovations for Innovation Landing are projected to take about six months, he added.

The west building, 1835 Prospect, is two stories tall, has a terra cotta façade and was built in 1924. The east building, 1849 Prospect, is three stories tall, has a brick and sandstone façade and was built in 1923. As the larger building, 1849 Prospect’s 36,907 square feet does not include the 13,529-square-foot basement with room for up to 36 parking spaces for residents. The parking is accessed from behind via the one-way alley Swingos Court which is lower in elevation than Prospect.

In 1835 Prospect, the first-floor commercial space will remain unchanged. But since the Gateway Church in 1849 Prospect is no longer there, the project’s partners said it offers some opportunities to attract a new commercial tenant to capitalize on the proximity of CSU and the Wolstein Center arena.

“(The) Cuyahoga County Veterans Service Commission has several years remaining on its lease,” Maloney said. “Gateway Church is no longer a tenant; that space is slated for redevelopment into a cool retail-type space.”

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