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With unprecedented, exponential growth re-shaping the city center of CLEVELAND, residential and property management companies are converting vacant skyscrapers and former office buildings into luxury, market rate apartments and condos.
Downtown Cleveland's residential occupancy rate is at 97% - with waiting lists for existing properties that are years long.
Sadly while the population is going crazy with increases with residential (both redos and new contrction, commercial space is flat to down slightly)
U City is adding a few million in commercial space but not so much in Center City sadly, even a new VC firm moving to the city opted for U City 12 blocks west of center city (while not a bad thing the city needs more jobs in CC)
The conversions are not bad on the whole and find re use for what may not be commercially viable space but the balance may be currently shifting to too much residential in Philly, the city needs to fix the awful tax issues that face companies trying to relocate.
Even the empty lot on 19th and Market is going to be mostly residential (maybe 10 floors of commercial and 5 or so of retail)
I dunno why office buildings conversions downtown are considered a good thing for cities. It means the jobs are going elsewhere and in some ways the center city is becoming less important, as there's more of an advantage of businesses clustering than people, so the normally offices should be able to outbid residential.
I dunno why office buildings conversions downtown are considered a good thing for cities. It means the jobs are going elsewhere and in some ways the center city is becoming less important, as there's more of an advantage of businesses clustering than people, so the normally offices should be able to outbid residential.
I mostly agree. While mixed use and residential is a good thing so long as the commercial sector continues to grow (at least proportionally). I also think some re use applications of older buildings not as conducive in todays market may be a good use and also preserve good architecture (see the second google map link in my above post). A conversion of a building like Liberty 2 in the long run is probably not the best use. Though selling a condo for 14 million I guess has some advantages. I do agree on the whole and see this as a long run problem in Philly unless the commercial segments gorws portionally (which it is not currently as sq footage is down from 20 years ago slightly)
Oddly the suburbanesque office complex being built in the Navy yard is poaching center city jobs. People living in a very urban dowtown and taking the subway to a suburban esque office park. Seems odd (not that the redevelopment of the Navy yard is a bad thing but at the behest of core jobs, yes)
Memphis has had a surge of commercial to residential buildings Downtown for the last two decades. Many cool loft and warehouse conversions seemed to be beyond rehab years ago, but made the change while keeping the eclectic feel very well. The latest start is the long overdue conversion of the Chisca Hotel which was given to a church headquartered in the city free of charge, then irresponsibly neglected for many years, creating an eyesore in a visable tourist area. This was the location of WHBQ Studios where Elvis's first commercial hit was debuted, and those studios will be refurbished and set aside for visitors to tour.
I mostly agree. While mixed use and residential is a good thing so long as the commercial sector continues to grow (at least proportionally). I also think some re use applications of older buildings not as conducive in todays market may be a good use and also preserve good architecture (see the second google map link in my above post). A conversion of a building like Liberty 2 in the long run is probably not the best use. Though selling a condo for 14 million I guess has some advantages. I do agree on the whole and see this as a long run problem in Philly unless the commercial segments gorws portionally (which it is not currently as sq footage is down from 20 years ago slightly)
Oddly the suburbanesque office complex being built in the Navy yard is poaching center city jobs. People living in a very urban dowtown and taking the subway to a suburban esque office park. Seems odd (not that the redevelopment of the Navy yard is a bad thing but at the behest of core jobs, yes)
City was founding to have another office district, but they got condos... The tallest old skyscraper in Brooklyn (Williamsburgh Savings Tower) got converted into a condo tower.
Taking a subway to an suburban office park is rare, most often people drive, because the train stop is too far. White Plains and Stamford have some train to suburban office districts, but they're not normal office parks. I can't think of too many others. A downtown job is accessible by transit for most city and many suburb residents, an outer city or suburb even if the transit is walking distance might only useful for those living downtown or on that line because of cumbersome transfers.
Add another historic building in downtown CLEVELAND to the growing list of apartment conversions ...
The former "Halle's Department Store" located at Playhouse Square - forever immortalized on t.v. as the offices of Drew Carey in the "Drew Carey Show" is now slated for possible renovations as market rate, upscale apartments.
The demand is certainly there - Downtown Cleveland is booming, with residential occupancy levels at 98%
Last edited by JohnDBaumgardner; 08-18-2012 at 10:48 AM..
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