Wednesday, May 15, 2019

Gordon Park lakefront housing - the sequel

Conceptual renderings show the Shoreline Phase II at East 55th
Street and Interstate 90 would offer views of Lake Erie from
seven sides of its northern frontage. But the building would be
too short to see the downtown Cleveland skyline over its five-
story Phase I next-door neighbor to the west (Vocon).
The Gordon Park area on the East Side isn't to be confused with the Gordon Square area on the West Side. Gordon Square is a populous, fast-growing, historic neighborhood. But the lakefront lands along and near Gordon Park could soon add "fast-growing" to its descriptions too, as first reported in a February NEOtrans article.

Now, there's more happening -- a 212-unit, five-story apartment building called The Shoreline Phase II is proposed to be built at 5455 North Marginal Road, according to documents filed with the Cleveland Planning Commission. The four-acre site is on the northwest quadrant of the Interstate 90-East 55th Street interchange. It is located next to the 167-unit The Shoreline apartment building, currently the only housing in the Gordon Park area.

The four-acre patch of grass outlined in red shows the proposed
location of an investor partnership's planned, 212-unit apart-
ment building, just east of downtown Cleveland (Vocon).
The Shoreline Phase II represents an investment of approximately $30 million by a group of investors led by the property's owner Quay 55 East Limited Partnership. An exact investment amount isn't yet known. Mark Coffin, whose name is listed prominently on public records associated with the property and the partnership, has yet to return a phone call seeking more information.

Coffin's firm developed The Shoreline on six acres next door in 2002, back when it was called Quay 55 and had only 138 apartments. This five-story apartment building was originally the four-story Nicholson Terminal building, once a warehouse that received new cars from Detroit by ship. But Coffin defaulted on a $20 million U.S. Department of Housing and Urban Development-guaranteed loan.

The five-story Shoreline Phase II western face, as it would
appear to the existing residents of The Shoreline Phase I,
from across an expanded parking lot (Vocon).
The property went through several owners until 2017 when Landmark Lakeshore LLC bought Quay 55, renamed it The Shoreline, and got approval to add 29 apartments to the property by converting indoor parking spaces to housing. That 2018 development represented a new spark of developer interest in the area, fueled by the quick leasing of the added units.

The partnership's 144,016-square-foot second phase includes 160 one-bedroom apartments, 32 studio apartments, and 20 two-bedroom apartments, as well as a new pool and poolhouse to be shared with The Shoreline Phase I. Phase II will add 322 outdoor surface parking spaces and 95 indoor spaces. In Phase I are 63 indoor and 67 outdoor parking spaces. Total parking is proposed to be 561 spaces, planning documents show.

Site plan and parking plan for The Shoreline Phase II shows
the location of a total of 561 existing and planned parking
spaces, as well as the location of the new pool and a new
poolhouse for residents of both phases (Vocon).
It is the second large housing development to be planned within walking distance of Gordon Park this year.

On Feb. 15, B.R. Knez Construction, Inc., DBA Knez Homes, presented conceptual plans to the City Planning Commission to get its feedback before proceeding with more detailed designs for a mixed-use development.

Commission members urged Bo Knez, president and CEO of Knez Homes, to reduce the density of his proposed plan and improve connectivity with "nearby amenities," according to planning staff feedback. The site is at 5700 South Marginal Rd. with two parcels of city-owned land totaling 3.9 acres. In urban development, that is a large canvas.

Knez's concept for a mixed-use development at Interstate 90
and East 55th were not warmly received by the City Planning
Commission which urged Knez to reduce the proposed density
and improve connectivity with nearby amenities (RSA).
On it, Knez says he plans 50-60 townhomes, 90-100 apartments and 8,000 square feet of ground-floor commercial space on the Shoreway side for retail, restaurants or offices. Townhouses would be above the commercial spaces, he said in a phone interview.

Knez, who is a very active developer in Greater Cleveland and especially in the urban core, was born in Slovenia and raised in the East 55th-St. Clair Avenue neighborhood. He said he has wanted to develop near his old neighborhood for some time but the market wasn't right. Now, the market for housing in the Gordon Park area is obviously improving.


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