Monday, September 20, 2021

Flats East Bank plans reveal $84 million project

Plans were shared with NEOtrans today for Kenect Cleveland, the
proposed next phase of development of downtown Cleveland's Flats
East Bank. This conceptual rendering by Goettsch Partners for de-
veloper Akara Partners, both of Chicago, shows a wide-angled view
looking generally east from the intersection of Front Street on the
left and West 11th Street on the right. Currently occupying the site
is a 173-space, 2.45-acre surface parking lot (GP).

The next phase of development at Flats East Bank has undergone some refining in the last couple of years as the pandemic and technological advances have affected the real estate market. Although the plan was always to build a mixed-use but residential-focused structure, this next phase (dubbed by some as Phase 3B), has been pruned somewhat.

With an early construction cost estimate of $84.4 million and a project size of 213,376 square feet, Kenect Cleveland is still a significant project. The seven-story building is proposed to have 229 market-rate apartments above three levels of parking with 229 spaces, plus 10,000 square feet of ground-floor retail and a leasing office of 5,000 square feet.


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