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| A two-phase, 72-unit development is planned on Lake Avenue near Cleveland’s Edge- water Park. A larger project was planned here previously but proved too expensive to construct. The city’s new form-based zoning may allow this project to proceed (Horton Harper). CLICK IMAGES TO ENLARGE THEM. |
Three years ago, a team led by Beachwood-based Property Advisors Group (PAG) planned to build a large residential development at 8400 Lake Ave., overlooking Edgewater Park in Cleveland’s Detroit-Shoreway neighborhood. But with construction costs and interest rates rising, the timing wasn’t right. While costs are still high, the city’s new form-based zoning code may make a scaled-down project achievable and in a timely manner.
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