CLEVELAND - A condominium project, tabled when the economy soured a few years ago, is set to become Ohio City’s newest apartment complex.
Mariner’s Watch, a mix of one and two-bedroom units, will rise from the rubble of a former marine supply unit on Detroit Avenue near West 32nd Street.
“We’ve seen incredible demand for our commercial (space); we’re starting to see incredible demand for our residential,” said Tom McNair, director of economic development and planning for Ohio City Incorporated.
McNair added over the last few years the area commercial vacancy rate has dropped from 34 percent to 3 percent. That growth has made the area attractive especially to a younger group of would-be residents.
McNair said Crescendo Realty’s apartment project, led by developer Brian Koch, will not have any retail space in an effort to continue support for the existing retail in and around the West Side Market.
Mariner’s Watch will have 62 units with underground parking. A limited amount of penthouses suites will sit atop the four-story building.
Looking across Detroit Avenue from the site, views of Lake Erie and the Shoreway can be seen.
“You can see the views of Lake Erie over here, that’s something we think can help attract people to the area,” he said.
McNair pointed out the walkability of the area with Gordon Square and downtown just blocks from the new construction.
Construction is set to begin in September with occupancy scheduled to start in spring 2014.
Ohio City Incorporated wants to protect the integrity of the area’s single family and historic homes. McNair said this type of project, on a one acre site, will be a model for other Ohio City projects that build along a corridor without damaging nearby homes.
Rent for a one-bedroom unit will begin near $900.
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