The proposed development would include 130 acres of housing, retail, and entertainment spaces.
The city of Cleveland and real estate firm Bedrock, owned by Cleveland Cavaliers owner Dan Gilbert, have "announced a partnership with the goal of revamping the Cuyahoga riverfront near Tower City Center" that aims "to connect downtown residents and visitors to the riverfront with an approach focused on sustainability, equity, and accessibility." As reported by Brandon Simmons, Anna Meyer, Tyler Carey, "[r]enderings released by the company show enhanced pathways to the riverfront and transit-oriented development that follows the guidelines of the city's vision."
According to Bedrock CEO Kofi Bonner, the partnership "will inject the needed public and private funds to implement the first phase of the Vision for the Valley and unlock the tremendous potential of the Riverfront. The initial efforts will focus on replacing aging infrastructure with sustainable and resilient systems, providing for a more walkable, bikeable, and transit-friendly downtown." The improvements, says Bonner, "will set the stage for a dramatic new riverfront community with thousands of homes, businesses, entertainment, and community facilities and services."
The development is part of a plan to grow the city's population by 30,000 by 2030. According to Mayor Frank Jackson, partnerships like this can "create the kind of population and economic groundwork needed to help move our city forward." So far, there is no clear timeline for the project.
Phase 1 Revealed for $20 Billion Chicago Megaproject
Plans for One Central, a proposed megadevelopment that would add 22.3 million square feet of buildings to the city of Chicago, are taking shape.
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