Dru Siley to Talk About Millions in Development

[Bridget Conant]

Might be interesting. Anyone planning to attend?

http://lakewoodchamber.org/may-luncheon-meeting-2/

[Lori Allen _]

Anyone know whether or not Mr. Siley will be introducing his, the mayor's and council's new hip area in Lakewood to live? It is just off of Madison and will be named Summer's Gangland.

[T Peppard]

Just registered... this should be interesting!

[Bridget Conant]

T Peppard

Yes, interesting, to say the least. Perhaps Dru will reveal the national developers lining up to work their magic at Belle and Detroit? I mean, Summers insisted "national developers" were interested in that parcel.

Or maybe he will just rely on the citizens that were taught to "think like developers!"

[Lori Allen _]

Or maybe it will be called "Vapeland".

A couple of vape shops, a couple of bars, and a LycaMobile phone store so you can call your drug lord directly in Colombia!

While all this is going on, everyone can draw graffiti on the new buildings!

[Lori Allen _]

It is recommended that those planning on attending the meeting should bring their pennies and can of Copper - Glo !
This will help you to be able to join in on the good feeling!

[Peter Grossetti]

I hope someone who attends will report back via The Deck.

[Marguerite Harkness]

Update on Dru Siley talk at Lakewood Chamber 5/20/2016:

Dru gave lots of demographics, rather than projects they're doing.

Hospital: He really believes that building townhomes (McKinley and Rockport) and redeveloping 6 acres of hospital as multiuse, will give a big payoff eventually for the city. He DID say McKinley townhomes have NO tax abatement (one of my concerns).

They are just plowing ahead with the Family Health Center; none of them have a concept that a hospital AND a family health center, together, would be even better.

He showed the rough pencil drawing of the FHC which they are working on. Real plain, looks like all glass, with a covered driveup on Belle.

PREMIER PHYSICIANS bought the Berger Village (former Daniels Funeral Home) on Detroit/Brockley, to remodel as doctors' offices.

Economic impact: He thinks it's just 800 employees lost; and the $800,000 city income tax loss can be made up from the sale of Columbia, and income tax from folks moving into town from elsewhere.

Dru IGNORED my written statement which I submitted: "1100 folks are no longer buying lunch in Lakewood. This is $3 million sales lost annually, which is being shared by our restaurants." I talked to him afterward, and he was curt. He really doesn't get it, that $300 million of annual spending in Lakewood, is now gone.

CPA Bob Calsin is "optimistic" about Lakewood, doesn't believe my numbers about the loss we will experience by losing the hospital. Bob thinks "Summers is a nice guy." And "the people voted."

Gold Coast: Dru mentioned redevelopment of the Gold Coast (new developers coming in and want to change - or remodel - or tear down - he did not say which.)
Marine Towers still has no boilers.

Redundant churches: Christian Science Church on Detroit was bought by a company whose owner used to live on Arthur. They plan to attract 50 employees here with what a great community Lakewood is.

Trinity Lutheran Church is for sale; possible owners might be companies looking to use as offices.

Real estate sales: He says houses are selling fast, even by word of mouth. He said fewer than 50 homes are available now, and people are calling friends and asking if they know of any. (My comment: **Can anyone verify this, or counter it? I know houses that were for sale last year, and again this year, real nice houses, completely updated.**)

Some company built 2 new houses on Merl, by the tracks, and one of them sold for $463,000. (??!!??) Looks like any typical Lakewood side-street house with front porch, very nice of course. But $463K? (My question: Where are these buyers coming from??) (I had to check my notes: $463, yes that's what he said.)

Fastest-growing age group in Lakewood, is 19-34. They are renting, then buying.

Commercial building: 1,000 buildings. Businesses are renting in individual buildings, then buying the building and renovating it. This is good. (My comment: but look at poor areas, whole stretches of Madison, etc.)

Some numbers:
52.000 residents
28,000 are employed, but 85% of them work elsewhere
30,000 housing units
54% are rentals
3 miles of coastline, 3,000 feet of accessible lakefront
180 miles of sidewalks

Footnote: A guy from Patch, Rick something, his last name escapes me but it begins with "U" was sitting across from me. He said he used to work at the building department. I asked him why apartment buildings with missing plaster, exposed wires, etc. [per Lori's good photos on the deck] are not being inspected and repaired. They don't have enough employees; only 7 employees and some are dedicated plumbing or electrical.

2d Footnote: Lady (Nancy) next to me is Nature's Bin Exec. Director. Bin sales are down 15-20% since Whole Foods opened, and it's lasting longer than the Bin thought it would. But she does not believe rumors that developers are looking to take Nature's Bin property for redevelopment. She is skeptical. Their board is not at all like LHA's board, she said. I suggested she watch who they put on her board.

That's it, folks.

[Amy Martin]

It is true about the houses on Merl. We have seen them and yes, there are 2. One sold for mid $350's, the other over $400. Tax abated. Done by a flipping company, Relief Properties. Same thing on my street - the house is going for $329. I love my street, and Merl is great, but seriously? The inflated housing market is going to crumble down the road and it will be more for the already overburdened taxpayers of Lakewood to absorb. These tax abatements make me sick. As I've said before - if you can afford a $350,000 house, you certainly can afford to pay the taxes on it.

http://www.realtor.com/realestateandhom ... 6875-48163

[Bridget Conant]

Marguerite

Thanks for the synopsis. During the last election, the Mayor stated that "national" developers were interested in the 4 acre parcel that would be available after the hospital closed. Did Mr Siley happen to mention who they were or what they proposed?

[Valerie Molinski]

It is true about the houses on Merl. We have seen them and yes, there are 2. One sold for mid $350's, the other over $400. Tax abated. Done by a flipping company, Relief Properties. Same thing on my street - the house is going for $329. I love my street, and Merl is great, but seriously? The inflated housing market is going to crumble down the road and it will be more for the already overburdened taxpayers of Lakewood to absorb. These tax abatements make me sick. As I've said before - if you can afford a $350,000 house, you certainly can afford to pay the taxes on it.

http://www.realtor.com/realestateandhom ... 6875-48163

A rising tide floats all boats.

I don't get why people are hating on these residential properties that are getting built/rehabbed and sold. Some of them were empty or distressed and now they are gorgeous. People are living in them and ostensibly paying taxes. Some of the recent ones by development or investment groups, the 'flippers' have put a ton of work in them that wasn't just a slap of a paint job. This is real work like rebuilding foundations and ripping down to studs with all new mechanical and electrical. This stuff is not cheap.

I have spent the last few years watching most of my equity disappear and now it's back. This is great for everyone in Lakewood trying to get comps to either sell or take out money for improvements.

[Stan Austin]

I check in on Zillow every day just to keep a finger on the pulse of the housing market. And, the pics show some fabulous preservation, restoration, and rehabilitation some of the homes.
The asking prices are interesting,too. Generally the asking price makes sense. Occasionally, it seems like someone is really dreaming.

When I saw those houses on Merl priced at 300 -400 k I thought it was a typo.

All I can say is that it is ultimately the buyer's decision. If the buyer wants to spend that- it's his decision.

I do think that one of the things that makes Lakewood so unique is a constant interest in remodeling, updating etc. Going back to the 1960s and 70s some of it was schlock. Nowadays with the proliferation of "This Old House" shows on TV I think there is a much more highly sophisticated audience for such projects.

That having been said--- mow your lawn in the summer, shovel the snow in the winter and we're on the right track!

Stan

[Lori Allen _]

That having been said--- mow your lawn in the summer, shovel the snow in the winter and we're on the right track!Stan

Stan,

Agreed. Very simple things to do.

[T Peppard]

Here are a few things I took from the meeting:

1) The housing market is strong in Lakewood. If I heard Director Siley correctly, one of the primary driving forces is the 19-35 year olds that are moving in and buying homes. The same is true in Cleveland which continues to renovate and revive their beautiful old neighbors, i.e.. Ohio City & the Gordon Square district. This renovation continues to spread further and further West on Detroit. The millenials are not interested in moving to the outer suburbs. This trend is very good for all of us.

2) No plans were presented for the development of the 5.7 acre hospital site. I would have liked to hear that our City was planning to do their due diligence and seek another provider to operate our hospital. Maybe MERCY hospital systems or METRO? The most optimal use of that land is to maintain a hospital. This generates the most jobs with the highest average salary. It keeps doctors living in our City and most importantly, it allows the legacy of Dr. Graber & the mission of LHF to continue. I was curious to see if Director Siley had a better plan than that. He neglected to address the very good question of what happens when those 1300 employees no longer eat lunch in our city. This is more than just a $1M hole in income tax revenue, it will affect our small businesses.

3) I learned that New York life insurance will be moving out of Lakewood. Not only does this take away 350 jobs, it leaves a vacancy of two more floors in the Lakewood North building.

4) Lastly, the most revealing thing I learned was that Hospice of the Western Reserve is also leaving. They are moving to Fairview Park. They have served our City very well for many years. This is another big loss for our city and an absolute surprise to me.

[Michael Deneen]

'

The millenials are not interested in moving to the outer suburbs. This trend is very good for all of us.

1. It's true that Lakewood is hot at the moment. However, the notion that milennials are not interested in outer suburbs is fantasy. Dru's pals at the Cleveland Clinic expect long therm sustained growth in the outer suburbs.....that's why they stole our hospital and moved it there.
If the Clinic believed that the future was in Lakewood, they would have left the hospital here.
The NEO region has minimal or zero population growth. Cleveland proper, the inner ring suburbs, and the outer ring suburbs are all fighting for a share of the non-growing pie. They can't all grow......someone is going to get screwed. All evidence points to inner suburbs, especially Lakewood, getting the shaft.

2. The only solid plans out there are the rec center, which they now pretend was never an idea. There were architectural drawings, a financing plan, etc.

3 and 4. Yep, jobs are leaving. That's why the mayor is shifting the tax burden to property owners.