The Observation Deck

I saw this Press Release today and it's worth posting:

ROSEWOOD PLACE DECLARES SUCCESS

Rosewood Place, the newest mixed-use development project in Lakewood, Ohio has succeeded in reaching one hundred percent occupancy levels in its retail and office space, despite the harsh real estate conditions that currently exist in Northeast Ohio. After only two months of being open, Rosewood Place has added seven new commercial tenants to its once vacant space.

Rosewood Place will impact the local economy by increasing the tax base and the total tax revenues generated from the project site to both the City and the Lakewood Public Schools. Out of twenty-four residential units available, currently, only eight remain. "Over the course of one year, Rosewood Place has added over 42 local jobs and contributed over six million dollars to the local economy through construction labor and materials," stated Tom Barrett, Rosewood developer.

New tenants to Rosewood Place include: the United States Government, Amendola Engineering, Curves, Cleveland Adjusting, Habitat Appraisals, Erie Insurance and Karaly Psychotherapy.

"We are thrilled with the success of Rosewood Place especially in these tough economic times," stated Mayor Thomas J. George. "Mixed use development is a critical component to attain Lakewood's competitive edge by providing new housing and retail opportunities. Rosewood Place is a wonderful example of a successful mixed-use development project."

Rosewood Place is a 56,000 sq. ft. mixed-use development consisting of retail, office, lofts plus eleven brand new town homes for sale. Rosewood Place is owned and managed by North Coast Capital Partners, LLC, a real estate management and development company. More information about Rosewood Place is available at http://www.rosewoodplace.com. The Rosewood Place Sales Office is open Monday through Friday from 9:00 a.m. to 5:00 p.m. and Saturday and Sunday from 1:00 p.m. to 4:00 p.m. for tours.

What, no coffee shoppe? No check cashing or payroll advance? No temp services or resale joints?

Geez....without any of those, how could this possibly be considered a success?

Jeff

dl meckes wrote:New tenants to Rosewood Place include: the United States Government, Amendola Engineering, Curves, Cleveland Adjusting, Habitat Appraisals, Erie Insurance and Karaly Psychotherapy.

Do they have to be every ware. I can not wait to see what inept agency they put in there. Maybe the Department of Homeland Coercion... oh sorry I meant Security.

In all seriousness good for them. Could this be the start of what needs to happen along Detroit Rd. I am not a huge fan these kinds of developments but it seemed to work well in this case. Only time will tell.

I hate to be negative here, but aren't at least 3 of those businesses leaving older buildings in Lakewood and creating empty store fronts and office space in less desirable buildings?

I am glad that Rosewood filled up, but what businesses are going to fill in the gaps? It would be great to see more businesses coming in or starting here rather than just moving around.

There may be some more interesting news coming down the road. I wouldn't put the negative cap on just yet.

The government tenant is the recruiting office and yes, they are moving from one location to another, but they are also consolidating and growing from other locations, so they have outgrown their space.

Curves is also moving.

I'm not sure the former spaces are necessarily undesirable, they may simply be too small, or about to undergo some changes.

I need to correct my number of 3 to 5. I didn't realize curves and the government offices were also currently in Lakewood. So 5 (or more) out of 7 are moving from an older location in Lakewood to the newer location.

Don't we have enough vacant office space in these older buildings?

Any candidates or private organizations have any plans to help promote the city to new businesses?

Ryan--- The motives for your taking off the gloss of success that Mr. Barrett and his associates so richly deserve is pretty transparent. The only way, apparently, that you and your political fellow travelers think that you can succeed is by trashing Lakewood successes in hopes that people will transfer your discontent onto the current administration.
What you inadvertently fail to realize is that what you point out, internal Lakewood business moves, points out a remarkable economic dynamic within Lakewood. Businesses and homeowners choose to move within the city instead of moving out.
One thing that Mr. Barrett and others who have invested and risked capital will tell you is that investment capital seeks a safe and secure environment which offers a reasonable prospect of profit.
This city government and administration have put in place the policies and practices which provide that environment.
The recent building boom and prospects for more belay your desperate attempts at political advantage at the expense of the future success of Lakewood.
Stan Austin

Stan

I have no political motive in pointing out that we have a ton of empty storefronts and now we have more. It is great that these businesses stayed in Lakewood and I think the building is great, but should we forget about all the investments people have made in buildings that aren't so new?

In with the new and out with the old?

Imagine how many empty storefronts there would be if the west end project had passed. Every existing business not in a long term lease would have up and moved to it, for good reason! New development is great but at what expense?

wow, haven't heard the term "fellow travelers" since the Red Scare days ... what a blast from the past.

I guess some polemics never go out of style.

I do love the modern one though ... with "red state" meaning a conservative-leaning Republican-dominated state. And just to think, barely a generation ago, it meant a Marxist state, where the government dominated everything and there were few freedoms ... hmmm, better not go there, since there's parallels for today.

But does that mean we can call conservatives "reds" or even ... gasp! ... "Pinkos!" (and it's also interesting that red is the highest state of terrorist alert to Homeland Security ... and blue is the lowest)

What about the Blue State folks? Since many people equate Democrats with Communists (which is utterly laughable, though one should never laugh at the ignorant) ... are they "Blueys?" Or since a "pinko" was nearly a "red," is there a lighter shade of blue that someone who seems fairly liberal could be called? I dunno, I can't think of that many shades of blue that don't have the word "blue" in them ... maybe someone who's leaning a bit towards Democrats, but isn't entirely "blue" could be an "aquamarine?"

Stan Austin wrote: The only way, apparently, that you and your political fellow travelers think that you can succeed is by trashing Lakewood successes in hopes that people will transfer your discontent onto the current administration.

Every silver lining has a cloud.

Rosewood is an unqualified success. They have only 8 residential units left and have fully rented their retail space. In this dismal housing market their accomplishment is stunning.

The Rosewood project has demonstrated that there is a desire for well planned quality housing along Detroit.

The new Library and the new YMCA and Rosewood have created the foundation for extensive development along Detroit. If only the Beck would commit to the City and tear down its current eye sore....

As to the future:

If designed correctly the new Kaufman Park development has the potential to reinvigorate the business and housing climate in the entire City. I hope the developers realize how important it is to get it right.

As to those building owners who aren't sharing in the new building boom: Open your wallets and do something about parking and your outdate buildings.

What about that other development project on the East side of Detroit? They seem to have leveled that one lot a half dozen times but nothing goes in there. Any people buying up the spots?