Development Underperforms

[Bridget Conant]

University Square, a shopping complex in University Heights that was hailed as a rebirth of the area and a move forward for the city, has met the same fate as most other highly touted and pushed “development” projects that never quite seem to deliver what was promised to the taxpayers.

After 20 years, it’s being “redeveloped” and the city is even talking about using eminent domain to get what it, whoops, what the developer wants. They even are trying to declare the 20 year old project blighted!

council approved a motion to have CT Consulting perform a blight study to assess University Square’s status as a blighted property at a cost not to exceed $8,000.

The current mayor says:

“Since its original conception, and the original issuance of TIF (tax increment financing) bonds in 2001, University Square has spent most of its existence falling short of expectations,” Brennan said

https://www.cleveland.com/community/202 ... quare.html

When will we learn?

[cmager]

University Square, a shopping complex in University Heights that was hailed as a rebirth of the area and a move forward for the city, has met the same fate as most other highly touted and pushed “development” projects that never quite seem to deliver what was promised to the taxpayers. After 20 years, it’s being “redeveloped” and the city is even talking about using eminent domain to get what it, whoops, what the developer wants. They even are trying to declare the 20 year old project blighted!

council approved a motion to have CT Consulting perform a blight study to assess University Square’s status as a blighted property at a cost not to exceed $8,000.

The current mayor says:

“Since its original conception, and the original issuance of TIF (tax increment financing) bonds in 2001, University Square has spent most of its existence falling short of expectations,” Brennan said

https://www.cleveland.com/community/202 ... quare.html
When will we learn?

With politicians eager to create some legacy project and seeing $$ flash, we probably won't learn, at least until it is outlawed. Put Summers in charge of dismantling it piece-by-piece, transport it to Lakewood, and reassemble it, thus fulfilling the vision of what is now Lake Summers.