Mavrek Development, a Chicago real estate developer, has purchased the SASS Automotive & Wrecking Co. property at 2487 W. 25th St. near the West Side Market, and it plans to develop an apartment building on the site.
If your first thought is, "What site is that?," you wouldn't be alone.
While SASS has a street-level address, the bulk of the nearly acre site is several feet lower and currently serving as a repository for junked cars. The site's size is clearer from the West 20th Street side, which dead-ends nearby.
That Mavrek, through Treo Development LLC, paid $1.3 million to the seller, a local investor group named Cle Vue LLC, is the other break from Cleveland development past. It reflects the run-up of Ohio City and Tremont land values: The site carried a fair market value of just $330,000 for property tax purposes.
A developer buying such a site is not typical of Northeast Ohio development in the past, especially when there are parking lots aplenty downtown crying out for redevelopment.
Alex Pesta, planning principal at City Architecture of Cleveland, said in an interview that it is a switch for real estate developers to tackle such constrained sites with topographical challenges in Cleveland.
"On Cleveland's West Side, this is what's available now," Pesta said. "In other cities with population growth, it's just another site for development. It shows how developers want to be on an established development track rather than being on the cutting edge. Five years ago, you would not have thought of this as a possible site in Cleveland. But look what's been developed the past few years."
Recent West Side projects include the Intro project, rising on a former shopping plaza across the street from the West Side Market and separated from the SASS site for the most part by below-grade railroad tracks; the Dexter on Franklin Circle; the Quarter at West 25th and Detroit Avenue; and four other apartment buildings on lower Detroit. And that's not including conversions of old commercial buildings to apartments along West 25th both north and south of the homes of craft brewers such as Great Lakes Brewing Co., Market Garden Brewery and others.
Even more on point, look at other recent sites. Stoneleigh Development of Chicago is planning to start constructing an apartment complex on land facing Lorain Avenue that stretches down the slope to Columbus Road. And Electric Gardens is going in on Literary Road in Cleveland on a site formerly owned by the railroad.
Mavrek was prepared to go to city planning panels for review last month but pulled them back for revision.
Khalid Hawthorne, housing and economic development director for Tremont West Development Corp., said he expects to see updated plans from Mavrek within weeks. Since the project is in flux, he declined to discuss it in detail. He said the site can accommodate a project of perhaps 200 suites and would be the four- or five-story height typical of many recent apartment developments.
Although Mavrek is based in Chicago, it has a strong Cleveland connection. One of Mavrek's founding principals is Robert E. Krueger III, who also serves as president of Cleveland-based Krueger Construction Group, which is led by his father.
Calls to Krueger in Cleveland and Chicago were returned by Mavrek acquisition and development manager Adam Friedberg. He declined to discuss the company's plans until mid-December because they are under substantial revision. He also declined to say how many units or how tall the company's proposed project might be.
However, photos of the proposed development site under the name Treo Cleveland are posted on Krueger Group's website as a joint venture of Krueger and Mavrek.
City Architecture's Pesta said it's a distinctly West Side phenomenon. He said he's not seeing such secondary sites being viewed for redevelopment on the city's East Side, which he partially blames on systemic racism and long-held planning practices.
"This shows the value that has been created by the vision of local development corporations in Ohio City, Tremont and Detroit-Shoreway, who worked for years to foster local development," Pesta said. He noted it's the same kind of role that East Side LDCs such as Burton Bell Carr Development and Famicos are working to foster development. The plethora of projects on the East Side are the first brush strokes of that picture.
Pesta noted that the use of a site such as Treo's can result from years of planning initiatives in an area, but it's likely too granular to expect planning to produce them. Instead, that's what developers find as they pursue sites close to areas with proven leasing and rent rolls that lenders may fund.
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December 06, 2020 at 04:00PM
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Chicago developer has apartments planned for West 25th Street site - Crain's Cleveland Business
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