Property Description

Exceptional Development Opportunity with Panoramic Lake & City Views Currently an 8,311 sq ft warehouse, this property offers outstanding potential for visionary development. Enjoy access to Edgewater Park, where you can relax on sandy beaches, explore scenic trails, and take in breathtaking Lake Erie sunsets?all just minutes from your doorstep. A renowned architect has proposed an innovative concept: constructing twin towers, each with six spacious 2,000 sq ft units (totaling 12 luxury residences), all elevated above a first-floor garage. The design envisions a shared common area bridging the two buildings, fostering community and maximizing the spectacular vistas. From the second floor up, every unit would enjoy sweeping, unobstructed views of Lake Erie and the Cleveland skyline?an amenity that promises instant value and lasting appeal. At a projected value of $400 per sq ft, this development could realize nearly $9.6MM in finished value, making the $2MM land cost an attractive 20% of the total. Comparable to the acclaimed 'The Raye in Shaker Heights, this site is primed for an iconic project?or let your imagination shape the future here. Unlock the potential of this rare site and create a landmark development with unmatched views and value.

Property Features

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