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Luxury high rise in University Circle set to break ground in January


Construction is slated to begin in January on a 20-floor luxury apartment building at Euclid Avenue and Stokes Boulevard in University Circle. The new high rise would add another high-end residential option in this booming, popular community.

One University Circle, at 10730 Euclid Ave., should be ready for occupancy by January 2018. The 280-unit building will include 268 units averaging about 1,000 square feet, 12 additional penthouses, a four-story parking garage, outdoor grilling area, fitness room and yoga studio. The building also will have a café and market, business center and residents’ lounge.

Dimit Architects designed the building, which includes a window wall and terracotta panel system for the exterior of the building. All of the units will have floor-to-ceiling glass, and some of them will have balconies or patios.

University Circle Inc. president Chris Ronayne, who likens the project to similar apartment projects in New York’s Central Park and Chicago’s Millennium Park, envisions a diverse group of tenants, from academics and millennials to empty nesters. “You’re going to see a pretty diverse cross-section of people in One University Circle,” he predicts. “People who appreciate the amenities.” The building will offer easy access to the RTA HealthLine.

Ronayne adds that the rising demand for city living in Cleveland will contribute to One University Circle’s appeal.

It’s all about density when it comes to revitalizing any neighborhood, he comments. The residential component is just one factor. Retailers and public transportation are the other components that contribute to a thriving city.

“When you’re looking at 280 units on 1.3 acres, you’re looking at the density of a major city,” he explains. “You need that kind of density to create foot traffic, retailers, for public transportation. We want a complete neighborhood where in a 20-minute walk you can find everything you need. The Circle has become a complete neighborhood.”

A portion of the land at 10730 Euclid Ave. currently houses the Children’s Museum, which will be moving to the Stager-Beckwith mansion in Midtown.
 
First Interstate Properties and Petros Development are partnering with University Circle Inc. on the project. Panzica Construction will be the general contractor.

Read more articles by Karin Connelly Rice.

Karin Connelly Rice enjoys telling people's stories, whether it's a promising startup or a life's passion. Over the past 18 years she has reported on the local business community for publications such as Inside Business and Cleveland Magazine. She was editor of the Rocky River/Lakewood edition of In the Neighborhood and was a reporter and photographer for the Amherst News-Times. At Fresh Water she enjoys telling the stories of Clevelanders who are shaping and embracing the business and research climate in Cleveland.
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