lofts at rosetta will be first new downtown apartment building to come online in 2013

Wannabe downtown Cleveland residents who are on waiting lists for the hottest apartment buildings can expect some relief soon. MRN Ltd. plans to open the Lofts at Rosetta Center, an 85-unit building at 629 Euclid Avenue, within just a few short months.

The units, which start at $715 per month for a studio and climb to $1,600 for a spacious two bedroom, began pre-leasing on January 15. MRN already has accepted deposits on several units, and the first residents are expected to move in around March 29.

During a recent preview tour with Leasing Manager Tammy Oliver, Fresh Water observed drywalled units with sleek white kitchens, open loft-style living spaces, walk-in closets and large windows offering views of Euclid Avenue and Lake Erie. The building also has an on-site fitness center and game room, laundry available on every floor, and a tucked-away breakfast and lunch spot called Sammy's.

"We used Stanley Saitowitz, a San Francisco architect with Natoma Architects, who also designed the units in our Uptown project," explains Oliver. "It's a historic renovation project with super modern interiors and really efficient living spaces."

Indeed, the sales pitch holds true. There's little wasted space in these units, which feel roomy even when the square footage says otherwise. The lack of interior hallways and the presence of big, beautiful windows add to the airy, light-flooded feel.

In addition to studios, one bedrooms and two bedrooms, the building also contains loft-style units with semi-open bedrooms (a floor-to-ceiling wall offers separation).

The most heartening trend Oliver has seen is that prospective tenants are coming from outside of downtown, not MRN's other buildings. She's received calls from apartment-seekers from Chagrin Falls, Strongsville, Columbus and other cities.

"We were a little afraid of doing the downtown shuffle, where our residents move to a newer building," she says. "But we're not poaching from other buildings."

Opening new buildings should also make the market more competitive. "The rents were being raised on existing stock faster than the Cleveland employment market could keep up," she says. "We want to offer units students can afford without breaking the bank, and give professionals options so they can move up."

Interested in checking out the latest in downtown living? MRN and Downtown Cleveland Alliance are hosting an open house on Tuesday, Feb. 5 from 5-7 p.m. (NOTE: This event is now sold out, according to the event organizers.)

Source: Tammy Oliver
Writer: Lee Chilcote
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