As the former vice president of commercial development at Case Western Reserve University
, Russell Berusch has spent recent years developing the burgeoning Uptown
district into a lifestyle center that caters to both students and residents.
Now, as president of Berusch Development Partners
, Berusch is building an apartment building that uniquely caters to students at CWRU and the Cleveland Institute of Art
, 11611 Euclid Ave., will offer “smart suites for serious students,” says Berusch, who will lease the one-, two- and four- bedroom units to tenants by the bedroom, as opposed to leasing by the unit.
“The scale is small enough that it feels like a manageable community of residents, but on the other hand, it’s a large enough space to be a defendable place,” says Berusch.
Berusch bought the property from the owner of Mi Pueblo Mexican restaurant a number of years ago, and broke ground this past July on the new 39,000-square-foot, five floor building. Euclid 116 is scheduled to be completed by August 2017.
New Jersey-based Feinberg and Associates
served as the architect on the project, while American Preservation Builders
in Valley View is the general contractor.
Each of the 31 apartments with a total of 89 bedrooms will be completely furnished, and each bedroom will have its own lock. Roommates can lease a unit together, or Berusch will provide a roommate matching program. There are 14 four-bedroom units, 13 two-bedroom units and three one-bedroom units.
The distinctive aspect of this complex, says Berusch, is that all utilities – gas, electric, water, high-speed internet and cable – are included in the rent and the associated Foliot
furnishings are top-of-the-line. Every apartment will feature granite countertops and plank flooring as well as an inclusive array of energy efficient appliances.
“What’s unique about this particular project is it is at the East end of Uptown in University Circle, which is increasingly becoming a place people want to live in and shop at,” he says. “The rents are all-inclusive, we’re wrapping it all in and the furniture is luxury quality that will last for many decades.”
Rents start at $1,299 a month for a 591-square-foot one-bedroom unit; $1,025 per bedroom a month for a 737-square-foot, two-bedroom, one-bathroom suite; and $1,055 per bedroom per month for a 798-square-foot two-bedroom, two-bathroom unit. Four-bedroom suites range between 1,168 and 2,338 square feet and rent for between $925 and $950 per bedroom per month.
Berusch points out that each bedroom comes with a full sized bed, desk, chair and nightstand.
While Euclid 116 targets students, Berusch says he will rent to anyone who is interested. “We welcome all comers, but we’ve kept the vibe of students housing,” he says. “These are grown-up, adult quality family apartments. They’re not college dorms.”
In addition to the apartments, Berusch has leased 750 square feet of retail space to a tenants who will open an Asian restaurant featuring fresh and healthy dishes.
While Euclid 116 won't be ready for tenants until the beginning of the 2017-18 academic school year, Berusch says he has already received a number of lease applications and heard from even more interested parties.
Euclid 116 is hosting a grand opening through this Saturday, Nov. 19 at 11607 Euclid Ave., at the corner of Euclid Avenue and E. 115th
Street, where Berusch has set up a model suite and leasing office.
Berusch Development Partners is also developing the adjacent Euclid 115
as CIA student apartments.