Cleveland Heights spends millions to lure condos that won’t appear

lemon.jpg
Cleveland Heights spent millions on The Terraces, a shopping/condo complex pictured above.
With all the hand-wringing about the real estate slump, one particularly depressing tale in Cleveland Heights bears extra mention. Over the past few years, the city has invested millions of dollars in The Terraces, a complex of shops and 48 condos that was supposed to be built on Lee Road at Meadowbrook. Taxpayers footed the bill to buy the land, clean up pollution, and build a $6.2 million public parking garage near the Cedar Lee Theatre. That was the public end of the deal—and the government upheld its end of the bargain. It was the private company that fell through. Cincinnati developer Al. Neyer, Inc. recently dropped the project after not selling enough condos to even begin construction. Now, the people of Cleveland Heights are left with just a parking garage, mocking them with its gaping newness and the absence of shoppers to fill it. –Lisa Rab

About The Author

Scroll to read more Cleveland News articles
Join the Cleveland Scene Press Club

Local journalism is information. Information is power. And we believe everyone deserves access to accurate independent coverage of their community and state.
Help us keep this coverage going with a one-time donation or an ongoing membership pledge.

Newsletters

Join Cleveland Scene Newsletters

Subscribe now to get the latest news delivered right to your inbox.