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Monday, May 9, 2016

New Nautica Master Plan Calls for Hundreds of Apartment Units

Posted By on Mon, May 9, 2016 at 10:32 AM

click to enlarge GPD GROUP
Crain's reports this morning that Nautica developer Jeffrey Jacobs is rolling out a pretty grand plan for the entertainment district in the Flats. All told, the new development will roll another $400 million or so into the neighborhood.

As the rendering shows, the plan calls for several "towers" that will rise up with Jacobs Pavilion and the aquarium on one side and the Music Box Supper Club and Cleveland Improv on the other. Within that imposing complex: 664 apartment units, office space and a boutique hotel.

Jacobs told Crain's that the driving idea behind everything that's happening in the Flats is to build off the entertainment platform that's doing so well on the East Bank and continue the city's trend of bringing young people here to live and work. “Now young people are excited about living in the city. We will move to a live-work-play development. We’re excited to be able to complete the painting," he told the paper, flipping a nice little metaphor on the end there. (Jacobs also noted that his investments group will rename the Nautica Entertainment District as the "Nautica Waterfront District.")

At least one parking garage is slated to open in early 2017 — open for patrons of the aquarium or Nautica Queen, etc. — and the rest of the development phases will follow. 

It's all very interesting, now, to see the Flats evolve like this. There's a bit of a generational gap between this current boom and the district's heyday — both in the literal ages of customers and the goals of developers — and this new West Bank play from Jacobs' firm only further entrenches the idea that the Flats are becoming a force again.

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