Monday, June 25, 2018

CBRE is Marketing the Scranton Peninsula as 'Thunderbird,' a Bespoke Cleveland Neighborhood

Posted By on Mon, Jun 25, 2018 at 12:34 PM

The real estate firm CBRE is marketing the western portion of the now-vacant Scranton Peninsula as "Thunderbird," a brand-new mixed-use neighborhood "in the heart of a reemerging American city."

As PD real estate reporter Michelle Jarboe notes, the renderings in the PDF below are extremely early and "very conceptual," and the entire development — envisioned as a "small, compact and walkable community" — is for the moment purely aspirational. But acreage is indeed available for lease or sale.

Thunderbird, CBRE says in its lit, "will be designed with both the honest and self-evident character embedded in the city as well as a thoughtful overlay of
placemaking that looks beyond Cleveland today and towards a bright future."

We're not quite sure what that means, but the proximity to downtown, the Flats, Ohio City and Tremont should make for commanding residential options, if developed. Earlier this year, Great Lakes Brewing Company bought eight acres of land on the peninsula, signaling a significant expansion. And the Irishtown Bend project — including a new park — has received substantial funding and will be stabilized and renovated in the coming years as well, adding value to the nearby area.

According to CBRE, the aspiration for the site is one that highlights the river views and adjacent amenities.

"Thunderbird is conceived of a predominately mid-rise development (5-7 stories)," the PDF explains, "with the potential for strategically placed higher rise buildings (8+ stories). All designed around view corridors and pedestrian experience."

Here's the full PDF from CBRE:

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