THUNDERBIRD · 2020. 5. 20. · 03/17/2020. a. 1. building 1. sheet north elevation (woonerf) 1" = 40'-0" scale. sheet. scranton peninsula. a6. nrp concept set. note: context imagery

THUNDERBIRDA NEW MIXED-USE NEIGHBORHOOD IN

CLEVELAND’S OPPORTUNITY ZONE

SITES AVAILABLE FOR SALE

CONTACT EXCLUSIVE AGENTS:JOSEPH KHOURI First Vice President+1 216 658 [email protected]

KEVIN MOSS Senior Associate+1 216 363 [email protected]

© 2020 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. Any projections, opinions, or estimates are subject to uncertainty. The information may not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. Licensed Real Estate Broker.

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T H U N DE R B I R D AT T H E S C R A N TON P E N I N S U L A

Sites available for sale or build to suit.

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THE AVIAN

LOT ANEARLY FULLY ENTITLED MULTIFAMILY DEVELOPMENT SITE (300+ UNITS) Acres: 7.44

LOT BAcres: 4.17

THE AVIANComing Soon - 20,000 SF Office Building Under Construction

GREAT LAKES BREWING CO.Recently Purchased for Future Development


Sites Available For Sale

DOWNTOWN DOWNTOWN

THE FLATS OHIO CITY

DOWNTOWN TREMONT

OHIO CITY THE FLATS

Proximity matters. Thunderbird is uniquely

positioned within a half mile of Public Square and a very short walk to Ohio City and

Tremont.


Thunderbird is one of the most uniquely positioned properties in Cleveland. The site is located on the Scranton Peninsula, along the Cuyahoga River in the Flats, facing downtown Cleveland and surrounded by and connected to Ohio City and Tremont neighborhoods.

• UTILITIES: Water/sewer provided to Carter Road.

• ZONING: Semi-industrial (allows for multi-family or retail). City support to rezone or provide variances as needed.

• STREETS: Simple, private drives envisioned to create a small-block, urban neighborhood.

• LOCATION: Less than a half mile (10 min walk) from Ohio City, Tremont and Public Square.

• TRAILS AND PARKS: Surrounded by trails and parks: Towpath, Centennial Link, Red Line Greenway, Merwin’s Wharf, Irishtown Bend Park (planned), Thunderbird Riverfront Park and Trail* (proposed).

• RIVERFRONT: Over 1400’ of river frontage.

• VIEWS: Panoramic views of Cleveland skyline.

• NEIGHBORHOOD: West 25th Street, West Side Market, Hoopples, Cleveland Rowing Foundation (less than 5 min walk).

• DESIGN: Walkable and dense, with an eye toward sharp, but straightforward design. Master planned and coordinated, but flexible and realistic.

• BREWERY: Great Lakes Brewery will be joining the neighborhood with a new, state-of-the-art facility that will be designed at neighborhood scale with a bar/restaurant, and a pedestrian-oriented design.

* Thunderbird Park is in the very nascent stages of planning, is forward looking and uncertain if it will be realized.

DEMOGRAPHICS

1 mile 3 miles 5 miles

2020 Population 15,316 97,368 257,806

2020 Daytime Population 67, 843 147,038 338,386

2020 Average HH Income $88,432 $49,876 $48,285

2025 Average HH Income $101,180 $57,253 $53,803

OPTIMAL HIGHWAY ACCESSIBILITY:

I-90W: 5 mins.

I-90E: 10 mins.

I-71S: 5 mins.

I-77S: 7 mins.

I-490W: 5 mins.

I-490E: 7 mins. THE AVIAN


Thunderbird will establish a new dynamic neighborhood in the heart of a reemerging American City.

AN ASPIRATIONA Vision of Cleveland’s FutureLocated in the center of Cleveland and void of any existing buildings, the blank canvas of the Scranton Peninsula’s eastern side is envisioned as a small, compact and walkable community, 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.

A CROSSROADSFrom Downtown to NeighborhoodsWith well-established and burgeoning neighborhoods of Ohio City, Tremont and Downtown all within a half mile of the district, the district will be developed to support these neighborhoods, creating a waterfront link that binds them and establishes a continuous network of places to live, create, mix and work.

A WATERFRONTAn Amenity to the Neighborhood and CommunityThe district is designed with a continuous public waterfront, culminating in a world class park on the southern edge that will connect

to the continuously expanding park system including direct adjacency with the new 17-acre park at Irish Town Bend and the existing park on the southern side of the Peninsula, creating an active and living waterfront experience on the south bank of the Flats.

A LIVING ROOMIntimate and Human-Scaled DevelopmentConscious of the large site and surrounding infrastructure, the district is composed of a series of well-designed small spaces, cozy walkable streets, and short building blocks with compatible but diverse architecture.

A CONTEXTWith a Focus on Views, Adjacencies and a RiverHome to some of the most spectacular views of Cleveland, the district is designed to orient viewers to the landmarks on the horizon through framed spaces and a gradient of building heights that respond to the site’s topographic changes. Thunderbird is conceived of a predominately mid-rise development (5-7 stories) with the potential for strategically placed higher rise buildings (8+ stories). All designed around view corridors and pedestrian experience.



Proposed Park and Riverfront Trail AmenitiesView from the Public Space along Carter Road looking North


theNRPgroup

SCRANTON PENINSULACleveland, OH03/17/2020

A1SHEETBUILDING 1

NORTH ELEVATION (WOONERF) 1" = 40'-0" SCALE

SHEET

A6SCRANTON PENINSULANRP CONCEPT SET

NOTE: CONTEXT IMAGERY COURTESY OF PERKINS+WILLTHUNDERBIRD RENDERING SHOWN FOR RENDERING PURPOSES ONLY TO DEMONSTRATE SITE AND CONTEXT



Site is located in newly created Opportunity Zone:(Contact Tracey Nichols, Director Financial Services, Project Management Consultants 216-566-5825)

• An Opportunity Zone is an economic development tool designed to spur economic development and job creation in economically-distressed communities where new investments may be eligible for preferential tax treatment. • Investors can defer and reduce capital-gains taxes when they reinvest profits from other asset sales (including, but not limited to, real estate, stocks or art collectibles, etc.) into a qualified Opportunity Zone fund within 180 days following the sale of a prior investment. • Opportunity Zone Funds are eligible for a basket of tax benefits, including deferral of current capital gains, a tax reduction of up to 15% on current gains, and no capital gains taxes on appreciation if the investment is held for 10 years. The tax benefits for investors increase the longer the asset is held. - After 5 year hold, reduction of 10% - After 7 year hold, reduction of 15% - After 10 year hold, investors permanently avoid any capital gains tax on the post-acquisition gains.

• Potential governmental economic incentives available through the City of Cleveland’s Economic Development Department.

Opportunity Zone & Economic Incenttives

LOT A - 7.44 AC Nearly Fully Entitled Multifamily Development(300+ Units)

TIER 1 DUE DILIGENCE (WITH NDA):• Design Review Committee Package• Energy Green Study• Site-Civil Due Diligence• Title Reports• Peninsula Project Overview

TIER 2 DUE DILIGENCE: • Full City Application• Opportunity Zone Fund• Tax Abatement Application• TIF Application

• Consultant Contracts• Drawings• Market Study• Signage

LOT A - Nearly Fully Entitled Development Site. Recent Due Diligence Includes:

LOT AAT

TOWPATHTRAIL

STARTING POINT


Irishtown Bend (ITB)Project

The Irishtown Bend project is a plan that leverages the immediate need to keep the severely eroding slope from sliding into the Cuyahoga River, a critical infrastructural corridor and active shipping channel, with the creation of a new urban waterfront park providing open space and recreational opportunities to the adjacent underserved community now disconnected from the river.

• 34 Acres of Land on the steep west bank of the Cuyahoga River • The projects call for the creation of a 17-acre site that will connect Ohio City on Cleveland’s near west side to the Flats, Downtown and Lake Erie. • The stabilization fo the hillside will make possible construction of a green space with unparalleled views of the Cuyahoga River and the downtown skyline, and regional trails connecting Lake Erie to the Cuyahoga Valley National Park and points south on the 101- mile Towpath Trail. • In the summer of 2019, The U.S. Department of Transportation awarded $9 million towards the stabilization of ITB through a grant from the department’s INFRA program, or Infrastructure For Rebuilding America, and will go to the Northeast Ohio Areawide Coordinating Agency (NOACA).

Sources: www.land-studio.org/projects/irishtown-bend www.cmgsite.com/project/irishtown-bend/ cleveland.com

Images from:www.land-studio.org/projects/irishtown-bend


Playhouse Square

A TOP 5THEATER DISTRICT

ClevelandClinicA TOP 5

HEALTH SYSTEM

Walkable Downtown Cleveland

A TOP CITY IN THE COUNTRY FOR VISITORS WHO WANT TO GO

CAR-FREE

Cleveland Sports3 PRO TEAMS AND APPEARANCES IN

BOTH THE NBA FINALS AND MLB WORLD SERIES IN THE LAST YEAR

Cleveland Museum of Art

A TOP 5ART MUSEUM

Cleveland is a rich city filled with world class destinations.

A V I B R A N T, T R A N S F OR M I NG C I T Y

18 MillionANNUAL VISITORS

Flats East BankOVER $500 MILLION

INVESTED IN THE LAST TEN YEARS

Ohio CityHOME TO THE LOCALLY

OWNED WEST SIDE MARKET



.17mi.17mi0 mi0 mi

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TheTheBeaconBeacon

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Sherwin Sherwin Williams Williams

Future World Future World HQHQ

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Cleveland Cleveland Convention Convention

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Key TowerKey Tower

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W Huron Rd

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Chester Ave

Chester Ave

Payne AvePayne Ave

Euclid Ave

Euclid Ave

Euclid Ave

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Prospect Ave

Prospect Ave

Prospect Ave

Prospect Ave

Carnegie AveCarnegie Ave

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PROGRESSIVEPROGRESSIVEFIELDFIELD

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QUICKEN QUICKEN LOANS LOANS ARENAARENA

FIRST ENERGYFIRST ENERGYSTADIUMSTADIUM

Greater Greater ClevelandClevelandAquariumAquarium

JacobsJacobsPavilionPavilion

Galleria atGalleria at Erieview Erieview

Port of ClevelandPort of Cleveland

Burke Lakefront AirportBurke Lakefront Airport

CountyCountyCourthouseCourthouse

Global Global Center for Center for

HealthHealthInnovationInnovation

ClevelandClevelandPublicPublicLibraryLibrary

TheTheArcadeArcade

ColonialColonialMarketplaceMarketplace

ClevelandClevelandPublicPublic

AuditoriumAuditorium

ClevelandClevelandCity HallCity Hall

Warehouse DistrictWarehouse District

Flats East Flats East BankBank

Flats West Flats West BankBank

GatewayGatewayDistrictDistrict

PlayhousePlayhouseSquareSquare

CampusCampusDistrictDistrict

Public SquarePublic Square

North Coast HarborNorth Coast Harbor

To I-90/I-71/I-77To I-90/I-71/I-77

To I-90To I-90

Lake ErieLake Erie

ConnorConnorPalacePalace

2,800 seats2,800 seats

HannaHannaTheatreTheatre550 seats550 seats

OutcaltOutcaltTheatreTheatre334 seats334 seats

StateStateTheatreTheatre


OhioOhioTheatreTheatre


AllenAllenTheatreTheatre500 seats500 seats

HelenHelenTheatreTheatre150 seats150 seatsWestfieldWestfield

InsuranceInsuranceTheatreTheatre300 seats300 seats

Cuyahoga River

Cuyahoga River

Voinovich Voinovich Bicentennial ParkBicentennial Park

RESIDENTIAL

Kennedy'sKennedy'sTheatreTheatre100 seats100 seats

CLEVELAND STATE UNIVERSITYCLEVELAND STATE UNIVERSITY17,730 Students17,730 Students

OHIO CITY

OHIO CITY

Superior AveSuperior Ave

Carnegie AveCarnegie Ave

Tower Tower City City

CenterCenter

FederalFederalCourthouseCourthouse

STARBUCKS

DOWN-TOWN

CLEVE-LAND

RESTAURANT &HOSPITALITY OVERVIEW

Ginza Sushi House

East 4th

Warehouse District

Theatre District

Flats East BankMajor Sports

Teams Hotel Number of Rooms

Aloft 150Comfort Inn 145DoubleTree 379Drury Plaza 189Hampton Inn 194Hilton 600Hilton Garden Inn 240Holiday Inn Express & Suites 141Hyatt Regency 293Kimpton Schofield 122Marriott at Key Center 175Metropolitan at the 9 156Radisson at Gateway 142Renaissance 491Residence Inn 175Ritz-Carlton 205The Westin 484University Hotel 161Wyndham at Playhouse Square 205Total Hotel RoomsDowntown Cleveland 4,647

Public SquareTURN BAY + KITCHEN

THUNDERBIRD


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14,86014,860

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128,858128,858

143,779143,779

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A L E A

Last Updated: May 20, 2020CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners.Traffic Counts: Ohio Department of Transportation (ODOT) 2018

© 2020 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk.

Licensed Real Estate Broker

NEW RESIDENTIAL DEVELOPMENTS±2,500 units

1. The Edison (306)2. Edge (62)3. Mariner’s Watch (62)4. Church & State (161)5. The Quarter (232)6. Nautica Waterfront District (664)7. W 25th Street Lofts (83)8. Franklin Circle (119)9. Clinton West (70)10. Thunderbird11. INTRO (290)

MAJOR OFFICE BLDGS39.2 MSF Total (3 Miles)

1. Key Tower - 1,425,00 SF2. 200 Public Square - 1,270,204 SF3. Carl B. Stokes U.S. Courthouse -

800,000 SF4. PNC Center - 789,491 SF5. Tower at Erieview - 760,339 SF

TRADE AREA INFO W 25th Street and Detroit Avenue(5 Miles)

• Population:254,387• Daytime Population: 396,293• Average HH Income: $47,461• Total Businesses: 11,064• Total Employees: 287,945

MAJOR EMPLOYERS

1. Sherwin Williams - 4,000 employees2. KeyCorp - 2,000 employees3. Jones Day - 1,500 employees4. AmTrust Financial - 1,466 employees5. Medical Mutual - 1,430 employees

OHIO CITYRETAIL TRADE AERIAL

OHIO CITYTrade Area Aerial

“The median income in the Ohio City neighbor-hood has skyrocketed from $23,000 to $93,000 over the last decade.” - The Wall Street Journal 2016

“Median home values in Ohio City have shot up 800% since 2000 to $270,000 today.” - The Wall Street Journal 2016


THUNDERBIRDA NEW MIXED-USE NEIGHBORHOOD IN CLEVELAND

SITES AVAILABLE FOR SALE

CONTACT EXCLUSIVE AGENTS:JOSEPH KHOURI First Vice President+1 216 658 6120

[email protected]

KEVIN MOSS Senior Associate

+1 216 363 [email protected]

MASTER DEVELOPED IN PARTNERSHIP BY:FRED GEIS

EAST WEST ALLIANCEJ ROC DEVELOPMENT

Documents

THUNDERBIRD · 2020. 5. 20. · 03/17/2020. a. 1. building 1. sheet north elevation (woonerf) 1" = 40'-0" scale. sheet. scranton peninsula. a6. nrp concept set. note: context imagery