515 Euclid Ave. Phase One Now Open, Plans Underway for Phase Two.CLEVELAND -- Ohio Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. announced the completion of the first phase of their development project in downtown Cleveland Downtown Cleveland is the central business district of the City of Cleveland and Northeast Ohio. Reinvestment in the area in the mid-1990s spurred a rebirth that continues to this day, with over $2 billion in capital projects slated to involve the downtown area over the next few . The project, developed by an affiliate of the Bank, OSF See Open Group. OSF - Open Software Foundation Properties, Inc., is located at 515 Euclid Avenue For the street in Ontario, California, see . Euclid Avenue is a name applied to streets in many American cities; however, Cleveland, Ohio’s Euclid Avenue received nationwide attention from the 1860s to the 1920s for its beauty and wealth. (the northwest corner of East Sixth Street and Euclid Avenue) and consists of retail space and a parking garage. "We're excited to see the first phase of this project completed," said David Goldberg, Co-Chairman of the Board of Ohio Savings Bank. "This represents just one small piece of the rebuilding of Euclid Avenue -- the main street not only of Cleveland, but of every community in our region. We all call Cleveland home and Ohio Savings is proud to be doing our part to bring back the glory to this street and to our city." The 524-space parking garage opened for business today and will remain open 24 hours a day, seven days a week. The garage, which is being operated by Ampco System Parking, is fully automated, featuring Automated Vehicle Identification (hands free entry) for monthly parkers and automated cashiering for daily customers. Daily and monthly parking is available. Call Ampco at 216-621-6600 for details. The retail space at street level consists of 11,000 square feet, with the availability of a second level. Space is available and leasing is being handled by Ohio Savings Management. Call 216-781-1801 for details. This initial phase of the project cost $20 million. OSF Properties is currently meeting with both local and national developers regarding the second phase of the project -- the development of a 14-story 120-unit condominium tower to be constructed on top of the retail/parking structure. The 515 site, which was previously occupied by vacant buildings that once housed the main office of Ohio Savings Bank, an office of the Central National Bank, and the Nottingham Building, is directly east of the historic Hyatt Arcade Hotel Arcade Hotel is a registered historic building in Springfield, Ohio, listed in the National Register on 1974-10-16. Historic uses
1. ^ National Register Information System. . Demolition of existing buildings and construction of the new structure began in June 2003. The new building was designed by the local architectural firm An architectural firm is a company which employs one or more licensed architects and practices the profession of architecture. History Architects (master builders) have existed since early in recorded history. The earliest recorded architects include Imhotep (c. of Richard Fleishman and Associates, and other members of the design and construction team were Desman Associates and Turner Construction Turner Construction Company is one of the largest construction management companies in the United States with a construction volume of $8.5 billion in 2006. According to Engineering News-Record , both with offices in Cleveland. |
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