The new $130 million dollar investment, called One University Circle, will be between 25 and 28 stories tall

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The University Circle area of Cleveland is on the rise, literally, with plans moving forward for a new high rise in the heart of the Euclid corridor.

"There's not that many options in University Circle, and I think that the higher-end apartments would do well," said Derek Taylor, who works nearby.

These are just some of the sentiments developers are hoping to bank on with blueprints now in the works for a new state-of-the-art multistory apartment building in this space currently occupied by the Children's Museum.

"I would say it's inevitable we have Case Western growing, and so is the Cleveland Clinic," remarked Steffen Christoffersen.

The new $130 million dollar investment, called One University Circle, will be between 25 and 28 stories tall, utilizing green construction to build nearly 280 units with floor-to-ceiling windows.

It's a massive undertaking Cleveland City councilwoman Mamie Mitchell believes will create jobs.

"It would create opportunity for our minority MBEs, we call it enterprises. We have quite a few contractors around, and I think that would be a great opportunity to participate in what we call 'community benefit agreements,' " she said.

Still as with most construction projects, some have their concerns.

"I think one of the things that might change is the vibe of University Circle. ... We have a lot of historical institutions here maybe bringing in people, something new, might change that," worried Christoffersen.

However, others believe the pros of the project far will far outweigh the cons.

"I think it's a good thing. It will get some people living down here," said Taylor. "There's shops down the street, all the museums, and attractions ... hospitals. I mean you can live, work and play down here and not have to even own a car."

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