x
Breaking News
More () »

Cleveland's historic Shaker Square no longer for sale

The Coral Company tells 3News it is taking the shopping center off the market because of concerns raised about the proposed redevelopment plan.

CLEVELAND — Just over a month after the owners of Shaker Square put it up for sale, the Coral Company has taken the nation's second oldest shopping center off the market. 

In a statement to 3News on Tuesday, the Coral Company's Peter Rubin says, "Shaker square is no longer for sale. We withdrew the square from the market to give the public space redevelopment plan more time to address concerns raised by merchants at the square and neighbors in the community. When all of the concerns are addressed, we’ll reconsider whether or not it is time for us to sell the square. There are many variables, so there is assurance that we will sell the square at that time. We want to meet our commitments to the city and neighborhood and need some additional time to do so."

The 'redevelopment' plan that Rubin refers to is the 'This is Shaker Square' project that was first unveiled last summer. The plan would close part of the eastbound and westbound lanes of Shaker Boulevard around the Square to create more green space.

RELATED: FIRST LOOK | Planners unveil designs for new look of Shaker Square; GALLERY

This is currently how the square looks:  

Credit: Aerial Agents/Hargreaves Associates

These are renderings of what the square would look like after the redevelopment:

Plans also call for a promenade, a north-south walkway, a large lawn space with a stage that could host outdoor movies, a splash pad and playground, plus three parking garages.

Not everyone at Shaker Square is excited about the proposed changes.

RELATED: Opposition grows as plans to renovate Shaker Square are revealed

Brandon Chrostowski, owner of Edwin’s Leadership and Restaurant Institute, believes there are safety concerns that aren’t being considered.

“When you shut down a main artery, people will speed up and down Larchmere, up and down the side streets,” Chrostowski said. “It’s dangerous for our children and residents.”

Ultimately the new layout also isn’t conducive to good, consistent business, he says.

“We want to put something here that people will be drawn to and will want to hang out at,” says Tara Turner of LAND, which is spearheading 'This is Shaker Square' along with Cleveland Neighborhood Progress. “This is a district, this isn't just Shaker Square, it's about Buckeye and Larchmere and Shaker Boulevard and all of these neighborhoods coming together.”

Yet, it seems the vision of how to unite those neighborhoods isn’t sitting well with the people in them.

“This plan has been going on behind closed doors as many of these interested powers happen...in the shadows,” Chrostowski said. “We just want compromise.”

The Coral Company has owned Shaker Square for 15 years. Last month, Rubin announced the decision to put the square up for sale, saying "our consideration of options includes the recognition that the Square is a community asset. We continue to accept the responsibility to consider the community in all decisions we make."

RELATED: Cleveland's historic Shaker Square for sale

Before You Leave, Check This Out