CLEVELAND HEIGHTS, Ohio — On Wednesday, Cleveland Heights broke ground on its new development project, Ascent at the Top of the Hill.
The city has partnered with Flaherty & Colins to develop the luxury mixed-use development.
"We are excited to move forward with this transformative project that has been years in the making," City Manager Tanisha Briley said in a press release issued by the city. "This development represents a major new investment for Cleveland Heights and positions the City for additional growth and development in the future. I am pleased that even in the midst of the COVID-19 pandemic, we have been able to advance this important development."
The $83 Million dollar project was finalized earlier this year, receiving unanimous approval from the Cleveland Heights City Council. The city anticipates Ascent at the Top of the Hill will generate $14.3 Million in net new revenue over a 32-year timeframe, as well as over an estimated $12.3 Million in new taxes and compensation for the Cleveland Heights-University Heights school district, over a 30-year period.
"At the prominent gateway between the Heights and University Circle, the Top of the Hill's development has been a long-time goal of the City," the release states. "Originally home to the eleven-story Doctor's Hospital, the City first acquired the site in the 1960's and, at that time, constructed a municipal surface parking lot on the site. The Ascent at the Top of the Hill is expected to include 261 market-rate luxury apartments, over 11,000 square feet of first-floor commercial/retail/restaurant space, close to 25,000 square feet of green space and a structured parking garage resulting in approximately 550 parking spaces."
Construction on the project is projected to be completed within an 18 to 24-month single phase construction cycle.