This is only a massing model. The 24-story office tower is Building #7 - the mixed-use towers are the 14-story tower to the upper left of the curved midrise, and #5 (17-stories):
A detail view of Buildings 4 & 5:
Images courtesy of Ken Prendergast of Sun Newspapers.
Ernst & Young name to adorn new Flats office tower
Posted by Michelle Jarboe May 08, 2008 11:11AM
Categories: Real estate
The east bank project in the Flats would include a public boardwalk along the river. This rendering was among several released Thursday. It shows street-level stores with residences above them. Ernst & Young will occupy the top six floors of downtown's first new office tower in nearly two decades -- a tower that will bear the accounting firm's name.
Company officials joined Mayor Frank Jackson and developer Scott Wolstein Thursday morning to formally announce Ernst & Young's plan to move its downtown Cleveland office from the Huntington Building into a massive planned development in the Flats.
The firm also will move its education center from Middleburg Heights to downtown, shifting training activities and conferences from the suburban property to the office tower and, possibly, a nearby hotel and other buildings. Wolstein, who is developing the east bank of the Flats with his mother, Iris, and Fairmount Properties, could buy the 23-acre Middleburg Heights property from Ernst & Young.
Along with the move announcement, which The Plain Dealer reported earlier this week, officials said that the city will receive a $4 million award from the U.S. Department of Housing and Urban Development for brownfield redevelopment in the Flats. The award -- half-grant, half-loan -- will help Wolstein and his partners open downtown's first full-service grocery store and could create 52 new full-time jobs and 100 temporary construction jobs, according to a news release from U.S. Sen. George Voinovich's office.
Wolstein would not name the grocery store or any other project tenants this morning. Neither he nor Jackson said much in response to questions about the status of talks with manufacturer Eaton Corp. about following Ernst & Young and law firm Tucker Ellis & West LLP to the Flats. "They came to us," Wolstein said of Eaton. "We didn't come to them. So they certainly have an interest in this site." The manufacturer has been talking with the developers and the Cleveland-Cuyahoga County Port Authority about a possible move from downtown's Eaton Center to land within the loop created by the Regional Transit Authority's Waterfront Line.
Regardless of Eaton's decision, it appears the Flats project has locked up its major office tenants. Ernst & Young will be the largest tenant in the 20- or 21-story office tower (plus three levels of parking
), which Adam Fishman of Fairmount Properties described as "the fulcrum of where the Warehouse District and the Flats come together."
Tucker Ellis has agreed to take about four floors below Ernst & Young, with the remaining space being leased closer to the building's opening date in 2011. Though Ernst & Young has an option to expand its 150,000-plus square feet in the bulding, Wolstein said he hopes to divvy up the remaining floors among smaller office tenants -- each taking perhaps 20,000 to 30,000 square feet.
Developers showed off new renderings of the project but did not display images of the office tower. Fishman said the building, being designed by NBBJ, will be "more modern than traditional" and "more glass than stone." Pending city approval, the Ernst & Young lighted logo will be on three sides of the building's facade.