Townhomes at Former McKinley Elementary School Site Honored With Development AwardJune 20, 2017
Lakewood can add another feather to its cap.
Smart Business Cleveland is presenting its top award for commercial development to McKinley Place, a 40-unit attached townhome neighborhood on the west side of Lakewood.
“This is a great collaborative effort between the city, the Lakewood Board of Education and the Liberty Development Company, providing diversity in our housing stock,” said Lakewood Mayor Michael Summers.
“McKinley Place complements the surrounding neighborhood while helping to fill an important housing need in Lakewood: first-floor living. This type of housing is an attractive option for both Millennials and empty-nesters alike.”
“From our 1910 historic colonial houses to new, modern construction, there’s something for everyone in Lakewood.”
Construction began on the McKinley Place homes in October 2015, and, to date, 33 of the units have sold. The nearly 3-acre site was home to the former McKinley Elementary School, vacant for several years prior to the launch of the development.
“We are proud to be recognized for helping to build a new neighborhood that complements such an outstanding community. McKinley Place represents the best in public private partnership and our team at Liberty and our residents at McKinley feel fortunate to be part of Lakewood,” said Tom Kuluris, President of Liberty Development Company.
Bryce Sylvester, the city’s director of planning and development, said the award affirms Lakewood’s commitment to protecting and enhancing the quality and character of the city’s residential neighborhoods.
“Evidence of Lakewood’s vibrancy is all around us,” He said. “Lakewood’s housing market continues to show strength and stability across the entire city”
McKinley Place will add approximately $15 million to the city’s tax base. “From the standpoint of the city and the schools, we’re pleased that we were able to get this project off the ground without offering tax abatements,” Sylvester added.
Construction is expected to be substantially complete by the end of this year.
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