Development Team Offers Win-Win Deal to Prospective Tenants in Cleveland
- Dec 17, 2015
Cleveland–The developers of the newly-built Flats at East Bank Apartments have launched a novel incentive of giving new tenants an “all-expense paid vacation” of up to $5,000 during next summer’s Republican National Convention. But there’s a catch, according to the Cleveland Scene.
During the event, those who agree to this deal will be asked to open up their place for the RNC attendees. The offer is a win-win according to the source, since residents would be paid to avoid political hordes, while incoming visitors would benefit from a surplus of accommodation options in the under-supplied Northeast Ohio region.
The Flats at East Bank offers 241 suites, which are currently 70 percent leased. Amenities include 24-hour concierge service, hardwood style floors, free one-year memberships to gym EB Fitness and seasonal outdoor nightclub “FWD Day + Night Club,” among other attractions.
These residences are part of the second phase of a larger mixed-use project developed by Wolstein Group partners Iris Wolstein and her son, Scott Wolstein, and Fairmount Properties. Phase II, which officially opened this fall, also brought a 1,200-foot riverfront boardwalk, along with new restaurants and bars including FWD Day & Night Club, Alley Cat, Crop Rocks, Crop Sticks, Big Bang Dueling Piano Bar, FlipSide Burgers and On Air Studio. According to the Newnet5 Cleveland, the cost for this portion of the development rose to $133 million.
The development’s first phase brought an Aloft hotel and an office tower occupied by Ernst & Young and Tucker Ellis & West. A proposed phase three might include a movie theater, street-level retail outlets, and an additional 100 residences.
“Flats at East Bank is a dynamic new living experience right on the waterfront and we wanted to provide a way for new residents to take advantage of a special opportunity during the RNC,” Scott Wolstein, developer and partner with The Wolstein Group, said. “We are happy to be able to provide such an exceptional benefit to those leasing in downtown Cleveland.”
Image courtesy of Fairmount Properties