Pinecrest Development in Orange One Step Closer to Construction Start
- Nov 18, 2013
A small village in Northeast Ohio is about to have a huge impact on the entire area. On Nov. 5, residents of the village of Orange voted to approve plans to rezone a residential neighborhood and pave the way for a 76-acre mixed-use project that will bring new, upscale shopping to the region. According to unofficial results from the Cuyahoga County Board of Elections, 709 people voted for Issue 51, while 532 were against it.
The project is called Pinecrest and it’s the creation of Northeast Ohio real estate developer David Lewanski and Lewanski Development L.L.C. At a cost of $150 million, it will be Orange Village’s first-ever town center.
Pinecrest will be located near the Harvard Road and I-271 interchange. On the project’s website, the developers say they reached agreements with all the required homeowners and that they will receive above-market value for their homes. They also pledged not to bring any big-box, discount retailers to the development.
Pinecrest is designed to be a pedestrian-friendly destination, with a Western lodge-style architecture. The developers say they will use natural materials such as stone, wood and brick in its construction, as well as green building techniques. Plans show Pinecrest will feature about 400,000 square feet of retail and restaurant space; a 650-seat theater; 18,500 square feet of office space; 220 flats, villas and townhomes; parking; and green spaces. All the homes will be for-sale only, with prices starting at around $300,000.
The development is also expected to provide a significant boost to the local economy. According to its website, Pinecrest is expected to bring $1.5 million in new annual revenue for Orange Village and $2.9 million in new annual revenue for Orange Schools. It will also create more than 1,000 construction jobs and over 2,100 permanent jobs upon its completion.
The project will be developed in phases. Phase II also includes the construction of an upscale, 75-room hotel. Work will start next year, with Phase I expected to open in 2016. All phases are scheduled for completion by 2018. The Cleveland Plain Dealer reported last week that David Lewanski signed Fairmount Properties on as a joint-venture partner for the development.
Photo credits: http://pinecrestyes.com/