Transformative Development Takes Root in Independence
- Sep 03, 2015
The city of Independence, Ohio is planning something big. Having recently teamed up with Cleveland-based Fairmount Properties, the city intends to transform a plot of public land into a mixed-use district.
The project calls for the development of two city-owned sites totaling 33 acres of land. One is located on the north side of Rockside Road at Oak Tree Boulevard, while the other is at a former middle school on Brecksville Road. The city has already approved a series of plans for both sites, without disclosing the cost of the development.
Independence purchased the Rockside Road site in 2014 from Duke Realty Corp. for $2.5 million. Together with Fairmount, it now plans to turn the land into a walkable mixed-use district, with retail, restaurants and residences. Meanwhile, at the former middle school site on Brecksville Road, the two partners will build for-sale housing options that do not currently exist in the area. They will all be marketed to young professionals and ‘empty nesters’. The city of Independence revealed that the Brecksville Road site may also include a neighborhood retail center.
For now, Fairmount and the city said that they plan to focus on pre-development activities. The two entities hope to produce initial phases of the project by 2017.