UNIVERSITY CIRCLE: University Circle Institutions are Job Engines, Study Finds. ***
Michelle Jarboe of the Plain Dealer reported September 5, 2010: “¶ Hospitals, institutions and other nonprofit groups have been creating jobs and fueling construction projects in University Circle, laying the foundation for more apartments and other private development in the neighborhood. ¶ Since 2005, 17 organizations in the University Circle area have added the equivalent of 4,540 full time jobs, according to a study scheduled for release this week. Those organizations could create 2,900 more jobs within five years, expanding their collective work force to a projected 36,758 full[time positions. ¶ The study was jointly paid for by community development group University Circle Inc. and the Finch group, a Florida developer that has been investing in the area. Projecting growth through 2015, the research could be a valuable tool for developers considering projects between East 90th and East 120th streets. ¶ “It’s hard to find anywhere else in the region or the state of Ohio, for that matter, that has incurred growth in a down period,” said Chris Ronayne, president of University Circle Inc. and a candidate for the new Cuyahoga County Council.”
Michelle Jarboe of the Plain Dealer reported December 22, 2010: "¶Construction will start this week on the long-delayed Flats East Bank project, now that developers\lopers have finally locked in the money to build offices, a hotel, retail space and a park at the mouth of the Cuyahoga River. ¶The Wolstein Group and Fairmount Properties closed on their financing Tuedsay - making a $272 million development real after years of dreaming and planning. Set to open in spring 2013, the project will extend downtown Cleveland to the waterfront and include the central business district's first new multitenant office building in more than a decade. ¶The $272 million first phase will house accounting firm Ernst & Young, law firm Tucker Ellis & West and CB Richard Ellis real estate brokerage - all downtown tenants itching for a new location. The Flats East Bank also will include a riverfront boardwalk and 14 acres of parkland. The green space eventually could be the site of residential development, shops, restaurants and entertainment venues, once the economy improves and more financing becomes available. ¶The project is one of three potential game-changers for downtown Cleveland, where a new convention center-medical mart project is scheduled to break ground soon and a' casino is int works."
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