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Council Clears Path for New Beachwood Apartments

The 340-unit upscale apartment building is to be built at Chagrin and Green

City Council has cleared the way for an upscale apartment complex on Chagrin Road, creating a new zoning district and rezoning the property where three Commerce Park office buildings stand.

City officials hope the four-story, 340-unit building to be built at Green Road and Chagrin Boulevard will attract young professionals to the city.

A concept plan presented calls for an apartment building with a two-story parking garage where Commerce Park Buildings I, II and III stand at the southeast corner of the intersection.

City Planner George Smerigan said that the plans are consistent with the  his company conducted for the city earlier this year.

The property sold for $4.1 million in September to The NRP Group, LLC and Munsell Realty Advisors, LLC. City Planner George Smerigan said the buildings will be torn down to make room for the new apartments if the legislation passes. Tenants from those offices will move to buildings IV and V.

The property was close to foreclosure before it went to Marketview Properties, LLC, added Smerigan.

Smerigan said that the office buildings were in dire need of repairs.

Nikki Ferrell March 22, 2012 at 08:38 PM
Do you think it will fill up? We've got some Facebook comments here! From Dave Cunix: "Depends, in part, on what happens with Highland." And from Michael J. Saltzman: "One will have a clear view of the Highland Links from over half of the suites. One will be within three miles of three Starbucks. One will be within a quick response time to the new UH. There will be 85 well fixed neighbors on each floor. The Pewter Mug will be a Ground Floor Restaurant in the Lobby. What's not to like." What do you think?

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