The Flats East Bank project began with
the idea to rebuild and revitalize a largely empty section of downtown Cleveland, located along the east bank of the Cuyahoga River. New development
was devised and a plan to build a vibrant and livable urban district complete
with housing, entertainment & retail destinations, and office space emerged.
The combined effect of these new elements near the downtown core that would not
only draw tenants to new buildings but help reinvigorate a part of Cleveland
suffering from economic stagnation.
The idea to capitalize on Cleveland’s
underdeveloped waterfront is not new per se and the initial plans for the Flats East Bank appeared more than a decade ago. However because of various limiting factors
(most notably the 2008 Financial Crisis that destroyed many developers’ access
to traditional credit sources) the Flats East Bank seemed destined to remain an
intriguing concept of new downtown Cleveland development.
