In a follow-up to an earlier posting here at NEOtrans about Lakewood redevelopment, there is new activity to report. Two significant properties for sale are reportedly under contract to buyers who want to redevelop these with new uses.
After roughly three years on the market and listing most recently for $1,050,000, the Phantasy Cleveland, 11794-11814 Detroit Ave. (including The Chamber nightclub), has an unidentified buyer who a real estate source says will end the property’s run as a performing arts venue. Foremost among the buyer’s plans to substantially alter the 55,000-square-foot building, the three performing arts theaters and three bars will be removed.
In their place will be retail, offices and parking, possibly retaining the historic facade along Detroit Ave., the real estate source says. Additional details were not available at this early phase.
Built in 1918 as the Homestead Theater, the main theater continued to show movies until 1979. It was part of a theater district that also included the ornate, Spanish-style, 1927-built Loew’s Granada Theatre at the southeast corner of Detroit and West 117th. It closed and was demolished in 1969 for a Shell gas station that succumbed in the 1980s to a Pizza Hut.
The east end of Detroit Ave. in Lakewood has been seeing an uptick in development activity in recent years, including the construction of 83 luxury townhouses in the Rockport Square development on the old Fairchild Chevrolet property. Another nine high-end townhomes will see construction by the end of this year on Fry Avenue, just north of Detroit, to be built by Knez Homes and be called the Mews At Rockport.
North Coast College (NCC–formerly Virginia Marti College) also showed interest in buying the 0.7-acre Phantasy Cleveland property but the seller wasn’t willing to significantly lower its asking price. So NCC acquired a building at 11730 Detroit Ave., used until 2005 by?Vedda Printing before it relocated to a new home on Berea Road.
|Cloaked in an advertising wrap, North Coast College’s latest
acquisition is the former Vedda Printing at Detroit and Hird
avenues, bringing more life to the east end of Lakewood.
(Ken Prendergast photo)
Vedda’s old building at Detroit and Hird avenues had fallen into disrepair. It was originally built in 1911 as the Reify Brothers and Flanigan Building, a furniture and appliance store. NCC bought it for $220,000 and will invest $2 million to redevelop it for a culinary school, studio and classroom spaces, plus offices along with a student-run restaurant and bar, according to a recent?article in Crain’s Cleveland Business.
But NCC’s project isn’t the second new sale and potential redevelopment teased in the lede paragraph. Steve Barry Buick is…but details are even more sketchy as to its potential new future.
Another real estate source says Steve Barry Buick, 16000 Detroit Ave. (owned by Fairlane Realty) the last new-car dealership along Detroit in Lakewood, is under contract to a buyer who wants to redevelop the large, 2-acre site, possibly with high-end residential. A site that large and which includes Bobby O’s Place tavern on the south side of Detroit could fit at least 30 townhomes on it.
|Lakewood’s last new-car dealership has reportedly sold to a
buyer who apparently wants to redevelop the nearly 2-acre
site with high-end housing to justify the rumored high asking
price for the site. (Ken Prendergast photo)
The reason for constructing residential here is that the housing market in Lakewood is hot and inventory is low, meaning that high-end townhomes with quality finishes can easily command prices upwards of $300,000 and possibly up to $500,000. That’s how much townhouses are fectching at McKinley Place on West Clifton, just north of Detroit.
That may justify Fairlane Realty’s rumored high asking price of about $3 million. The property was never listed for sale publicly, so the actual asking price was not officially known. But realtors were reportedly told it was several times higher than the $940,300 the county had it appraised for tax purposes.
Steve Barry Buick stopped selling cars more than a year ago but continued to service and maintain cars until earlier this year. The dealership’s property includes four parcels totaling 0.76 acres and a small building dating from 1927 on the south side of Detroit for the used car lot. The 1.2-acre parcel and dealership sales/service building on the north side of Detroit dates from 1948.
8 thoughts on “Lakewood commercial conversions continue”
WHY are they selling The Chamber and The Phantasy??? D: <
I used to go there and dance like crazy and go to concerts. Even though I've moved out of state, I used to brag about how cool The Chamber is to go to and dance to Gothic, Industrial and EBM music. About how they were the oldest Goth club in Ohio. Whenever I visit family, I'd try to go back to dance and hang out.
Its so sad to see the end of this history. D:<
I can't help but hope the new residential ventures that will kill The Chamber and The Phantasy fail. Selfish, but I don't care.
Goodbye forever to The Chamber and The Phantasy. You will forever be loved and missed, at least by this Elder Goth.
Because they're grody and fucking disgusting. They were in dire need of renovation that they couldn't afford, and these buildings barely passed inspections. Not to mention that for every 1 person who dumped a significant amount of money into enjoying themselves there, another 2 either barely spent a dime and/or started fights and/or damaged property. It was a trashy place with mostly trashy people, and most of you just have graduation goggles on right now, and the rest are delusional.
Yeah. You USED TO. Everyone USED TO.
And the Brooklynization of Lakewood continues. I don't mean Brooklyn as in Ohio. I mean as in fucking N'Yawk. A mostly blue-collar and working class city 0f 2.7 million (as many as Chicago has) has become gentrified and yuppified and is now Manhattan South.
So now Lakewood, one of the best parts of greater Cleveland, the most diverse and eclectic and democratic (both large and small D), is going to be devoured by the yuppie fucks and the condo-building greedheads.
Why is it always HIGH-END housing? How many yupsters and hipsters do they think Cleveland has? We are not Chicago or New York. Even the Millennial entremanures cannot afford 300 K or 500 K…they can go by a goddam HOUSE for that. in some parts of town, a whole BLOCK.
Who the hell is going to move to these cardboard egg-cartons with balconies, anyway? How many empty-nesters from Westlake are going to move back into Cleveland, anyway? This kind of news always makes me want to puke.
Okay, so the places were dumps, and okay, so the Goth subculture is tiny and probably fading away, but why not MIDDLE-CLASS housing? Town houses or apartments/ Why the fuck is it always overpriced condos being built by these mofo greedheads?
Keep destroying Lakewood, guys, even as you claim you are trying to save it. I hope they all sit empty for years to come.
Agreed. We have a joke in my house about the crying need for 'luxury townhomes!' (NOT). What there *is* a need for is affordable housing, but there's not giant payoff for developers so nobody is bothering with those.
I too saw many great shows at the Phantasy over the years, even helped lug equipment up and down those treacherous back stairs at times. And I hope someone with a camera will get in to document the years of graffiti before its demolished. However, the comment about the poor quality of the venue in recent years is very true – I made a rule never to drink anything that didn't come from a can or bottle opened in front of me ages ago. I'm sure its been a struggle trying to maintain a site that large and compete against newer, fancier venues, but the glory days for that complex are long behind it.
Key word: used to. I'm living in Lakewood now and have never heard of those places.
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