Gordon Square apartment project finalizes financing

Called Canopy, this large multi-family development will be built next to Herman Park in Cleveland’s Gordon Square neighborhood (Dimit). CLICK IMAGES TO ENLARGE THEM.

Demolition, construction starts by year’s end

The development team for a large apartment project in Cleveland’s Gordon Square neighborhood closed on financing this week. That should allow it to start work on the new development this year. The development also has a name now — Canopy and a Web presence.

To be located at 6400 Herman Ave., Canopy is the result of a joint venture between Heirloom Company and Pride One Construction, both of Greater Cleveland. Financing is from S&T Bank, and Erie Bank, along with Cleveland Development Advisors and a capital lease through the Port of Cleveland. Financing was arranged by Bellwether Enterprise of Cleveland.

“Demolition should start within the next couple of months, and then we should be opening spring 2027,” said Justin Strizzi, founder and CEO of Heirloom. His partner in Heirloom is Taylor Hawkins.

The joint venture plans to demolish a two-story industrial warehouse on the site. In its place, the team will construct a four-story, 143,483-square-foot apartment building offering 135 housing units — 114 one-bedroom apartments and 21 two-bedroom suites, according to plans approved by the City Planning Commission in November 2024.

This is Strizzi’s second major development in the Gordon Square neighborhood. His first was The Welleon, 5454 Detroit Ave., but for another company, the Bond Street Group. Bond Street Group is not affiliated with Canopy.

Site plan for Canopy, to rise on Herman Avenue between West 65th Street, at left, and Herman Park (Dimit).

Heirloom is the property management firm for the Welleon. It leased out quickly despite commanding top-of-the-market rents.

To be demolished for the Canopy apartments is a 51,675-square-foot brick warehouse. The 1931-built structure and its 2.2 acres of land was owned by Rosemary Stibrick of Westlake but sold to 6400 Herman LLC as of Aug. 13.

“We’ve had our eyes on this site for a long time. Its appeal as a future mixed-use property is pretty fundamental — it’s in the heart of one of Cleveland’s most dynamic neighborhoods and fronts a massive public green space,” Strizzi said. “The energy, the mix of culture, and the genuine sense of community here are unmatched. The momentum is real, and it’s only getting stronger. It checks every box when we assess feasibility and envision a development’s potential.”

Multiple real estate listing Web sites show the property to be under a purchase contract but no title transfer has yet taken place. That will likely happen soon now that the project’s financing has closed.

Plans show that, in the middle of the reverse C-shaped building footprint will be a 137-space parking lot. Most of the spaces will be uncovered but 40 of the parking spaces will be “tucked under” the building from the back. Another six on-street parking spaces will be available.

View of the Canopy apartments from Herman Park. Note that the apartments facing the park all have balconies so residents can engage with it. There also be a coffee bar at the corner of the building fronting Herman Avenue and the park (Dimit).

The three wings of the building would be sited to accomplish different things. The southernmost wing along Herman would give the apartment complex a street presence and expand the street wall. The eastern side, with its many balconies, is intended to engage with Herman Park.

The northern flank is sited diagonally along a former industrial railroad spur that may be converted into a hiking/biking trail to Edgewater Park. At the very northern tip of the irregularly shaped parcel is where a swimming pool is proposed to be located, according to plans by Dimit Architects of Lakewood.

The ground floor of the wing facing Herman will be mostly co-working spaces. The building’s lobby and a coffee bar is planned at the southeast corner of the complex, where the building, street and the park meet. Just north of that and facing Herman Park will be the apartment complex’s fitness center.

Another development overlooking Herman Park, Breakwater Residences, continues to see progress. The 193-unit housing complex at 5901-6001 Breakwater Ave. is planned where the Premium Metals factory stood until earlier this year. It was demolished for the planned mix of apartments and townhouses. But no construction permit has been issued yet.

END

Scroll to Top