high-rise apartment building next to Edgewater Park and Lake Erie

Development near Edgewater Park revived

Three years ago, a team led by Beachwood-based Property Advisors Group (PAG) planned to build a large residential development at 8400 Lake Ave., overlooking Edgewater Park in Cleveland’s Detroit-Shoreway neighborhood. But with construction costs and interest rates rising, the timing wasn’t right. While costs are still high, the city’s new form-based zoning code may make a scaled-down project achievable and in a timely manner.

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Shoreway Tower has construction in view for 2025

There’s been lots of progress lately on the development of a proposed 13-story Shoreway Tower overlooking Edgewater Park in Cleveland’s Gordon Square neighborhood. Revising easements for a sewer right of way, transferring properties for a tax-increment financing (TIF) district, and advancing legislation to authorize that TIF could allow construction to start sometime in 2025.

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