CLEVELAND, Ohio — Since Cleveland’s inception, the Cuyahoga River has been a passage for commerce and connection. It serves as a dividing line between the city’s East and West sides, but some think a vision to revitalize the stretch below the downtown skyline could bring more people together.
This month, Detroit-based real estate firm Bedrock acquired three properties between Tower City and the riverfront for $48.5 million. The sale is a large step in Cleveland for Cavaliers owner Dan Gilbert’s company and its vision to reimagine the downtown riverfront.
“Our waterfront is what makes Cleveland so special. And I think this river flows through the heart of the city,” said Joshua Allen, the owner of Great Lakes Watersports.
Allen said he believes the local economy and his boat rental business, located in the Flats West Bank, have benefitted from similar investment along the Cuyahoga River. He said perspectives are also shifting about the river itself.
“There’s a generation that will never let go of the river catching on fire,” Allen said, referring to a 1969 blaze that sparked the creation of the Environmental Protection Agency and Clean Water Act. “That generation will always view the river as this dirty, toxic thing. But there’s another generation of people that love the river, that enjoy the river.”
His kayak, boat and jet ski rentals have soared in popularity since the pandemic, and Allen said it makes sense to put money into riverfront development as the city looks to reinvest in downtown.
“It’s the heart of the city. Whether you’re for entertainment, for living, it’s a beautiful natural resource,” he said.
Bedrock’s purchase includes the current riverside site of Sherwin-Williams before the paint company relocates to its newly constructed downtown highrise in late 2024. The sale encompasses the Prospect Ave. Landmark Office Tower connected to Tower City, the Breen Technology Center and its on-site recreation area on Canal Rd., as well as the neighboring historic Baltimore & Ohio Railroad depot.
Downtown workers told News 5 they’re looking forward to a change in the area and hope it makes the riverfront more accessible.
“It’s a natural resource we’ve taken advantage of financially in the past. Now it’s time to see more, the capacity to expand it to a broader level,” Cliff Hill said.
Matthew Duffy said he'd like to see new apartments built before moving to the riverfront.
“I’m looking to actually move up here, so I’d love to see some new apartments built there, maybe some ways to incorporate using the river a little bit,” Duffy said.
Redevelopment of the site could ultimately create 1.4 million square feet of non-residential space and 2,000 housing units. Construction could encompass roughly 3.5 million square feet and would include parks and river access.
READ MORE: Bedrock to seek conceptional approval for ambitious riverfront redevelopment plan
The acquisition gives momentum to a $3.5 billion, 15-20 year comprehensive Riverfront master plan. It was unveiled in December 2022 and touted as a project prioritizing accessibility, equity, sustainability and resilience.
Allen hopes the initiative balances progress with preservation while making the river as accessible as possible.
“Not a lot of cities have this much fresh water that they can rely on. That’s why it’s important. It’s a very finite resource,” he said.
Part of the multi-billion dollar project has already secured millions in state, city and private funding.
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