University Circle Site Pitched for Mid-Rise Apartments Near Cleveland Clinic

University Circle Site Poised for Mid-Rise Apartment Development

A 1.2-acre property at the corner of Cedar Avenue and East 107th Street in Cleveland’s University Circle is being offered for sale or redevelopment. The site currently hosts a single-level garage leased to a contract ambulance service but is attracting attention for potential residential use.

The property, owned by local broker Rico Pietro since 2019, sits adjacent to the recently completed seven-story, 261-unit Skyline on Stokes apartment complex. Inspired by that project’s success, Pietro is exploring a follow-on development with Geis Companies, who are already involved with the neighboring site.

Site Details and Zoning

The land is zoned for a maximum building height of 60 feet, which typically allows for a five-story structure. However, surrounding parcels have zoning that permits buildings from 115 to 250 feet tall. An AI-generated rendering suggests a possible 11-story residential building, though Pietro believes an eight-story building would be more cost-effective to construct.

The site is also zoned for local retail, which can include multi-family residential uses. Its location in an Opportunity Zone may qualify future developments for a 10% income tax credit, a program Ohio lawmakers are preparing to renew and possibly expand, offering an additional incentive for investors.

Strategic Location and Market Potential

University Circle is experiencing strong growth driven by education and medical institutions. The area is seeing numerous new jobs and ongoing construction projects. Pietro notes that the site is ideal for residential development given its proximity to major employers and recent successful projects nearby.

To the south, the city has cleared former residential homes to make way for commercial and research facilities, including Canon Healthcare USA’s headquarters. West of the property is Cleveland Clinic’s massive East 105th Street Parking Garage, a nine-level structure with 3,000 spaces largely underutilized at night.

This proximity opens the door for innovative shared parking arrangements between new residential developments and the Clinic. Shared parking can reduce the need for costly on-site parking construction, especially as transportation trends evolve with autonomous vehicles and ride-sharing options.

Development Considerations

• The current lease for the ambulance service runs halfway through a 10-year term, so construction would not be immediate.
• Demolition of the existing 21,305-square-foot garage would be required for redevelopment.
• Negotiations with surrounding property owners and zoning authorities may be needed for height variances or rezoning to maximize building scale.
• Opportunity Zone benefits could provide an attractive equity source for developers and investors.

This site represents a practical opportunity for mid-rise residential development in a growing urban district. Its location and zoning context align with current market demand for housing close to healthcare and education hubs.

For professionals involved in real estate development or construction, this project highlights the importance of strategic site selection, zoning awareness, and leveraging local incentives to support viable multifamily housing projects.