Groundbreaking for one of Lakewood’s largest economic development projects is imminent. The $115 million mixed-use development, spearheaded by CASTO Communities and North Pointe Realty, will be constructed on the 5.7-acre site of the former Lakewood Hospital. A ribbon-cutting ceremony is expected to take place soon, marking the official start of construction.
Lakewood Mayor Meghan George expressed her enthusiasm for the project, stating, “We’re very excited to see the project finally come to fruition. It’s been a long time coming. We’ve been working hard for many years. We had a couple of false starts but are very excited for the city to get this once-in-a-generation development.” She emphasized the scale of the project, noting it is the largest since the development of The Gold Coast.
Project Details and Community Impact
The comprehensive development plan now includes significant enhancements compared to initial estimates. Originally projected at $90 million, the new design features 24,750 square feet of retail space in the first building, along with an additional 6,600 square feet in the existing Curtis Block building. The project will also create a public plaza spanning 17,000 square feet and provide 298 units of mixed-income rental housing, plus seven for-sale townhomes.
In addition to residential and retail spaces, the plans encompass streetscape improvements and pathways that will enhance the overall pedestrian experience. Renovations to the Curtis Block building will establish retail spaces on the ground floor, while the second floor will include apartments. A new vehicular entry and exit point from the parking garage, located off Belle Road, will provide 567 parking spaces, ensuring ample parking for both residents and visitors. Of these, a minimum of 100 spaces will be designated for public use, and 75 spaces will serve the Cleveland Clinic.
Community Response and Future Outlook
While construction is expected to span several years, residents have expressed excitement about the forthcoming changes. Mayor George remarked that the community anticipates the start of the project, highlighting its positive implications for Lakewood’s downtown area. “This is going to be a good overall development for our downtown,” she stated.
The Lakewood project aligns with broader trends in urban development, focusing on mixed-use spaces that combine residential, commercial, and community areas. As construction begins, stakeholders aim to foster a vibrant and inclusive environment that meets the needs of residents while also attracting visitors to the area.
As Lakewood prepares for this substantial transformation, the community looks forward to the opportunities and growth that the $115 million project is expected to bring.