4.12.2006

STEELYARD COMMONS SHRINKING?

Don't look now, but Cleveland's new shopping mall in the Flats seems to have gotten smaller in the last ten months.

You can check it out at the official Steelyard Commons website. Here's the site plan as of May 2005. And here's the "Current Lease Plan" map dated March 2006. Comparing the two, it appears that the site has been redesigned to:
Eliminate one of the four "major retail" stores (at 150,000 square feet, the second biggest) at the development's north end...

Add 40,000 to 50,000 net square feet of smaller retail, and...

Add a couple of outlots at the north entrance for Steak 'n' Shake and Dunkin' Donuts.
All told, it seems the developers have eliminated something like 100,000 square feet of leasable area -- 10% of the million square feet originally promised.

How will these changes affect the project's tax and employment projections? Unfortunately, no such updates have been added to the SYC "Economic Impact" page.