Cleveland – The Metropolis of the Western Reserve has for years now gone through a phase of people returning to the roots of the city so to speak. The downtown Cleveland neighborhood has swelled to over 10,000 people. Though, that does not sound like a whole bunch, historically, people have not lived downtown in most big cities.
However, big cities like Cleveland, Detroit, Chicago, L.A., Minneapolis, and Hartford have seen a big rise in occupancy rates in their respective downtown areas. Downtown Cleveland has gone from just over 6,500 residents in 2000 to over 10,500 in 2010. That is an increase of over 4000 residents in just ten years!
Downtown housing markets are swelling to over capacity rates and it is excepted that new housing in some form is going to have to be added to accommodate the long waiting lists that exist in almost every district of the vast downtown area.
City planners, designers, landlords, and housing specialists have not yet decided what is the next logical step is, but all agree something will have to give soon or they could face a housing storage by the end of next year.
Reserve Square was built in 1969-1973. It rises 266 feet tall and features 25 floors of space. The building that houses the Embassy Suites Hotel also is home to the television studios of WOIO 19 and WUAB Channel 43.