The developers behind Clifton Pointe — the 17 luxury townhomes along the Rocky River on Sloane Avenue — are eyeing another multi-million-dollar project across the street.
With only a few units remaining in the first phase of development, Abode Living is working on plans to build additional units on the property most recently occupied by Irish Cottage.
The gift shop specializing in Irish gifts, closed several years ago. It’s been vacant since.
That building, as well as the structure just to the north, would be demolished to make way for as many as six new townhomes.
Andrew Brickman of Abode Living said that he’s proposing architectural plans to the city this week.
“We’ve already got three buyers lined up,” he said, adding that most of the units in the first phase are already spoken for. “It’ll make a tremendous difference in that neighborhood.”
Clifton Pointe “Phase Two” would be complimentary in its “classic modernism” style and is expected to look similar to its sister project across Sloane Subway.
That $10 million project broke ground earlier this year, with residents expected to move in by summer.
“We’re thrilled with the success we’ve had with Phase One,” Brickman said.
He said if all goes according to plan, construction of the new project could be finished by the beginning of 2014.
“It will really anchor that whole neighborhood,” Brickman said. “It’ll help the property values and it will bring in many new families.”
Earlier this year, Lakewood City Council granted Clifton Pointe a 10-year tax abatement, and Brickman said he would seek another tax abatement for the new project.
Dru Siley, the city’s director of planning and development, said that the new townhomes would be “a nice compliment to the project” across the street.
“It diversifies our housing stock,” Siley said. “It does bring in new residents to Lakewood. And it also begins redevelopment of our riverfront — that’s something that hasn’t been done in 40 years. They’ve had very good success across the river in Rocky River. And they think this is a good investment on this side of the river.”
Siley said that the neighborhood has “a lot of potential” for future development.
“I think this could expand our reach as far as people looking to develop the riverfront — even though there is only about 800 feet of riverfront,” he added.