How the corner of Prospect and East Ninth could look in the near future.

Here's the release:

The K&D Group Announces New Details of Its $200 Million Redevelopment Plan for East Ninth Street and Euclid Avenue in Downtown Cleveland

Westlake Reed Leskosky retained as lead project architect, designs new building for project

WILLOUGHBY, Ohio (April 2, 2008) -- After submitting its bid today to purchase the former Ameritrust complex at East Ninth Street and Euclid Avenue from Cuyahoga County, The K&D Group is pleased to announce new details of its plans for a $200 million redevelopment of the site. As previously announced, The K&D Group intends to transform the complex into a complete, mixed-use lifestyle center encompassing almost 10 square city blocks.

In recent developments, The K&D Group has retained Westlake Reed Leskosky as lead project architect and design consultant for the project. In addition to providing architecture, mechanical, electrical, structural engineering, historic preservation services, and tax credit support, Westlake Reed Leskosky has designed a new 13-story building and revised the site plan.

The K&D Group has also retained CB Richard Ellis to market The K&D Group project to the Northeast Ohio business community and to represent The K&D Group in leasing transactions at the project. Colliers Ostendorf-Morris has been retained to handle the property management for all of the office space and the retail leasing for all the retail space for the project.

“For the past 30 days, The K&D Group has been undeterred in our commitment to make this project a reality. We have assembled a top-notch team of professionals and have been working with leading financial institutions, wasting no time in bringing about a renaissance of Cleveland’s central business district,” says Doug Price, CEO of The K&D Group. “The new 13- story building designed by Westlake Reed Leskosky is indicative of the project’s vision to link past and present to create a new future for Cleveland.”

Situated on the prominent corner of the complex, this new building bookends the Marcel Breuer Tower, opposite the historic Cleveland Trust Rotunda designed by George B. Post and opened in 1908. The atrium of the new building connects the ground floor and the “connector level” at the bridge from the parking garage to the Tower and Rotunda. These lower floors become public gathering spaces (retail, cafes, etc) that build on the rich history of arcades in Cleveland, allowing pedestrian activity to pass through the building while still linking building programs.

The historic Rotunda and Tower are integral to the development of this proposal. The ornate nature of the Neo Classical Rotunda – boasting its stained-glass dome and Francis Millet murals – contrasts with the stark power of the minimalist black granite Breuer lobby, creating a dramatic threshold to a new boutique hotel and luxury residences within the Tower.

It is with the same understanding of Breuer’s approach to designing adjacent to a landmark that Westlake Reed Leskosky approaches this new building. A four story base connects pedestrian activity and hotel / banquet functions to the Tower. The building then shifts off the grid of East 9th to genuflect towards the Breuer Tower. In doing so, the upper floors reach out over the sidewalk providing views along East 9th and to the lake. The taut glass skin and pattern interpret the Modernist formal strategies and the Neo Classical repetitive patterning.

Other updated details of The K&D Group’s plans include:

• The Tower and Rotunda Building will be redeveloped into a luxury boutique hotel on the lower floors (approximately 170 rooms), with 200 residential suites on the upper floors. The Rotunda will be transformed into a grand ballroom for the hotel. The K&D Group expects to announce the hotel group within 30 days.
• The H&P Buildings will be demolished and replaced with a new Class A office building of 200,000 to 350,000 square feet with a signature tenant who will receive naming rights to the building. In addition, 50,000 to 100,000 square feet of retail is slated for the mall level. Discussions are well underway for the majority of the tenants needed to fill this office building.
• The 944 Prospect Avenue Parking Garage will be demolished and a new, multi-story garage will be constructed, providing 600 parking spaces.
• The 1010 Euclid Avenue Building is being studied for redevelopment, with options including luxury condominiums or an additional office tower.

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ABOUT THE K&D GROUP, INC.: One of northeast Ohio’s largest privately-owned real estate development firms, The K&D Group owns and manages over 13,000 residential units and employs over 400 people throughout northern Ohio. Founded 24 years ago by Karen Harrison and Doug Price, The K&D Group developed the Stonebridge residential complex on the west bank of the Flats in downtown Cleveland. Their other holdings include The Embassy Suites Hotel at Reserve Square and Reserve Square Apartments.
The K&D Group, Inc.
4420 Sherwin Road
Willoughby OH 44094
440-946-3600
www.thekdgroup.com
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ABOUT WESTLAKE REED LESKOSKY: Westlake Reed Leskosky provides comprehensive
fully-integrated design and management services, including architecture, engineering, interior architecture and design, master planning, programming, and feasibility studies. The firm as a nationally-recognized specialization in detailed historic preservation and adaptive re-use projects – including those involving buildings of the recent past as well as historic and new markets tax credits. Westlake Reed Leskosky also has an extensive portfolio of new commercial office work in urban settings. With a professional staff of 135, Westlake Reed Leskosky has offices in
Cleveland, Washington D.C., and Phoenix, Arizona.
Westlake Reed Leskosky
925 Euclid Avenue, Suite 1900
Cleveland OH 44115
216-522-1350
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ABOUT CB RICHARD ELLIS: CB Richard Ellis Group, Inc. (NYSE: CBG), an S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2007 revenue). With over 29,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. In 2007, CB Richard Ellis was named one of the 50 “best in class” companies by BusinessWeek, and one of the 100 fastest growing companies by Fortune. Please visit our web site at www.cbre.com.
CB Richard Ellis
200 Public Square, Suite 2560
Cleveland OH 44114
216-363-6425
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ABOUT COLLIERS OSTENDORF-MORRIS: Colliers Ostendorf-Morris is the largest, full service commercial real estate firm in northeast Ohio. With local offices in Cleveland, Akron, and Pepper Pike and as part of an organization of over 250 offices in 57 countries, the experienced professionals of Colliers Ostendorf-Morris provide clients with customized and creative solutions, consistently superior service, and the most comprehensive real estate services and worldwide coverage in the global marketplace.
Colliers Ostendorf-Morris
1100 Superior Avenue, Suite 800
Cleveland OH 44114
216-861-5087
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