CLEVELAND HEIGHTS, OH, 6/1/2023 - The Ascent at Top of the Hill has completed the major construction phase of the project as leasing of the residential apartments and commercial spaces is underway. The highly anticipated $83 million mixed-use project includes 261 residential apartments, 11,000 square feet of commercial space, a 550 space parking garage, and 25,000 square feet of green space.
The City and its development partner, Flaherty & Collins, will hold a grand opening later this summer to celebrate the completion of this infill project on what was previously an underutilized surface parking lot.
Top of the Hill Develoment Project Closing Sets Stage for Start of Construction Highly Anticipated Development to be Gateway to Cleveland Heights
CLEVELAND HEIGHTS, OH, 5/5/2020 - The City of Cleveland Heights has taken the final step in preparation for the construction of the Top of the Hill project, a catalytic development at the gateway to Cleveland Heights. On Tuesday, City officials, and the City’s Development Partner, Flaherty & Collins, finalized the closing on the project site, essentially turning the project over for construction of this highly anticipated $83 million mixed-use redevelopment.
"While the City remains focused on the challenges the COVID-19 crisis has created for our entire community in the weeks and months ahead, we are excited to be able to move forward with this project," City Manager Tanisha Briley said. "It represents a major new investment and positions the City for additional growth and development in the future."
The Top of the Hill is expected to include 261 market-rate luxury apartments, over 11,000 square feet of first floor commercial/retail/restaurant space, close to 25,000 square feet of green space, and a structured parking garage resulting in approximately 550 parking spaces. The construction schedule projects completion of the development in the first half of 2022.
The City anticipates significant economic benefits from the Top of the Hill development. As a result of the development of this project, the City anticipates receiving a projected $14,300,000 in net new revenue over a 32-year timeframe. In addition, it is projected that the project will generate over $12,300,000 in new taxes and compensation for the CH-UH school district, over a 30-year period.