Commune Capital has located, what we believe to be, a capstone project filled with exceptional profit margins and set to be a key component in the transformation of Richmond Heights, Ohio. Bringing residents a much needed shot of life to a location that was once a pillar of their community. Locations like this one were once a place of experience and connection, just as much as a place of retail shopping. Over the last decade with the growth of e-commerce, malls all across the country are left desolate and many residents are left without a central place for gathering. Our newest development is located in Town Square in the heart of Richmond Heights. Located 13 miles NE of Cleveland, this community and surrounding areas have experienced substantial growth over the last two decades. We believe it’s a prime location for revitalization to support the surrounding neighborhoods.
Commune has purchased the dilapidated Sears and adjacent parking lot area, approximately 22.2 acres, and will transform the entire parcel into it’s own amenity-rich live, work and play environment. Our mixed use property will include 375 apartments, with a four story covered parking lot with 662 parking spaces. There will be 10,000 square feet of ground level retail availability and a public park near the mall entrance. Also to be developed is a brand new, 8,000 square foot restaurant pad, adjacent to a four story hotel, complete with 100 additional parking spaces. Along with this Commune Capital investment opportunity comes an announcement from Amazon, Inc., over the next four fiscal quarters they’re committed to establishing 1,000 plus jobs to the city of Euclid, located only two short miles from our projected development site.
Commune understands that the next generation connects deeply with the environment in which they live. Now more than ever our target demographic is looking for their live space to encompass all of who they are; socially, professionally and most importantly personally. There’s no better time to develop this multi-use project, it will provide future residents a place to call home and a community to call their own.Visit Site