Third phase expected to bring more to Flats East Bank

Third phase expected to bring more to Flats East Bank

Even more development is coming to the Flats East Bank in Cleveland.

Developer Fairmount Properties says Clevelanders are overwhelmingly embracing the opportunity to come back to the riverfront. About 1,200 people came through the door at The Big Bang Saturday night alone.

"The apartments are leasing so fast and the demand so strong for this live, work, play environment that we're going to complete West 11th Street," said Adam Fishman.

The plans are to replace the surface lot between phases one and two with at least 100 more residential units, a dine-in movie theater, possibly more restaurants and lots of retail.

That's something that's been an easier sell recently.

"Now retailers are beginning to find us. So we're going to have the opportunity to choose what we think will be the greatest opportunities to complete the Wolstein family's legacy," said Fishman.

JT Kalnay moved in just last week.

"The restaurants, the boardwalk, the new swimming pool. It's all very exciting. It's a lot of fun," he said.

Kalnay would like to see more amenities for those committing to this budding neighborhood.

"More restaurants, of course. There's a Constantino's up the hill. If they put a little Constantino's down the hill that would be great," he said.

Fabio Salerno was the first tenant to sign on for phase one, and he has never looked back.

Moving his restaurant, Lago, from Tremont to The Flats East has tripled his business.

"Now with the other businesses helping and coming down here and drawing attention, from a marketing standpoint. It's put us back on the map here," Salerno says.

He says when it comes to new neighbors from phase three, the more, the merrier!

"People are coming down here to check out it. There's a lot of buzz. It's very beneficial," Salerno says.

Once leasing is complete on the second phase, they will begin leasing for the third phase.

Developers hope to break ground in early 2016.

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