First Interstate Announces Purchase of Oakwood Property in Cleveland Heights

First Interstate Properties, Ltd., announced today that it has land in Cleveland Heights.

The commercial development company behind Steelyard Commons and Legacy Village in December 2010, and since has pursued the Cleveland Heights land.

According to a press release issued today, “The preliminary concept for the Cleveland Heights parcel calls for a campus setting with a variety of living options for older adults, along with therapy and wellness facilities, retail, restaurants and civic use.”

The proposed development will include apartments for “active, healthy adults over the age of 55” and a retirement community with independent and assisted living options.

President of the Lyndhurst-based company, Mitchell Schneider, said in a press release that he has not yet met with Cleveland Heights officials about his ideas.

“We hope to preserve the 1905-vintage clubhouse and other amenities of the former country club and incorporate them for use by the residents, allowing them to enjoy an active lifestyle and age in place successfully on a campus environment,” Schneider said.

The land is currently zoned for residential development. First Interstate’s original plans called for a mix of parkland and residential and commercial properties — 69 acres of green space, 63 acres of retail and 22 acres of "high-end" residential properties. The land must be rezoned for the project to be completed.

its side of the land in June, but residents . After a back-and-forth battle between , which wants the property converted into a park, and First Interstate, the that South Euclid residents should vote on whether the land is rezoned.

“A Yes vote on Issue 96 is the first step to launch this mixed-use project and will more than double the green space already set aside in South Euclid,” Schneider said.

If Issue 96 fails, Schneider said 350 homes could be built on the property.

After the South Euclid portion was purchased, Cleveland Heights City Council meeting to voice their opposition to the developement.

City officials have not commented on the issue.

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