Flaherty & Collins Properties broke ground on The Marquee at Cedar Lee, a $60 million mixed-use luxury apartment development in Cleveland Heights, Ohio, last week. The property, due online by spring 2025, will have 204 residences and more than 8,500 square feet of commercial retail space when completed.
Located at 2223 Lee Road in the historic Cedar Lee District, the 230,108-square-foot development had previously been known as the Cedar-Lee-Meadowbrook project. The Marquee is Flaherty & Collins Properties’ second project in Cleveland Heights. In May 2020, the Indianapolis-based firm began construction of The Ascent at Top of the Hill, a 261-unit, mixed-use project with 11,000 square feet of commercial space. That property began leasing last year.
The Marquee at Cedar Lee will have studios and one- and two-bedroom apartments. Amenities will include a resort-style saltwater pool with a wet deck, a courtyard with fire pits, an outdoor sky lounge, grilling stations, a pet spa and a bark park, as well as a fitness center with studio fitness programming, coworking office suites and a 24-hour market. The development will offer 225 parking spaces at its parking garage and 42 surface lot spaces surrounding the property.
The Marquee, like The Ascent at Top of the Hill, was developed through a public-private partnership with the City of Cleveland Heights. First National Bank of Omaha provided the construction loan for the project. Snavely Group is the general contractor. City Architecture and Project Management Consultants are also project partners.
Major Midwest presence
Flaherty & Collins Properties, founded in 1993, is a developer, builder and manager of mixed-use, multifamily properties, with more than $500 million worth of projects under development in Cleveland Heights, Columbus and Cincinnati and other cities throughout the Midwest and South. The firm manages 86 properties and nearly 15,000 units of multifamily housing across eight states.
In September, the company announced plans to build a $200 million, 420-unit mixed-use project in Steelpointe Harbor, a Bridgeport, Conn., master-planned development. Along with its partner RCI Group, Flaherty & Collins will also be developing 10,000 square feet of commercial space at Steelpointe Harbor located off Bridgeport’s waterfront. It will be the company’s first development in the Northeast.
