Cumberland  Development, LLC

Adding value to underperforming properties in Northeast Ohio.

We add value through creative design solutions, taking advantage of sustainable design and green technologies.

We create economic benefits for the company and the property users as well as the community as a whole.

Projects

Downtown Cleveland Lakefront Development

June 11, 2016

In 2014, Mayor Jackson selected a joint venture of Trammell Crow Company and Cumberland Development, LLC to be the developer of the North Coast Harbor.

The plan creates a vibrant mixed-use neighborhood. The project will add over 1,000 apartments and 80,000 SF of office and 50,000 SF of retail space to the city’s central business district. The neighborhood will also have a high quality school to attract young professionals who want to stay in the city to raise their families.

The development has been approved by Cleveland City Council for the 20+ acre site, situated around North Coast Harbor and north of the Cleveland Browns’ stadium. The area formerly comprised docks for the Cleveland-Cuyahoga County Port Authority.

5th Street Arcades

January 01, 2012

The 5th Street Arcades are comprised of the Colonial Arcade (1898) and the Euclid Arcade (1911), which run parallel along East 4th and East 6th Streets and are bound by Euclid and Prospect Avenues at each end. In 1898, the Colonial Arcade opened alongside the Colonial Hotel, connecting the hotel to Euclid Avenue with a shopping arcade. The Euclid Arcade followed in 1911 and, in 2000, both arcades were connected as part of a multi-million dollar project that also included the reopening of the hotel as a Marriott Residence Inn.

 

In 2012, Cumberland Development assumed management of the retail portions of these historic shopping arcades, and has since taken the property from half empty to nearly full occupancy over a span of just nine months. Last Spring, Cumberland partnered with the City of Cleveland, the Downtown Cleveland Alliance and Charter One Bank to facilitate a Retail Development Grant Competition in support of Cleveland’s young entrepreneurs and their startup retail businesses. Cumberland’s creative approach, centered on repositioning the facilities to create a uniquely Cleveland shopping experience for the downtown market, has resulted in what is now a lively shopping destination buzzing with pedestrian traffic.

Baker Electric Building

June 11, 2006

From the very start, Baker Electric Building was a place of innovation. In 1910, architect Frank B. Meade designed the Baker Electric Motor Car Building for Walter C. Baker, a pioneer of electric cars, as his first car showroom. The building is listed on the National Register for Historic Places as a historic and architectural landmark. The building is also being redeveloped utilizing green and sustainable design practices and is applying for LEED Silver Certification.

A century later, Northeast Ohio faces a shortage of incubator and post-incubator space for technology companies. The historic redevelopment of the Baker Electric Building addresses this need by providing 52,000 square feet of office and wet and dry lab space for emerging local companies.

Current tenants include Bunge BiPHOR, an innovator in pigments and coatings, Volcano Corporation, developing intravascular ultrasound technology in association with the Cleveland Clinic and Diagnostic Hybrids, Inc. who research and develop molecular diagnostic kits. Other tenants include iNetworks, a venture capital group from Pittsburgh and Cumberland Development, LLC, a real estate developer.

The project is working toward the creation of over 100 new high tech jobs in inner-city Cleveland. As these tenants continue to grow, it's anticipated that they will contribute substantially more employment and tax revenues to Cleveland's economy.

A real estate partnership of Cumberland Development, LLC, New Era Builders and Ariel Ventures bought the building in June of 2006 and immediately began renovation. In May of 2007 Bunge and Volcano moved in as the first tenants.

The $7.1 million project was made possible with the support of NDC's New Markets Tax Credits Program and $1 million from Cuyahoga County's Brownfield Redevelopment Fund.

Cleveland Clinic Foundation Business Operation Center

January 01, 2002

The Cleveland Clinic Foundation Business Operation Center was originally developed in 1957 as the Republic Steel Research Center. It was conceived as the "state of the art" center for steel research.

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Management

Richard Y. Pace, AIA, FACHA

Chief Executive Officer

Jeanne McMaster, CPA

Chief Financial Officer

Catherine Pace

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Cumberland Development LLC

Harbor Verandas Leasing

1050 East 9th Street

Cleveland, OH 44114

 

Contact

Richard Pace

(216)407-7580

rpace@cumberland-development.com