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Monday, August 27, 2007

Ferchill nixes plan for Flats project via crain's

By JAY MILLER4:30 am, August 27, 2007

The Ferchill Group is abandoning plans for a residential complex in the Flats, and as a result, Cuyahoga County has rescinded a $1 million brownfield cleanup loan for the project.

County commissioners took the action after notification from the developer that it won’t proceed with Riverside Landing, a proposed $22 million, 88-unit residential complex on Scranton Road along the Cuyahoga River.

The company told the county that high development costs and a changing housing market scotched the deal.


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