Press Releases
Landmark Management
Cleveland's Historic Warehouse District
July 01, 2005 —Taking a tour of the Landmark Management buildings in Cleveland's Historic Warehouse District is like surveying the history of Cleveland itself.
And it all started when John Carney and Bob Rains were looking to relocate their business and law offices in Cleveland. They took a look at the Grand Arcade and in 1992 decided to commit themselves to the warehouse district.
Their list of properties continues to grow with the opening of the Water Street Apartments last month and the impending buy of Otis Terminal, a 244 suite unit at the corner of West Ninth and St. Clair.
Other Camay & Rains properties in the district include the Grand Arcade on St. Clair and the Perry-Payne Building on Superior. Building on Superior. Firm believers in downtown, the company has also bought the Euclid and Colonial Arcades, located midway between Public Square and Playhouse Square.
The Grand Arcade, built in 1883, became the home to Pickands, Mather & Co., a giant in the iron ore industry. Samuel Mother's home on Euclid Avenue is the restored Mather Mansion at Cleveland State University. Today The Grand Arcade is home to 100 apartment units.
The Perry-Payne Building, designed by the architectural firm of Cuddell and Richardson in 1888, on the north side of Superior Ave. between West Sixth and West Ninth Streets, was an architectural triumph of its time, with architects and engineers traveling from all over the United States to inspect the structure. The conversion to apartments finished in 1996 and today there are 93 units for rent in the building, including studios and one and two bedrooms, ranging in price from $575 to $1,050.
The Water Street Apartments, which are now renting, are located in the Bardons and Oliver Building at 1133 West 9th Street, near the West Shoreway entrance ramp. The apartment consists of two buildings, one with four floors and the other, six floors. The main building, constructed in 1899, was designed by the firm of Hubbell and Benes, the same firm that designed the Cleveland Museum of Art, the West Side Market and Wade Chapel in Lakeview Cemetery, all historic landmarks in Cleveland.
The building, originally constructed for the Findley Brothers Company, a wholesale wallpaper concern, was described in an article entitled, "Cleveland - Its Architecture" by David Gibson in the June, 1902 issue of The Interstate Architect: "...there is no expense, to speak of, in its ornamentation" wrote Gibson, "Mr- Benes, evidently a believer in the principle that it costs no more to have something beautiful than to have something ugly, the same amount of labor and material being involved in one as in the other, it simply being a question of direction. He has applied simple principles and good proportion to this building and the effect is altogether creditable."
The six-story brick addition to the west, constructed in 1912 for Bardons and Oliver, one of the chief machine & tool firms in town, was designed by the George S. Rider Company with a tower at the west end and numerous large windows. George C. Bardons and John Green Oliver were former Warner and Swasey officials. Bardons and Oliver, Inc relocated to Harper Road in Solon in the mid-1990s.
Carney & Rains have mated 100 units out of the two buildings, some apartments on three levels and some two story. Almost 40 per cent of the building is already rented according to Claudia Madden, Director of Operations for Land¬mark Management, apartment managers for Carney & Rains.
"The great demand is for two bedrooms," explained. Madden. "Our clients are young professionals with annual income in the $50,000 to the $60,000 range. Five Years ago we had mostly male renters. but today it is evenly mixed between the sexes. And all our tenants don't work downtown. Some work in the suburbs and drive to the warehouse district to live. They want to be in the center of things. We have salesmen, administrative assistants, part time students and a lot of employees from Dillard's," she said.
One bedroom apartments rent for $680 to $1000, says Madden, and two-bedrooms go for $1,050 to $1200. The Water Street Apart¬ment project received some financing from HUD so there are also 20 moderate income suites. A one-bedroom rents for $485 if your income hovers around $16,000. A two-bedroom moderate income suite rents for $579, if your income is around $18,000, according to Madden.
"The more downtown is developed the more Clevelanders will want to live downtown" she said. "They feel safe now. That used to be a big concern. We have a little grocery, but need a big super market in this area."
Madden, who started running apartments for Marvin Helf, originally managed Terrace Park Apartments in East Cleveland. She later worked for Associated Estates before Carney & Rains.
"Every day is different. When you've done a good job it's very visible. My job allows for me to be creative and that's fun," she said.
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