Flats at East Bank Apartments - Cleveland

FLATS EAST BANK

FLATS EAST BANK


Flats East Bank redevelopment is a partnership between The Wolstein Group and Fairmount Properties driving $750 million in waterfront redevelopment with an 18 story office tower, trendy hotel, state of the art fitness club, and a range of local restaurants. Fall 2015 marked the completion of Phase II with even more amenities to the growing riverfront district as it added 241 unit high-end residential, restaurants, entertainment venues, and extensive riverfront boardwalk.

THE BIRTH OF A DREAM


The late Bert L. Wolstein and his wife, Iris S. Wolstein, started Developers Diversified Realty, which grew into a successful national real estate development company. They later opened Heritage Development. Bert and Iris have long been generous to Cleveland – having donated more than $40 million to local hospitals, colleges and other institutions. Mr. Wolstein worked for more than 25 years to transform the rundown Flats East Bank into a first-class, vibrant, accessible riverfront. After he passed, Iris, along with her son Scott, executive chairman at Developers Diversified Realty, as partners in The Wolstein Group, continued to pursue Bert’s vision. In 2005, after they rigorously worked with multiple parties to assemble land and financing, Iris and Scott unveiled their ambitious plans for this landmark development and even after the project was precipitously slowed by the Great Recession, Iris remained determined to see the development occur.

REALITY IN MOTION


“Today is finally the beginning of implementing my husband’s vision for the Flats,” Mrs. Wolstein said. “He worked so hard in his lifetime to make this project a reality. He wanted the Flats to be a showcase for the city of Cleveland. While it has been a very long and treacherous road to get to today, this family collaboration will benefit our hometown and give the city a vibrant showcase for all of us and future generations of Clevelanders to enjoy. While we have done many projects that have reaped financial benefits Scott and I share great joy in moving this labor of love forward,” she added. “I know Bert is smiling on us now. Maybe now Cleveland will be known as the Legend on the Lake.”

BUILDING THE FUTURE


The future of The Flats East Bank is looking very bright. “This isn’t just another entertainment district – it’s a catalytic neighborhood that’s going to place this city on the map as an urban waterfront destination,” Scott Wolstein said of the revitalization of the area. “The redevelopment of the Flats East Bank was my father’s dream but he never got to see it materialize. We knew the potential was vast, but now to see the blood, sweat and tears of the last few decades come to fruition is very gratifying,” said Scott. Driving more people to live, work and play, downtown, will only benefit the city. “I want Greater Clevelanders to be excited about this project and what it means for the future of Cleveland.”

THE BIRTH OF A DREAM


The late Bert L. Wolstein and his wife, Iris S. Wolstein, started Developers Diversified Realty, which grew into a successful national real estate development company. They later opened Heritage Development. Bert and Iris have long been generous to Cleveland – having donated more than $40 million to local hospitals, colleges and other institutions. Mr. Wolstein worked for more than 25 years to transform the rundown Flats East Bank into a first-class, vibrant, accessible riverfront. After he passed, Iris, along with her son Scott, executive chairman at Developers Diversified Realty, as partners in The Wolstein Group, continued to pursue Bert’s vision. In 2005, after they rigorously worked with multiple parties to assemble land and financing, Iris and Scott unveiled their ambitious plans for this landmark development and even after the project was precipitously slowed by the Great Recession, Iris remained determined to see the development occur.

REALITY IN MOTION


“Today is finally the beginning of implementing my husband’s vision for the Flats,” Mrs. Wolstein said. “He worked so hard in his lifetime to make this project a reality. He wanted the Flats to be a showcase for the city of Cleveland. While it has been a very long and treacherous road to get to today, this family collaboration will benefit our hometown and give the city a vibrant showcase for all of us and future generations of Clevelanders to enjoy. While we have done many projects that have reaped financial benefits Scott and I share great joy in moving this labor of love forward,” she added. “I know Bert is smiling on us now. Maybe now Cleveland will be known as the Legend on the Lake.”

BUILDING THE FUTURE


The future of The Flats East Bank is looking very bright. “This isn’t just another entertainment district – it’s a catalytic neighborhood that’s going to place this city on the map as an urban waterfront destination,” Scott Wolstein said of the revitalization of the area. “The redevelopment of the Flats East Bank was my father’s dream but he never got to see it materialize. We knew the potential was vast, but now to see the blood, sweat and tears of the last few decades come to fruition is very gratifying,” said Scott. Driving more people to live, work and play, downtown, will only benefit the city. “I want Greater Clevelanders to be excited about this project and what it means for the future of Cleveland.”

Flats East Bank – EarthCam Time Lapse Video