Centric Apartments, the apartment complex being built in the University Circle area of Cleveland at 11601 Mayfield Road, will have 272 units for rent and is on track to be ready for occupancy Aug. 1, said Steve Rubin, a partner at Midwest Development Partners in Cleveland.
“We have about 60 percent (of the 272 units) as one-bedroom apartments, about 20 percent are two-bedroom units and the rest are studio apartments,” Rubin said. “There’s some variance in size, these aren’t stamped out cookie-cutter units.”
Rubin said Midwest Development Partners will open a pre-leasing office on the premises March 1, with a studio and one-bedroom unit open for viewing at that time for prospective renters. Rubin said all 272 units are rentals and not available for purchase, with rent scheduled to open at about $2.25 per square foot. Studio apartments will be in the 500 to 550 square-foot range, one bedroom units in the range of 850 to 900 square feet and two bedroom units will be in the 1,000 to 1,050 square-foot range. Rent for a 500-square foot studio apartment would be about $1,125 per month.
Rubin said Centric Apartments was geared more toward people in the age range of 25 to 40.
“That’s the graduate student, a young faculty member, a medical student,” Rubin said. “We think that will encompass the majority of our market (at Centric Apartments).”
The apartments will have quartz kitchen and bathroom counters, stainless steel appliances, wood-look vinyl plank flooring in living areas, carpeting in bedrooms, a walk-in shower, washer and dryer, and a keyless entry system.
He said Centric Apartments will be the connection between Cleveland’s Little Italy and Uptown neighborhoods and a nearby RTA bus station.
“It’s a very centrally-located project that we think is going to appeal to that age group who are traversing between (the Little Italy and Uptown) areas and want the convenience of being able to go back and forth between the two,” Rubin said.