This website serves as the landing place for detailed information throughout the Downtown Development Process.  Please continue to check the website for updates.

Community Update October 18, 2024

The final approval process for the Downtown Development project has now moved through two of the three required review steps – with Planning Commission providing approval in early September and Architectural Board of Review (ABR) providing approval last week (Thursday, October 10^th).

In addition to the plans provided to ABR at their Sept 25 meeting (link below in the Oct 1 update), an additional design package was provided at last week’s meeting – available here.

The project is on track to advance for its third and last step with Lakewood City Council, who will proceed with their review once the project hits their docket – slated for next month.

Community Update October 1, 2024

Last week, the Administration provided an update to City Council on the Downtown Development project at their Committee of the Whole meeting (Sept 23^rd) while the Architectural Board of Review (ABR) met on Wednesday (Sept 25^th)  to continue their review of the project plans (available here).

ABR will meet again on the project at their next/upcoming regular meeting (Thursday, October 10^th) – with the goal to advance the project to City Council this month.

Community Update September 13, 2024

Last week, at their September 5^th meeting, the City’s Planning Commission (PC) provided their final approval for the Downtown Development project.  The project now continues under review by the Architectural Board of Review (ABR) – still working towards advancing the project to City Council by late October.

As part of the Planning Commission approval – we have added the Proposed Plat, Use Table/Map, and Traffic Impact Study to the “Project Resources” drop-down menu to the right.

The next review meeting will be with ABR on Wednesday, September 25^th at 6pm in the City Hall Auditorium.

Community Update August 30, 2024

Over the past two months, the final review for the Downtown Development project has gotten underway.  Guided by the City’s zoning code for planned developments, this final review process has started with the project team, led by CASTO and Dimit Architects, working collaboratively in joint public meetings with the City’s Planning Commission (PC) and Architectural Board of Review (ABR).   These initial joint meetings during July and August have resulted in refinements to the details of the project in response to Board and Commission member recommendations as well as the comments and recommendations of those members of the public in attendance.

The key elements of the Downtown Development project include:

• Provides for/introduces new retail space.
• Provides needed affordable housing units.
• Creates opportunity for a unique, urban community space in the heart of downtown.
• Preserves the designated historic exterior of the Curtis Block Building.
• Adds public structured parking to support the development’s uses and surrounding area.
• Positions the site to serve as a catalyst for additional opportunities in downtown.

On 21 August, the City and Project team hosted a community open house at the Cove Community Center where members of the public had the opportunity to review the project and discuss the site plan and building designs with representatives from the Department of Planning & Development, CASTO, and Dimit Architects.  The comments and recommendations from this open house will be considered and integrated into further refinement of the project as it continues review with the upcoming normal September public meetings of the Planning Commission (Sept 5^th) and Architectural Board of Review (Sept 12^th).  The project is anticipated to advance to City Council for their review by mid-to-late October.

Community Update August 8, 2024

This week, the second Joint PC/ABR review meeting was held on 6 August at 6pm in the City Hall Auditorium.  Casto presented an updated plan in response to the recommendations provided by Board & Commission members as well as members of the Public at the 23 July meeting.  Among the substantive updates were improvements to the:

• Streetscape and pathway elements along all sides of the development;
• Curtis Block to renovate/retain both first floor retail spaces and second floor apartments;
• Vehicular entry/exit points from the parking garage;
• Pedestrian flow between the parking garage and residential buildings; and
• Design of the green/open space in front of the southern apartment building.

You can click here to view the updated presentation and here to watch the video from the 6 August meeting.

The next meeting will be a community/public open house on the project slated for Wednesday, 21 August at 7pm (Cove Community Center).

PC/ABR review will continue in early September at their normally scheduled meetings.

Community Update July 24, 2024

Since the last update (April), CASTO continued to revise/refine their plan while working closely with representatives of a grocer to bring a new 40,000 square foot neighborhood market to the project.  However, despite best efforts from all involved parties, the grocer made the difficult decision to discontinue the establishment of any additional locations of its neighborhood market model – requiring them to depart the project.  Since that decision, CASTO has worked to revise the project – modifying and improving the site design to provide additional parking, increase the size of the public plaza, and maintain 28,000 square feet of flexible, ground-level retail space surrounding the plaza area.

On 16 July, CASTO provided their formal submittal to begin the final planned development review process.  This process will first see a series of Joint meetings with the Planning Commission (PC) and Architectural Board of Review (ABR) working together to go through the project plan using the design principles within the City’s Planned Development code (Chapter 1156), the Development Objectives and Council Priorities for the project, and other references as a guide.  In addition to the regular opportunities for public comment at these Joint PC/ABR meetings, the City will also be working with CASTO to provide additional public engagement opportunities during the upcoming months as the project progresses through the review process.  Once PC and ABR provide their final approvals, the process will continue to final review by City Council.  Provided Council approval, the project can then shift into final preparation for implementation/construction.

This week (23 July), the first Joint PC/ABR review meeting was held at 6pm in the City Hall Auditorium – you can click here to view the presentation from this review meeting.  You can also watch the video to hear the discussion and public comments here.

Community Update April 22, 2024

Since the September 19, 2023 update, City staff and CASTO have continued to evaluate the best path forward for the Downtown Development Project.  While pursuing this effort, CASTO and the City re-engaged with representatives of a grocer who previously had expressed interest in the site but could not be accommodated due to other programming of the site.  Those conversations were very productive and resulted in CASTO and the grocer executing a Letter of Intent (LOI).

This grocer offers smaller, mixed use neighborhood markets serving local, urban communities. With a much smaller footprint (30,000-40,000 square feet) than a typical big box suburban grocery store, the neighborhood market concept stores operate similar to a boutique grocer that fits well with Lakewood’s priorities for the downtown development site.

While smaller in overall size, these stores still offer a wide assortment of merchandise including fresh meat and deli items, fresh produce, a bakery, and both value and national brand items. Additionally, this grocer is renowned for their efforts in carrying thousands of local products – from fresh produce to artisan groceries and more – as well as hosting educational and community events.  The neighborhood markets also offer a café serving local coffees, beverages, and meals prepared from local foods.

The addition of a grocer to the project also:

• Fulfills a market need with specialty grocery and provides additional grocery options in Lakewood instead of resident income “leaking” to neighboring communities;
• Complements our existing local, independent downtown businesses;
• Activates the site with mixed use development that is compatible and supportive of the surroundings;
• Provides additional opportunities for fresh, quality foods;
• Creates new and better opportunities for public and green space in the site; and
• Maintains all of the original development objectives the community established in pursuing this development.

As a result of the LOI being executed, City staff and CASTO have started to dive deeper into the design elements that will accommodate the neighborhood market footprint.  The previous layout of the site remains largely intact, including the provision of central public space.  While there is work to be done to finalize the site and building design as well as to convert the LOI into a lease agreement, the City anticipates receiving a formal submittal for these aspects of the project in the near future.

Click here to view the presentation from the 4.22.24 Committee of the Whole Meeting regarding the Downtown Development Project

Watch the 4.22.24 Committee of the Whole Meeting below discussing the Downtown Development Project

 

Community Update September 19, 2023

On Monday evening, CASTO and North Pointe Realty (NPR) provided an update to City Council Committee of the Whole on the status of the Downtown Development project.  CASTO and NPR spent the summer updating estimated construction pricing and analyzing the current rental market.  While there are positive signs, there are challenges related to inflation, rising interest rates and tightening debt and equity markets for large projects such as this.  As a result, CASTO and NPR are exploring opportunities to phase the project build-out in a manner that addresses these challenges.  Over the next 60-90 days CASTO, NPR, and the City will be exploring the feasibility of phasing.  If a path forward is identified, CASTO and NPR will advance the preliminary approvals that have been issued to final approvals for the entire site and move forward with the first phase of construction.  The video of the Committee of the Whole meeting can be found here.

Community Update February 15, 2023

Mayor George’s Update on the Downtown Development

Our team at City Hall continues to work towards achieving the community vision for the Downtown Development on the former Lakewood Hospital site with our development partner, CASTO / North Pointe Realty. The City and CASTO have been diligently working through the complex layers of site planning, architecture, engineering, finance, and legislative and administrative review necessary to meet our local requirements. However, the City recently received new information from one of the intended end users which will shift some of the ultimate utilization of the site.

Roundstone Insurance has informed the City that its needs and priorities have changed. Roundstone desires to fully own and be sole user of the facility for their office, which is impossible to achieve within the community priorities for a mixed-use development that advances multiple community priorities and goals. With this information, it’s clear that the mixed-use vision Lakewood is pursing in our downtown development no longer aligns with the corporate vision Roundstone has for its headquarters.

The City is now aware that while our Planning & Development Department and CASTO methodically worked through the development process, Roundstone was actively exploring alternative options where it could establish its headquarters on a single-user site with no shared ownership.  While the City is disappointed that Roundstone’s shift in corporate priorities caused it to exit our downtown development project, and while the increases in interest rates and ongoing volatility in construction costs have also presented ongoing challenges and delays for the development, the project remains largely unchanged and our community vision remains intact. Roundstone’s exit means that the space previously intended to be office space will now be built as housing. So, despite Roundstone’s choice, our goal remains to have shovels in the ground as soon as possible.

The City and CASTO remain committed to the overall community-informed vision for the development, which includes:

• the largest construction of new, market rate residential units in Lakewood in over 50 years;
• the largest development of affordable housing units in Lakewood in nearly 50 years;
• the creation of a new urban community space to serve Downtown Lakewood;
• the creation of new jobs and tax base to support City services;
• the addition of new retail and commercial destinations in our downtown; and
• the preservation of the historic presence of the Curtis Block architecture.

Based on the known market demand for more new housing and additional affordable housing units, the proposed Roundstone building will likely be replaced by a 5-story mixed-use building with four floors of residential units over first floor retail and commercial uses.  This allows us to further our housing goals by bringing to market more total units in a mixed-income approach with people of high incomes, middle-incomes, and more limited incomes to find a home in the development.  In 2019, our Community Reinvestment Area (“CRA”) program was revised to allow for developers to tap into a 15-year tax abatement if 20% of the total units were deemed affordable under Department of Housing and Urban Development guidelines. Additionally, a project of this scale will be highly beneficial in helping Lakewood alleviate market demand and, by doing so, keep existing affordable units from being flipped into high-income units.

The Mayor’s Office and department directors continue to actively work with City Council, Lakewood City Schools, and the relevant City boards and commissions to ensure that the final project vision will be delivered in a timely fashion. CASTO is currently reassessing the project financials as a result of this change, and in the meantime, we remain focused on delivering this transformative project for the people of Lakewood.

Community Update December 13, 2022

The Architecture Board of Review (ABR) held a special meeting on December 13, 2022  to review the approved Preliminary Plan for the Downtown Development.  The ABR unanimously referred the proposal back to the Planning Commission for consideration of the Final Plan.  This referral confirms the Preliminary Plan, with the noted conditions, is generally in conformance with the applicable design regulations and the CASTO/North Pointe Realty development team can proceed with detail design plans (also known as the Final Plan).

The presentations can be viewed by clicking here and here.  The recorded discussion can be viewed by clicking here.

Community Update November 10, 2022

The Architecture Board of Review (ABR) held a regular meeting on November 10, 2022  to review the approved Preliminary Plan for the Downtown Development.  The purpose of this meeting was primarily to focus on proposed changes in the design for the Curtis Block.

The presentation can be viewed by clicking here.  The recorded discussion can be viewed by clicking here.

Community Update October 28, 2022

The Architecture Board of Review (ABR) held a special meeting on October 26, 2022  to review the approved Preliminary Plan for the Downtown Development.

The recorded discussion can be viewed by clicking here.

Community Update September 8, 2022

The Architecture Board of Review (ABR) met at their regularly scheduled time to review the approved Preliminary Plan for the Downtown Development.  The presentations can be viewed here and here.

The recorded discussion can be viewed by clicking here.

The review of the approved Preliminary Plan was deferred (continued) until the next meeting which will be held on Thursday, October 6, 2022 at 5:30 pm.  Please note this schedule is tentative and subject to change.  Please check the ABR agenda prior on the City Calendar to the meeting.

Community Update August 25, 2022

On September 6, the City will begin the next phase of stormwater improvements to the Downtown Site to eliminate temporary pumps installed during the demolition and remediation of the former buildings. Pending weather delays, this work will be complete on or before December 15.

Click here for more information about the work being done.

Community Update July 14, 2022 

The Architecture Board of Review met at their regularly scheduled time to review the approved Preliminary Plan for the Downtown Development.  The presentation can be viewed here. The recorded discussion can be viewed by clicking here.

The review of the approved Preliminary Plan was deferred (continued) until the next meeting which will be held on Thursday, August 11, 2022 at 5:30pm.

Additionally, on Thursday, July 21, 2022, at 5:30pm CASTO and North Pointe Realty will be hosting a Neighborhood meeting to discuss their proposed plans for the downtown development site.  They will be sharing details about the proposed development, allowing neighbors to share their thoughts,  and answering questions. The meeting will take place at the Roundstone Insurance office, 15422 Detroit Ave.

Community Update June 30, 2022 

Last night,  Planning Commission unanimously approved the preliminary plan for the Downtown Development.  The preliminary plan includes setbacks, massing, uses, and a preliminary plat as shown in the preliminary packet.  This approval allows the CASTO/North Pointe realty development team to move on to the next step of the Planned Development process and begin design discussions with Architectural Board of Review at their meeting on July 14th.  

 

 

Community Update June 3, 2022 

Planning Commission met at their regularly scheduled time to discuss the preliminary plan for the downtown development.  The presentation can be viewed here. The recorded discussion can be viewed below. 

The preliminary approval was deferred until the next meeting which will be held WEDNESDAY, JUNE 29 at 6 PM (note change in date/time due to 4th of July holiday). 

Community Update May 18, 2022 

Last night, Planning Commission and Architectural Board of Review held a joint meeting to introduce the Downtown Development and the Planned Development process.  This was the first meeting with the Board and Commission for the several month approval process as outlined below. 

Planned Development Approval Process 

1. Planning Commission reviews and approves plan for preliminary approval 
2. Architectural Board of Review begins review of site plan and elevations 
3. Planning Commission approves final development 
4. Architectural Board of Review approves site plan, elevations and materials 
5. City Council approves Final Planned Development 

The slides from the development team can be viewed here.  

Click here to view the recorded meeting.

 

Community Update May 3, 2022

On Monday, May 2nd, Lakewood City Council held their final Committee of the Whole meeting to discuss the proposed Downtown Development project.  At the general meeting of Lakewood City Council later that evening, City Council unanimously passed a resolution authorizing final negotiation of a development agreement with CASTO for the redevelopment of the former Lakewood Hospital site under the Term Sheet. Click here to view the signed resolution.

Watch the videos from the 5/2/22 Committee of the Whole meeting and the Lakewood City Council meeting below:

 

Community Update April 29, 2022

On Thursday, April 28th, Lakewood City Council’s Committee of the Whole met to continue their discussion regarding the proposed Downtown Development Project.  Watch the video from that meeting below.

 

Community Update April 26, 2022

On Monday, April 25th, Lakewood City Council’s Committee of the Whole met to continue the discussion regarding the proposed Downtown Development Project.

Click here to view the exhibits from the meeting.

Watch the video from that meeting below.

 

Community Update April 18, 2022

On Monday, April 18th, Lakewood City Council’s Committee of the Whole met to continue the discussion regarding the proposed Downtown Development Project.  Watch the video from that meeting below.

Community Update April 14, 2022

On Monday, April 11th, Lakewood City Council’s Committee of the Whole met to continue the discussion regarding the proposed Downtown Development Project.

Click here to view the exhibits from the meeting.

Watch the 4/11/22 Committee of the Whole meeting below.

Community Update April 5, 2022

Watch the 4/4/22 Committee of the Whole meeting to see the discussion regarding the proposed Downtown Development Project.

Click here to view the April 4th presentation to City Council regarding the Downtown Development Proposed Conceptual Plan & Term Sheet.

Community Update March 30, 2022

City of Lakewood Recommends Plan to Redevelop Former Lakewood Hospital Site
Mixed-use project will keep a rapidly-growing business in Lakewood while adding hundreds of housing units, retail space, and a public plaza

On Monday, April 4^th, Mayor Meghan F. George and the City’s Planning and Development Department will present the term sheet for redevelopment of the former Lakewood Hospital site in downtown to Lakewood City Council. Key to the deal is an agreement for the rapidly-growing Roundstone Insurance to remain in Lakewood by occupying a new multi-story Class-A office building at the corner of Belle and Detroit Avenues.

“This agreement is a significant win for Lakewood on multiple levels, meeting goals that the community set out during the initial visioning process” said Mayor George of the project, which is expected to total in excess of $90 million. “Those aspirations included community and economic development priorities for public space; high quality architectural & environmental design; diverse & affordable housing; active commercial uses; and workforce growth. The elements of this agreement achieve that vision.”

Planning Director Shawn Leininger explained the key aspects of the deal reached with the development team of CASTO Communities and North Pointe Realty on a mixed-use, multi-story building that will anchor the site at the corner of Belle and Detroit, including:

• Office: over 65,000 square foot new, class A office space will be constructed, owned, and occupied by Roundstone Insurance, which is expected to grow to well over 200 employees in the coming years;
• Commercial: nearly 30,000 square feet of ground floor retail or restaurant tenant(s) in the anchor building that will add energy to the already bustling Downtown Lakewood business district;
• Community Space: a 20,000 square foot plaza and community space that will be used for frequent public events and gatherings;
• Housing: at least 200 units of mixed-income for-sale and rental housing, including affordable units to address the increasing cost of housing in Lakewood;
• Parking: a parking garage that will serve the development and also provide additional public parking.

Leininger said that having Roundstone as the anchor in the office building allows Lakewood to maintain a growing employer that was otherwise unable to find enough space to remain in the city, and also have hundreds of workers patronizing downtown businesses. “Roundstone has been growing in our city for years, but would likely have ended up leaving Lakewood soon because there was no other location for them to continue that growth trajectory,” said Leininger, who noted that Roundstone is expected to quickly become the second highest source of private payroll taxes for the City. “The City has been working with Roundstone to investigate various options to remain in Lakewood, and having them as the anchor in this development provides a win-win situation that meets the goals for all involved.”

Roundstone, a national provider of health insurance that focuses on small and mid-sized businesses, was deeply involved in the negotiations and has agreed to terms with CASTO and North Pointe, who will develop the space that Roundstone will purchase. The first floor commercial space will be retained by the developers. CASTO is a national real estate developer based in Ohio with decades of mixed-use development and management experience, and has partnered with local real estate firm North Pointe on the project.

“We’re thrilled to expand our presence in the heart of Lakewood with a new office building,” said Mike Schroeder, CEO and Founder of Roundstone. “We’re committed to our Cleveland roots and creating jobs in Ohio and are grateful to be part of the vibrant Lakewood community. Our entire team is excited by the news and the vision for the company – pursuing our mission of Quality, Affordable Health Care for All.”

“Our partnership with the City of Lakewood for the downtown development was founded on a shared goal of community benefit for the people of Lakewood,” said Brent Sobczak, President of CASTO Communities. “We have a passion for these kind of complex, mixed-use projects, and the agreement will achieve a well-planned vision to add public space, housing, office, and vitality to Lakewood’s central business district. We are excited to get under way and look forward to being a strong corporate partner in this great city.”

“We’re working closely with the City of Lakewood and the community to create a development with a true sense of place that respects Lakewood’s character,” said Scott Simon, President of North Pointe Realty. “That includes unique public space assets for the people of Lakewood to meet and connect.”

Once adopted by Lakewood City Council, the term sheet will empower the Mayor’s Office to negotiate final terms with CASTO and North Pointe. If Council approves the terms soon, the City and CASTO expect construction work on the site could begin later this year.

Click here to view the site plan.

Click here to view the conceptual drawings.

Click here for the communication to be introduced at the Lakewood City Council on Monday, April 4th.

Click here to view the proposed resolution regarding the Downtown Development term sheet.

For more information about the City of Lakewood, please visit lakewoodoh.gov.

For more information about CASTO, please visit castoinfo.com.

For more information on Roundstone Insurance, please visit roundstoneinsurance.com.

 

Community Update August 16, 2021

Over the past 8 months, the City of Lakewood and CASTO / NPR have been working to update the 2017 proposal that was submitted in response to the City’s call for proposals to redevelop our nearly 6-acre property Downtown.  During this time the City and CASTO / NPR have been working on the following:

• CASTO / NPR reassembled their design team, including Lakewood firm Dimit Architects.
• City Staff worked with the CASTO / NPR team to discuss significant changes that had occurred to the site since their original proposal was created, including, among other items, the demolition of the former buildings that occupied the site, the environmental conditions that were discovered during the demolition, and the condition of the Curtis Block building.
• With this understanding of the current site conditions, the CASTO / NPR team has been working to update their proposal.
• The City has continued to work with the Ohio EPA on resolving the environmental conditions resulting from the former laundry facilities that occupied a portion of the property. More information on this topic can be found in the Project Resources & Background Information section or clicking here.
• Several meetings have been held with the Downtown Development Advisory Panel to review and advise the City on updates to the proposal.
• The City and CASTO / NPR team have been negotiating a term sheet to establish broad consensus and goals for moving forward with the project and establishment of a Development Agreement.

This brings us to today.  The next step will be advancing to City Council legislation that will authorize the negotiation of a Development Agreement and will commence the Planned Development zoning process.  It is with the introduction of these legislative items that we will move the updated CASTO / NPR proposal into the public process.  With this there will be many opportunities to review and provide input into the proposal.  Updates will be provided on this page as this process commences.

Community Update May 21, 2021

Conversations and progress on the Downtown Lakewood site continue! The city administration, with representatives from city council and the resident advisory panel, toured CASTO’s most recent Dexter project in Ohio City. We are looking forward to CASTO’s updated proposal for the Downtown Lakewood site.  More information can be found at: https://castoinfo.com/commercial/portfolio/ohio/the-dexter.

     

     

Community Update May 14, 2021

The City and the CASTO development team have been hard at work discussing a term sheet and revisiting the original proposal in light of current market and site conditions. The Downtown Development Resident Advisory Panel has been reengaged and will discuss the updates to the plan before the zoning process begins. The Planned Development rezoning process is expected to begin once a term sheet has been agreed to by the City and the Developer.

Community Update December 22, 2020

On December 21, 2020, City Council voted unanimously to permit Mayor George and the administration to enter exclusive negotiations with CASTO and North Pointe Realty, working towards building a term sheet for the downtown development project.  In 2017, CASTO and North Pointe Realty (CASTO team) were one of two teams selected as the most qualified to develop the nearly 6-acre former hospital site in the heart of Downtown Lakewood. The CASTO team presented an exceptional, well-designed mixed-use development that integrated into the fabric of the Lakewood community while creating a new anchor for Downtown.  Ultimately, another developer was selected to complete the project.  However, as a result of the decision of the City and selected developer not to proceed together with the project, the City has a unique opportunity to revisit the development proposal presented by the CASTO team.  In this regard, the CASTO team has notified the City that they remain committed to this project and are enthusiastic about restarting discussions with the community.  

The CASTO and North Point Realty team brings together two complementary developers to execute a successful mixed-use development in Downtown Lakewood.    

CASTO is an Ohio-based developer of complex, successful urban projects around the country that consistently ranks nationally as well as locally as one of the area’s best commercial real estate developers and property management companies.  Locally, CASTO is developing The Dexter, a mixed-use project on Franklin Circle in the Ohio City neighborhood. The project offers 8,660 square feet of retail and restaurant space available on the ground floor, 115 luxury residential apartments on the upper four floors and on-site parking. Additional information can be found at https://castoinfo.com/. 

 North Pointe Realty is a local full-service commercial real estate development, property management, leasing, and brokerage firm with offices in Mayfield Heights, Lakewood and Akron.  North Pointe Realty has long-standing local relationships with the Lakewood business community and brings office building expertise from the development of more than 40 projects throughout Northeast Ohio. Additional information can be found at https://www.npointe.com/. 

 The CASTO team proposal submitted during the RFQ/RFP process is a starting point for discussions.  The plan will evolve over the planned development rezoning process, which requires multiple City Council, Planning Commission and Architectural Board of Review meetings before it is finalized. Through these public meetings the community will ensure the plan is aligned with the Development Objectives and Lakewood’s Community Vision.    

Stay up to date on the project and be notified about public meetings by checking this website or signing up for email updates. 

November 11, 2020

JOINT STATEMENT REGARDING ONE LAKEWOOD PLACE

In 2018, The City of Lakewood (the “City”) and Carnegie Management and Development Corporation (“Carnegie”) entered into an agreement regarding the redevelopment of the Lakewood Hospital site.  Over the next two years, Carnegie worked diligently, and expended significant resources to listen to neighbors, engage the Lakewood community, develop a compelling vision and design for the site and attract tenants. Meanwhile, the City demolished the hospital building and worked to prepare the site for development.  Despite this progress, the City and Carnegie have determined not to proceed with the development and have resolved all outstanding issues relating to the project.

The City and Carnegie reach this mutually agreeable resolution and wish each other well.