At nearly 1.2 million square feet with 996 residential units, Reserve Square is one of downtown Cleveland's largest mixed-use residential properties. The complex is located between East 12th, East 13th, Chester Avenue, and Superior Avenue, adjacent to Playhouse Square and Perk Park.

Following years of deterioration, Reserve Square is in foreclosure and under court-appointed receivership. Occupancy has fallen significantly and the City has cited numerous health and safety issues.

Reserve Square possesses a number of problems, including active housing and building code violations, heating failures, water intrusion, flooding, and deferred maintenance. Reserve Square also faces commercial space vacancies and declining occupancy.

The City has recorded 85 active property violations at Reserve Square and has filed 20 first-degree misdemeanor Failure to Comply charges related to the property.

The City continues to monitor conditions, enforce housing and building codes, and work with the court-appointed receiver to address life-safety concerns.

Following loan default under the previous owner, Reserve Square is in foreclosure and owned by a court-appointed receiver. The property is pending auction.

No demolition has been approved. However, City officials have identified full demolition as the preferred long-term redevelopment strategy should the property come under public control and funding become available.

The City is considering demolition of Reserve Square for a number of reasons, including the building's age, functional obsolescence, and massive infrastructure costs. In addition, there is difficulty in redeveloping nearly 1,000 units in one building, and, simultaneously, there is opportunity that exists to unlock surrounding investment.

The City is pursuing aggressive code enforcement and legal enforcement, protecting residents, working through the foreclosure process, and supporting Cuyahoga Land Bank acquisition. It is also exploring redevelopment options and coordinating with Cuyahoga County and development partners. 

Reserve Square remains in foreclosure. The legal process determines disposition. The City believes public control through the Land Bank could provide the flexibility needed for long-term redevelopment.

Ownership of Reserve Square may change following foreclosure, and the City will continue enforcing building and housing standards regardless of ownership.

Demolition of Reserve Square would cost approximately $25 million, excluding acquisition costs.

Possible future uses of the Reserve Square site could include new mixed-use development, housing, commercial uses, public open space, and/or new neighborhood connections. No final redevelopment plan for the Reserve Square site has been approved.

This is an opportunity to reinforce the City's broader vision of the Shore-to-Core-to-Shore initiative. Reserve Square is a district-scale challenge, but addressing it is important to support investment around Playhouse Square, Perk Park, and nearby redevelopment projects.