According to a source, Richmond Heights officials Monday night canceled a closed session with Joseph Cyr, the developer the city gave the OK to for Boland Place apartments at Dale and Boland avenues.
Cyr and/or his business partner will report on the status of the project and financing at the Feb. 21 city council meeting in open session, the source says. Richmond Heights City Manager Amy Hamilton hasn’t responded immediately to a request for comment.
According to the source, at the Feb. 21 meeting Cyr could:
- Lay a foundation for tax breaks in the form of real estate tax abatement and/or TIFs
- Request a demolition permit so they would be in position to “flip the property” and sell the cleared land to a new developer
- Request that they be permitted revert back to their original plans which called for a larger building than what was ultimately approved
- Report that they have financing — they will demo in March and start building in May
Richmond Heights officials approved the development last February.
The plan called for:
- 187 apartment units
- A maximum building height of 52 feet
- About 400 onsite parking spaces – about 1.8 per unit
- An approximately one-fifth acre green space at the north end of the complex available for use by local residents