‘Amazing River’ prospers, development director reports
By Allison Pritchard
Rocky River
Published Oct. 29, 2008

While America is in what many call the biggest recession since the Great Depression, Rocky River buildings are doing relatively well. It’s no wonder the theme of Kory Koran’s Economic and Community Development Update Thursday was “Amazing River.”

Investment continues in Rocky River at an amazing pace, Koran told the crowd of business people. This was the director of economic and community development’s sixth annual speech at a Rocky River Chamber luncheon.

Kory Koran

In 2007, the total increase in value was $17.7 million for commercial buildings in River, and residential and commercial combined totaled $22.7 million, Koran said about the city that was rated as the fourth best suburb in Cleveland magazine’s June issue.

Only five Cleveland area communities showed a gain in value of residences, with Rocky River being the only one on the West Side to gain in value, Koran added. The city also ranks number eight of 40 zip codes in the Cleveland metro region for the number of days it takes to sell a home, which is 66, he said.

In terms of personal residences, some new residences are struggling and some are doing well, Koran said. Of the three residential Chandler projects, River Place and River Side are almost complete, and Grand View, which has suffered financial difficulties, got its first occupancy permit last month and is getting back on track, Koran said.

The big residential craze this year was home renovations, or what Koran referred to as the “building an addition phenomenon.” The city boasts 31 additions and 36 major remodels, totaling $4.9 million in 2007 for residential renovation, said Koran.

The big business news this year, according to Koran, is that Rocky River High School graduate Packy Hyland Jr. moved his health care solution business, Workflow.com, to Rocky River from Westlake.

In other business news, Koran said although onlookers may think many office buildings in the city appear vacant, most aren’t. Koran said he visited all the city’s office buildings to obtain an accurate number of vacancies, and he was amazed at the occupancy level — the west side is at about 100 percent capacity and around Center Ridge, there are only two buildings with problems, Koran said.

Although it started out with many vacancies, Beachcliff Market Square is starting to get back on the right track with a mix of local and national retailers including the new Jake’s Life Rocks store and Urban Home and Garden. The property also recently made small improvements, including better landscaping, said Koran.

Another Rocky River shopping area, the Shoppes of Old River, is doing better than ever. For the first time the area enjoys almost full occupancy. The newest and most talked about addition is Tartine Bistro in the old city hall on Old Detroit Road, Koran said. Tartine is a traditional European style wine bar that now serves lunch, said Koran. With Mitchell Sotka taking a leadership role in planning events like Sip ‘n Stroll Thursdays in the summer, the Shoppes of Old River are booming, and especially hopping at night, Koran said.

In other news, Rockport, which has been having tough times, recently received a signed letter of intent from Best Buy. The former Target building is vacant and Rockport needs one more tenant to start construction, Koran said.

Target bought out its 17-year lease and moved to Westgate, along with Buffalo Wild Wings, which is moving to Westlake as part of a national effort to move its restaurants to newer store sites, Koran said.

Rocky River has not only recently lost just a few stores, but school district funds, according to Koran. In an unusual case of one city passing changes that affect another, he reported that booming Westgate shops (located in Fairview Park, but part of the Rocky River school district) received property tax abatement for seven years, which means tax money that would be going to Rocky River school district is gone. About two years ago Fairview Park granted tax abatement to Westgate owner Jacobs Group’s new construction as each store opened.

In other tax news, income tax receipts are doing very well considering the economy, said Koran, admittedly bragging about the city. Rocky River’s income tax rate is 1.5 percent, one of the lowest in the county and has not increased since 1977.

In what Koran cited as other positive news, the city is considering updating the development code to include mixed-use zoning chapters for the first time. This would allow residences and businesses to co-exist in the same buildings, Koran said. A consultant is preparing a mixed-use chapter and is about half-way through his 14-month contract. The change that would let Rocky River be on par with other progressive communities and would have to be approved. When the Master Plan was completed three years ago, it had included recommendations to update the development code.

Koran ended his speech by stressing that Rocky Riverites should shop in Rocky River to keep money flowing through the city and to allow Rocky River-owned businesses to continue to thrive.

On the Web:

• City of Rocky River
• Rocky River Chamber of Commerce