First Interstate issues statement upon passage of Oakwood rezoning
On Wednesday, Nov. 9, First Interstate Properties issued a press release following the passage of Issue 96 – the South Euclid referundum on rezoning the South Euclid portion of the former Oakwood Country Club for commercial use. Following is text from that release:
“I want to thank the voters for their support, voters who said they want a 21-acre park; voters who said they want new jobs for themselves, their children and for others who’ve searched in vain for work; voters who said let’s keep our tax dollars in South Euclid; voters who value reasonable and appropriate solutions that balance economic needs with environmental stewardship; and voters who chose win-win instead of win-lose,” said Mitchell Schneider, president of First Interstate Properties, developer of the proposed Oakwood Commons. “Now it’s time to get to work. We will now work hard to finalize agreements with retailers, finish work for permitting and finalize details for the park.”
In campaign literature and at public meetings, Schneider stated that he will invest $45 million dollars in South Euclid, create more than 700 jobs, generate annual revenues to the city of nearly $750,000 per year and double the amount of park space in South Euclid. The passage of Issue 96 now assures that will happen.
“Today’s vote represents a turning point for South Euclid — one that points toward growth rather than decline,” Schneider said. “And it wouldn’t have been possible without the unanimous support of both the city’s planning commission and the city council of South Euclid. In particular, I want to mention, commend and thank Mayor Georgine Welo, President of Council David Miller and Councilwoman Jane Goodman for seeing the benefits of this project and helping their constituents understand those benefits,” stated Schneider.
“I want the residents of South Euclid to know that I heard a few things loud and clear. They want a quality development; they want stores that deliver value and affordable goods; they want retailers and restaurants that take pride in their own stores and pride in the community that surrounds them; they want a park that will be enjoyed by all; and most important, they want an operator that will keep the promises he makes. I told the voters of South Euclid that my reputation and that of First Interstate is on the line now, today and tomorrow. I intend to keep my promises,” added Schneider.
First Interstate Properties, Ltd. is a Lyndhurst-based full service real estate development and management company. Local retail projects include Legacy Village in Lyndhurst, Steelyard Commons in Cleveland, Avon Commons in Avon and Creekside Commons in Mentor.