Upscale apartments planned for University Circle

WXZ Development Inc. plans to build 60 apartments in University Circle, where hospitals and institutions are driving the need for new homes despite the challenging economy. The project is envisioned to sit on nearly 3 acres along Hazel Drive, near the Western Reserve Historical Society and the Cleveland Institute of Music. The Hazel apartments will cater to people who prefer to rent or who aren't in Cleveland long enough to buy a house. The Cleveland Clinic, University Hospitals, the Louis Stokes Cleveland VA Medical Center and Case Western Reserve University attract medical residents, researchers and graduate students who need apartments for just a few years. That's driving demand for new apartments, such as the proposed Uptown residential-and-retail project on Euclid Avenue, and for high-end existing rentals, particularly those at Park Lane Villa off East 105th Street. WXZ hopes to start construction late this year and open the first apartments by fall 2011. The project could be finished by spring 2012, in time to house medical residents looking for rentals near the hospitals.

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For more information please contact Jen Zelko at 440.749.0546