The historic Colonial and Euclid Arcades in downtown Cleveland suffered from 40 percent vacancy last year, yet this year they added a slew of new shops and have gone from half-empty to nearly completely full.
Renamed the 5th Street Arcades
, the once-moribund properties have been turned around by Dick Pace of Cumberland Development, who has breathed new life into the spaces by luring entrepreneurial tenants with fresh concepts and excitement about downtown.
"Step by step, we're getting there," says Pace, who has focused on locally themed retail that serves downtown residents and office workers. "Each month, there's something new going on. Our tenants cross-market and help each other."
Last year, a retail grant competition
netted Soulcraft Furniture Gallery
, which opened earlier this year, and Pour Cleveland
, which will open by November 1st.
Several of the businesses in the 5th Street Arcades will soon add outdoor seating, including Pour, Sushi 86 and a yet unnamed food tenant that Pace is working with.
Additional businesses that will open this fall include Herron Starr Apparel
(a shoe store), The Tea Lab
(a tea shop run by Bob Holcepl of City Roast), The Olive and the Grape
, and a take-out vendor called C'mon Let's Eat (CLE).
Finally, Sushi 86 is expanding to create space for banquets and cooking classes, and Alphonso's, a men's and women's accessories shop, will open later this year.
"Tenants are drawn here because this is becoming known as a retail area, an area for shopping," Pace says. "That says a lot about downtown and what's happening."
Source: Dick Pace
Writer: Lee Chilcote