Shaker Square Sale Is Off

Shaker Square is no longer for sale following controversy over plans for redeveloping the area.

The square was listed for sale in November.

A $400,000 redesign project from Cleveland Neighborhood Project and LAND studio, launched earlier this year, faced criticism for a proposal to redirect Shaker Boulevard and remove parking spaces. The potential sale of the 1920s-era shopping district further complicated the discussion, and the redesign was put on hold.

Though considered a civic space, the parcel is owned by The Coral Company. Negative reactions to redesign plans led management to reconsider selling, said Coral President Peter Rubin. The company wants to be a "good shepherd" of the 100-year-old square through the revitalization process, he said.

“Now we’re stepping back and trying to address those concerns that are still out there, both with merchants and the community,” he said.

The company could still consider selling the property in the future, Rubin said, though there’s no timeline for when the issue could come up again.

“For us, even though it’s a civic asset, it’s an investment,” Rubin said, “and at some point, my investors and I, it’s appropriate for us to sell and move on.”

The company will evaluate the community’s needs and its commitment to the square before it moves on, Rubin said.

Ownership of the square presents issues for the redesign project. While the Coral Company owns the square itself, the streets are the property of the City of Cleveland. The land where the Rapid runs is owned by Shaker Heights and leased to the Greater Cleveland Regional Transit Authority.

The redesign aims to make Shaker Square more pedestrian-friendly and create a community center, including a patio and performance venue. The proposal has received mixed responses from the community, including protests last month when the most recent edition of the plan was unveiled.