LAKEWOOD, Ohio — The city of Lakewood announced plans for the site of the former Lakewood Hospital that would add hundreds of housing units, retail space and a public plaza.

What You Need To Know

  • The City of Lakewood has unveiled plans for the former site of Lakewood Hospital

  • The $90 million project would provide a mixed use of office space, retail, housing and public parking

  • The project could begin construction later this year if plan gets approval

Mayor Meghan F. George and the City’s Planning and Development Department will present a term sheet to Lakewood City Council on Monday.

City officials said the “key to the deal: is an agreement for Roundstone Insurance to remain in Lakewood by occupying a new multi-story office building at the corner of Belle and Detroit Avenues."

If Lakewood City Council approves and Roundstone Insurance agrees, construction on the $90 million plan could begin later this year. 

“This agreement is a significant win for Lakewood on multiple levels, meeting goals that the community set out during the initial visioning process” said George. “Those aspirations included community and economic development priorities for public space, high quality architectural and environmental design, diverse and affordable housing, active commercial uses and workforce growth. The elements of this agreement achieve that vision.”

City planning director Shawn Leininger said the city outlined several agreements planners reached with CASTO Communities: 

Office: more than 65,000 square foot new, class A office space will be constructed, owned and occupied by Roundstone Insurance, which is expected to grow to well over 200 employees in the coming years

Commercial: Nearly 30,000 square feet of ground floor retail or restaurant tenant(s) in the anchor building that will add energy to the already bustling Downtown Lakewood business district

Community Space: A 20,000 square foot plaza and community space that will be used for frequent public events and gatherings

Housing: At least 200 units of mixed-income for-sale and rental housing, including affordable units to address the increasing cost of housing in Lakewood

Parking: A parking garage that will serve the development and also provide additional public parking.

“Our partnership with the City of Lakewood for the downtown development was founded on a shared goal of community benefit for the people of Lakewood,” said Brent Sobczak, President of CASTO Communities. “We have a passion for these kind of complex, mixed-use projects, and the agreement will achieve a well-planned vision to add public space, housing, office, and vitality to Lakewood’s central business district. We are excited to get under way and look forward to being a strong corporate partner in this great city.”

Details of the plan are available on the city of Lakewood website.