Services Employed

  • Market research
  • Assessing financial feasibility
  • Development planning
  • Developer solicitation and negotiations

 

Project Specs

  • Budget: $50 million or more
  • Hotel with 150 or more rooms
  • New ground transportation center
  • Scheduled Completion: 2016

Cleveland Hopkins International Airport

CLEVELAND, OH

SITUATION

The City of Cleveland’s Division of Port Control is seeking to leverage Cleveland Hopkins International Airport as an anchor to draw more development. The City hired a consulting team including Berusch Development Partners, a Chicago-based development advisor, an architect, a cost estimator, and a hotel analyst. The team’s mission is to study the market and financial feasibility for developing a major new hotel adjacent to the main airport terminal, and to work with airport personnel on establishing key planning and design parameters for the facility.

CHALLENGE

Honing in on the right hotel concept including the optimal number of rooms, brand affiliation, amenities, market segment and price point; determining the best location and orientation on the site relative to existing and future airport infrastructure; and forecasting the hotel’s operating performance and the likely financing gap to be filled with subsidy financing.

STATUS & RESULTS

The consulting team has analyzed the market potential for new hotel and office space, is working closely with airport staff on design feasibility, and is poised to create a financial model and developer/hotelier solicitation plan for the proposed project.

© 2014 Berusch Development Partners, LLC
Innovative Partner. Trusted Advisor.
BERUSCH DEVELOPMENT PARTNERS
11607 Euclid Avenue
Cleveland, OH 44106
T 216.402.8089
ABOUT US
About BDP
Russell Berusch
AREAS OF EXPERTISE
Place- and Anchor-oriented Development
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Expert Advisor
CAMPUS ENVIRONMENTS
Uptown, University Circle
Campus Town
Euclid 115
Flats at Wick
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Green City Growers
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Dave’s Ohio City Market
Saint Lukes
Lee Harvard Shopping Center
Central Commons
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Arbor Park Place
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Cleveland Lakefront
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