Committee approves sending ‘Top of the Hill Plaza’ reuse plan to full council

The Euclid Executive Finance Committee voted June 9 to send a use-district exception and recommendation for approval to full City Council for a developer plan to convert the Lakeview Enterprise Campus—branded Top of the Hill Plaza—into 165 apartment units and roughly 16,000–20,000 square feet of commercial space.

The proposal, presented by members of the private development team, would convert the underused commercial building on Metro Drive into a mixed-income residential property financed with a mix of historic tax-credit equity, federal low-income housing tax credits administered by the Ohio Housing Finance Agency (OHFA), tax-exempt mortgage financing and opportunity-zone equity. David Berg, a principal at 17 Franklin, told the committee that the plan represents “about a $56,000,000 investment into the community.”

Why it matters: committee members and city staff said the proposal could attract investment to Euclid’s southeastern corridor, add new rental choices and create spillover pressure for nearby property upgrades. The administration and planning staff described the project as consistent in part with the city’s master plan character-area goals while also acknowledging tradeoffs with the plan’s homeownership emphasis.

What developers proposed

Chaim Maayan, representing property owner Man Holdings, and developers from 17 Franklin described the project as an adaptive reuse of a largely underperforming commercial asset that was purchased in 2021. The plan calls for 165 residential units (a mix of one-, two- and three-bedroom apartments, including about 27 three-bedrooms), two floors of commercial lease space to be retained, and significant site and exterior landscaping…