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Tower City In Cleveland: Will Dan Gilbert’s $56.5 Million Buy Close Any Shopping Center Stores?

By Paula Mooney
Published on: 05:52 PST, Mar 23, 2016

For those in the Cleveland-Akron area of Ohio, a visit to Tower City Center — a shopping mall in the heart of downtown Cleveland — can be a treat. As seen in the above photo from Thursday, August 19, 2010, in Cleveland, Terminal Tower and Tower City sit right on the water, overlooking the Cuyahoga River. Now that Dan Gilbert has purchased The Avenue of Shops in Cleveland’s Tower City for $56.5 million, folks in the area are rejoicing, and wondering what Gilbert has planned for the shopping center.

As reported by WKYC aboutCleveland’s Tower City Center, it was announced on Wednesday that Gilbert — who already owns the nearby Horseshoe Casino, which can be accessed from inside Tower City — had plans to make the more than 100 eateries and retail stores inside Tower City part of a larger plan for urban greatness.

Without mentioning any stores inside of Tower City that might close — or new ones that may open — as a result of the sale to Gilbert, the announcement is being viewed as good news for those who frequent the shopping locale.

As reported by Cleveland.com, Tower City was opened in 1990, and transformed into a high-end retail shopping mall — but has been in need of updating. Billionaire Gilbert, who owns the largest stake in the Cleveland Cavaliers, is being looked at as a savior of sorts in terms of resurrecting Tower City and its large parking space beneath the 366,000-square-foot shopping space.

The press release about the purchase spoke of a new design for Tower City and the Ritz-Carlton hotel. Those plans can’t include expansion of the casino the Tower City mall, due to rules of the Ohio Casino Control Commission. The purchase of Tower City by Gilbert, coupled with LeBron James recently unfollowing the Cavs on Twitter and Instagram — as reported by the Inquisitr — has Cleveland fans wondering what the next move will be for the sports team owner.

On Facebook and Twitter, plenty of Cleveland-area people are reporting their views on the news that popular places like Public Square, in front of Tower City, and nearby hot and happening spots like East 4th Street in Cleveland are seeing a resurgence in visibility and getting new facelifts and being brought back to life.

Brooks Brothers remains as the sole original retail store left in Tower City, with McDonald’s recently shuttering its doors there. However, Cleveland Cinemas, Hard Rock Cafe, and Morton’s the Steakhouse are still alive and kicking in the mall.

On social media, folks are reacting to the news about Tower City with glee.

“Thank you Dan Gilbert for making sure my property values continue to rise!”

“Wow I’m interested in seeing how this works out.”

“Well Danny Boy! He’s slowly taking over the city.”

“This man has money to burn!!”

Indeed, the high purchase price that Gilbert paid for the shops in Tower City, as well as the parking spaces, was a shock to some.

“He trying to buy the whole city.”

“Oh that Dan Gilbert.”

Others expressed how happy they would be to see Tower City renewed and brought back to life.

“This is exciting! I would love for The Avenue to comeback to life.”

“Interesting. Maybe they’ll put in some good stores.”

“Great addition to the casino..lol All bull**** aside.. Gilbert need to upgrade the cinema area to a IMAX platform.”

“Interesting. Maybe they can get some more chains – last time I was there I barely recognized anything.”

“Expect something amazing to take place with this building! Its about the inches!”

“I know he will make it better.”

“Very exciting day for Cleveland! Very interested to see what will be developed in the months to come downtown and in our office building.”

#HeGone? LeBron James Unfollows Cavs On Twitter And Instagram — Still Follows His Wife

[Photo by AP Photo/Tony Dejak]

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