Recordpub.com - Developer hopeful to meet with city Kent officials to hear proposal

By Matt Fredmonsky

Record-Courier staff writer

The second of three development groups looking to partner with the city of Kent in rebuilding a downtown block will meet with city leaders today to discuss their redevelopment proposal.

Cambridge Venture Partners of Pittsburgh, and Kent-based Portage Venture LLC representatives will conduct an approximately two-hour presentation this morning with Kent city leaders to outline both groups' joint plan for redeveloping the downtown block bordered by Haymaker Parkway, South DePeyster, South Water and Erie streets.

The meeting is part of the city's review process of the three submissions received from Portage Venture, Fairmount Properties and Testa Co. of Cuyahoga Falls. All three firms responded to the city's request for qualifications, which asked developers interested in partnering with the city for the project to submit rough proposals.

Dr. David Leone, a partner in Portage Venture, collaborated with several area doctors in 2003 to open the West River Medical Center in the West River Neighborhood. Biographical information on Leone in the Portage and Cambridge Venture submission to the city attributed the recent development of the West River region to the establishment of the medical offices.

Leone said Thursday the medical building marked the initial progress in the city-driven, $2.2 million redevelopment of the West River Neighborhood.

"When we were considering doing that, there was nothing else down there," Leone said. "There was no library. We kind of initiated the development there."

Leone's collaboration in the West River Medical Center included Dr. Bina Mehta, who is listed as a partner in Portage Venture's request for qualifications submission. Their partnership also purchased the building where Wild Goats Cafe operates.

In today's meeting, a four-person committee will review the Portage Venture proposal. The committee members include Kent City Manager Dave Ruller, Kent State University Senior Vice President for Administration Dave Creamer, Kent City Councilman Garret Ferrara and Main Street Kent Executive Director Mary Gilbert. The committee will meet with all three firms, review all three submissions and recommend a firm to council most likely by early March, Ruller said.

According to the Portage and Cambridge Venture Partners submission, the professionals in both groups have experience in real estate developments. Cambridge projects have included housing developments, retail centers, office buildings and hotels. The firm envisions the core development in Kent as revolving around three key components, which include high-quality housing, retail space and a hotel and conference center. A major part of the residential component would include student housing, according to the document.

David Haines, a partner in West River Medical with Leone, said today's meeting with city leaders will cover his firm's proposed project layout, uses and tenants involved.

"And really the overall plan, the layout of where we feel pieces and parts should be included," Haines said.