Former Lakewood Hospital Site Redevelopment Moving Forward

LAKEWOOD, OH — The redevelopment of the former Lakewood Hospital site took a small step forward last week.

A team from CASTO, the firm taking over the project, did a site visit, touring the grounds and getting a firmer grasp of the property. They were joined by the city's planning and development team.

"Our joint tour last week of the downtown redevelopment site with our development partner, CASTO, was productive. I was glad to see the City of Lakewood team trading ideas back and forth with CASTO and building enthusiasm for what we can accomplish there together," said Mayor Meghan George.

George's office said a series of public meetings on the project will be announced in coming weeks. The meetings will include representatives from CASTO, as well as the city's planning and development team.

"This is a big opportunity for Lakewood. It is critical that we create the right project for our community, not just for today but for the next several decades to come. I am confident we have a good partner in CASTO to work with us toward that goal," George told Patch in an email.

Updates on the project will be shared on the city's website.

The redevelopment of the former Lakewood Hospital site was originally being handled by Carnegie Management and Development.

The original One Lakewood Place was an estimated $72 million project that would have converted the former 5.2 acre Lakewood Hospital site into a mix of residential units, office space, and shops.

But that deal fell apart because of financial disagreements, George said in April 2020, and the ensuing vacuum allowed CASTO to re-emerge as a possible development partner.

In December 2020, Lakewood City Council authorized George to enter exclusive negotiations with CASTO on the redevelopment project.