ASHTABULA — Renew Partners LLC, the northeast Ohio real estate developer who bought the former Carlisle’s building and the historic Castle Rock property in downtown Ashtabula, has now purchased Victoria Place in downtown Painesville.
Victoria Place, originally a retail mall, is being used as an office building and home to 13 commercial tenants, which plan to stay.
Renew, through its affiliate Vic Place LLC, acquired the 191,000-square-foot property from Painesville Commercial Properties Inc., an affiliate of the CentiMark Corporation, a large roofing contractor. Plans for the building complex includes commercial and retail space and potentially apartments.
Renew, led by Chuck Borsukoff and Shawn Neece, is working with JCI Contractors, Inc. of Ashtabula for consulting and pre-construction services.
The group is in the process to roll out a plan to update the buildings critical infrastructure components such as the heating, cooling and lighting.
“We are pleased to embark on this new development and be part of the resurgence of downtown Painesville,” Neece said.
Charlie Borsukoff, president of JCI Contractors, Inc, said he’s excited to get to work on the building.
“We look forward to being on the forefront of the Downtown Painesville redevelopment process,” he said.
Renew is no stranger to developing large, complex projects. Chuck Borsukoff and Neece, along with JCI Contractors, redeveloped the Historic Hotel Ashtabula into medical offices for Signature Health.
The 55,000-square- foot historic rehabilitation project is the largest in Ashtabula County’s history.
The same team also completed the reuse of the Historic Mentor Village Hall and the Old Chardon Post Office. Both buildings are now offices for an accounting firm.
This past September, through its Vineyard Hotel Group LLC affiliate, Renew co-developed with Emerald Hospitality Partners, a brand new, $11.5 million Hampton by Hilton hotel in Madison.
The four-story, 82-room hotel is Renew’s first hospitality property.