Lake Erie College, in partnership with Renew Partners LLCwill begin renovations to the former Lake County National Bank building in the town square of Painesville – most recently Chase Bank – to create new student housing.
The building will soon undergo a drastic transformation to make way for 172 Lake Erie College students, school officials recently announced.
The structure will include suite-style living with shared common spaces and private bedrooms, in addition to a full kitchen in each suite.
Each resident will also have their own reserved parking space, depending on the school.
In addition, a 6,000 square foot restaurant, open to the public, will be located on the ground floor.
Taking advantage of historic tax credits, the $16.4 million project is “committed to restoring historic elements of the building.”
The lecture hall will be preserved and used as a new meeting space for student organizations, and ticket counters will remain a prominent feature of the restaurant space.
The grand mid-century floating staircase will lead from the lobby to a fitness center overlooking the plaza.
“We are extremely excited to bring this new commitment to downtown Painesville,” said Lake Erie College President Brian Posler. “The citizens of Painesville have always been good neighbors to the college, and by moving our students downtown, we hope to energize additional development around the square.”
The Painesville City Council approved dormitory legislation late last year.
Streetscape improvements around the property totaling $1 million are also planned to help accommodate residents, city officials noted.
The facility will be considered on-campus apartment-style housing, as freshmen will stay in on-campus residence halls, with returning students having the option of living in the new housing.
Lake Erie College will list the property as LEC housing on its website and include it in the student housing selection process.
The school will assign resident assistants to building and 24-hour security, similar to residence halls on the college campus.
The project has a proposed completion date of July 2023.