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Ambler Realty owned 68 acres (0.28 km 2) of land in the village of Euclid, Ohio, a suburb of Cleveland.The village, in an attempt to prevent industrial Cleveland from growing into and subsuming Euclid and prevent the growth of industry which might change the character of the village, developed a zoning ordinance based upon six classes of use, three classes of height and four classes of area.
In 1987, the company sold its retail lumber business to Handy Andy Home Improvement Center. [3] In 2011, the company sold a 49% stake in a retail portfolio in New York for $172.3 million. [4] In 2013, the company acquired a 100% interest in a mall in Pittsburgh. [5] The company also sold a Sheraton hotel in Station Square in Pittsburgh for $61 ...
In 2002 the company acquired JDN Realty Corporation for $436 million in stock. [6] In February 2011 the company's executive chairman, Scott Wolstein, resigned, [7] and the company was renamed to DDR Corp. that September. [8] In December the company sold Town Center Plaza to Glimcher Realty Trust in exchange for Polaris Towne Center. [9]
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According to Mike Thomas of the Orlando Sentinel on April 20, 1997, the local contractor, Univel, folded almost immediately. The senior developer, and the real money behind the project, contractor Towne Realty out of Milwaukee, agreed to a settlement out of court to avoid litigation. They have continued to develop properties to this day.
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