What if I told you that Downtown Cleveland could soon have more than six million square feet of buildings under construction at the same time? What if I told you downtown already has four million square feet of construction underway or about to begin? Yes, 10 million square feet total.
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One of the most visible historic factories in Cleveland may soon be in the hands of a developer that has a proven track record of restoring such buildings.
The former Westinghouse Electric and Manufacturing Co. at 1200 W. 58th St. near Gordon Square in the Detroit-Shoreway neighborhood is best known for its eight-story structure towering over the Westinghouse Curve of the West Shoreway (aka State Route 2) near Edgewater Park. Or, perhaps you recall the Black Widow interrogation scene from the 2012 Avengers movie that was filmed here.
Read MoreOld Westinghouse plant may soon be in developer’s hands Read More »
After months of speculation and rumor about a scaled-down design for Stark Enterprises’ downtown Cleveland megaproject called nuCLEus, revised conceptual site plans for the project were briefly posted on Stark’s web site earlier today. They apparently were posted in error or posted prematurely because they were since taken down. All references to nuCLEus were briefly removed from Stark’s website but since restored using an aerial graphic showing only the existing parking lot at the proposed site.
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It’s official. Cuyahoga County has put on the market one of the most attractive properties for redevelopment in years. The former Cuyahoga County Engineer’s headquarters at the west end of the Detroit-Superior Veterans Memorial Bridge is expected to fetch the most interest by real estate developers among four sites in the county’s latest disposition of surplus properties.
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A potentially strategic property transfer in downtown Cleveland nearly slipped under the radar last week. Not only was the transfer publicly filed the Friday right before the Christmas holiday weekend, perhaps to avoid attention, but it was sold using a process that concealed the details of the transaction.
Read MoreStark Enterprises sells its HQ, but to whom? And why? Read More »
A skeptical Clevelander would look at the above map where five potential major real estate developments may rise atop the West Rim of the Cuyahoga River valley and question how many will actually get built. An optimistic Clevelander would be certain that most, if not all, will get built. And an older, lifelong Clevelander would look at that map and be amazed that there are five potential major projects at all.
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Anyone who has tried to buy a high-quality, competitively-priced home in Lakewood in the last year or two knows the drill. The real estate search is one of the most difficult scavenger hunts you’ll play. Unless you’re willing to sacrifice many features you want in a home or make a high, all-cash offer, a Lakewood housing hunt is not a game for the impatient.
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Over the past 30 years, Lakewood has lost more than 1,700 housing units, with only Cleveland, East Cleveland and Euclid losing more. The average age of its housing stock is the second-oldest in the county. At the same time, growing interest in traditional, walkable communities has made Lakewood a hot real estate commodity. It’s why Lakewood had the highest property value rate of increase, 22.5 percent, among all Cuyahoga County communities in 2018.
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Presidential candidate Ross Perot in 1992 famously referred to a “huge sucking sound” when it came to jobs leaving the USA. When money starts pouring into a city like Cleveland, it ought to make a sound, too. It is, and people are noticing.
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More developments are cozying up to the Greater Cleveland Regional Transit Authority’s. Red Line and station in Cleveland’s Ohio City neighborhood. The scope and scale of the planned developments are unlike anything that’s been built along Cleveland’s underutilized rail transit system, outside of the downtown area and University Circle. The lack of dense developments around rail stations has a direct correlation to the usage of the rail system. But that’s starting to change.
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