NEOtrans business, development, real estate, and construction news from the Downtown Cleveland area
Except for one brief instruction, property-owning freight railroad CSX Transportation didn’t participate in a feasibility study for extending the Cuyahoga Valley Scenic Railroad’s (CVSR) passenger trains into Downtown Cleveland. But that instruction, described as “a gold-plated” request, forced the study team to conclude that the CVSR extension would not be feasible — for now.
Read MoreCSX makes CVSR downtown extension infeasible Read More »
Although the grand-opening ceremony for the new Sherwin-Williams headquarters tower has been set, repairs to already finished areas are pushing occupancy of the tower months farther into the future. Some employees told NEOtrans they don’t expect to migrate over to the new tower until next fall.
Read MoreSherwin-Williams HQ grand opening set, tower isn’t Read More »
Mayor Justin Bibb’s administration is requesting an important amendment to the city’s riverfront tax increment financing (TIF) district that would do three things. One spells out exactly what infrastructure work would be done. A second would extend the 30-year TIF to 42 years. And the third and perhaps most controversial is that it would pledge undefined future TIF revenues to start infrastructure work now.
Read MoreCity seeks future TIF funds for Riverfront work now Read More »
Customers who have accounts at Flagstar Bank’s Downtown Cleveland branch received letters this week saying that the branch will be closing at the end of March and that all accounts will be moving to Flagstar’s Ohio City branch. But the $2.6 billion question is: why?
Read MoreDowntown Flagstar Bank closing; What does it mean? Read More »
The headquarters of steelmaker Cleveland-Cliffs could move from its namesake city to Pittsburgh if Cliffs is successful in acquiring US Steel, Cliffs CEO Lourenco Goncalves said. But a Cleveland City Hall source today said Mayor Justin Bibb spoke with Goncalves who reportedly reassured him that relocating Cliffs 1,000-plus staffpersons from Cleveland at this stage is just speculation.
Read MoreGoncalves: a Cliffs-USS HQ would be in Pittsburgh Read More »
Today, the city of Cleveland announced that it was awarded $69.3 million from the U.S. Department of Transportation (USDOT) for its ambitious downtown lakefront redevelopment. This is the second major federal grant for the downtown lakefront since October when the city was awarded $59.7 million from the USDOT. Construction is due to start in 2027.
Read MoreCleveland wins second big lakefront grant Read More »
Back in 1925, Albert Higley Sr. did what the founders of many new companies owners did. He started building small. But unlike many new companies, his Cleveland-based construction firm didn’t stay small for long. Now, 100 years later, The Albert M. Higley Co. also known as AMHigley, is thinking big as it refreshes its image for the next century.
Read MoreHigley hits a hundred in 2025 Read More »
Closing of financing for the $218 million redevelopment of the 38-story Erieview Tower and Galleria redevelopment in Downtown Cleveland was announced today by two advisors to the project. The momentous occasion signals an immediate start for residential construction, although some of the remaining office tenants in the building told NEOtrans that site-prep work is already underway.
Read MoreErieview Tower financing done, work starts ASAP Read More »
At the start of the new year, employers are expanding, relocating, renovating and otherwise retrofitting their office spaces. Ironically, the current and former Oswald buildings in Downtown Cleveland are the addresses where most of these investments are planned, according to public records. As NEOtrans reported last week, 2025 may be the year that Cleveland returns to the office.
Read MoreNew downtown office expansions, renovations Read More »
Although Cleveland Planning Commission’s Design-Review Committee gave a unanimous thumbs-up today to conceptual plans for downtown’s Canal Basin Park, it wasn’t without some suggestions for improvement. The design team for the 20-acre park, located between turns in the curvaceous Cuyahoga River, will come back to the commission with refined, more detailed schematic designs in the coming months.
Read MoreDowntown’s Canal Basin Park design gets early OK Read More »
