NEOtrans business, development, real estate, and construction news from the Downtown Cleveland area
Two large Downtown Cleveland employers may be reversing course regarding their future office locations. One was bound and determined to leave for the suburbs but now its plans are up in the air. And despite the grist coming from the real estate rumor mill, the other employer says it’s not going anywhere — yet.
Read MoreDowntown employers reconsider suburban moves Read More »
Last evening, a new Cleveland Housing Investment Fund (CHIF) was launched when Cleveland City Council passed legislation that requires the city to provide financing to the new fund. The city’s $18 million commitment leverages $20 million pledged by Cleveland-based KeyBank to boost the development of mixed-income rental housing and home ownership opportunities.
Read MoreCleveland launches affordable housing fund Read More »
A George family-owned billboard that metastasized into three as a result of a 2023 court settlement has found its third and final landing spot in Cleveland. That third billboard site is a piece of a city-owned parcel on the Opportunity Corridor near Quincy Avenue that is unlikely to be developed with any other uses, according to a city official. Title to the land will be transferred to the Georges.
Read MoreGeorge’s third billboard lands on Opportunity Corridor Read More »
Ricardo León gained something by losing something. He lost the prefix “Interim” prior to his title of “President” of the Cuyahoga Land Bank, a private, nonprofit government entity whose mission it is to acquire properties, return them to productive use, reduce blight and increase property values in Cuyahoga County.
Read MoreLeón to lead Cuyahoga Land Bank Read More »
After four years of going through multiple design iterations, it somehow seems natural that Bridgeworks finally got the OK today from the city to start construction — but only up to the second floor. To build above that, the project’s development team is going to have to come back to the city for design approval of the building’s top five floors. The team pledged it would do so — quickly.
Read MoreBridgeworks can finally build – up to two stories Read More »
With each new donation and grant, sponsors of the planned $45 million Irishtown Bend Park in Cleveland’s Ohio City neighborhood move closer to their fundraising goal. And today, they moved a lot closer with $10.8 million awarded by the National Park Service’s Outdoor Recreation Legacy Partnership (ORLP) Program.
Read MoreIrishtown Bend Park gets $10.8M federal grant Read More »
While Amtrak’s press release about the creation of a temporary Chicago-Florida passenger rail service through Cleveland touted it as an achievement, the reality behind it is actually quite different. According to several sources, the direct service is being implemented to rescue Amtrak from its own shortcomings — both internal and external.
Read MoreRealities behind Amtrak’s ‘new’ train to Florida Read More »
Two reports laying out the steps for potentially closing Burke Lakefront Airport in Downtown Cleveland were released today by Cleveland Mayor Justin Bibb’s Administration. While Bibb said the reports show there are more benefits to closing Burke than costs, he and other city officials caution that no decision has been made to close the airport, so no steps have been started in that direction yet.
Read MoreBurke Airport closure studies released by city Read More »
NEOtrans has learned that one of Ohio’s oldest craft brewers is not only seeking to remain in Cleveland but is dusting off old plans to move its production facilities to Scranton Peninsula in Cleveland’s Flats. Sources familiar with the Great Lakes Brewing Company’s (GLBC) plans said that if public funding can be found to clean and prepare the vacated industrial site for redevelopment, it will likely relocate there.
Read MoreGreat Lakes Brewing revisits Scranton Peninsula move Read More »
When they sold their properties on Old River Road in Cleveland’s Flats East Bank to a developer nearly three years ago, Samsel family members had declined to answer where they would relocate their commercial supply business, Samsel Supply Company. No one else in local real estate circles seemed to know either. Turns out the reason was a simple one that few had considered — they’re not relocating. They’re closing.
Read MoreSamsel Supply to close its doors after 66 years Read More »
