Construction News – Page 23

Cleveland’s exciting parking garage project. No, seriously

Ken Prendergast / May 16, 2020

Parking garages aren’t usually all that exciting. But one planned for the Flats’ West Bank might be the most exciting parking garage in Cleveland in 15 years.

In 2005, the nine-level 515 Euclid garage was designed and built with the promise of a future high-rise atop it. That garage ended up attracting Stark Enterprises which built the 19-story, $95 million Beacon apartment tower. Beacon saw construction start in 2017; it opened last year.

Cleveland’s exciting parking garage project. No, seriously Read More »

Demolition, groundbreaking this week for big Ohio City project

Ken Prendergast / April 13, 2020

Demolition work is scheduled to start today for the $140 million Intro phase of the Market Square development in Cleveland’s Ohio City neighborhood. But if you wanted to attend a groundbreaking ceremony for this mixed-use project, the coronavirus crisis has made that risky and unnecessary.
There’s still going to be a groundbreaking in the coming days,

Demolition, groundbreaking this week for big Ohio City project Read More »

Lack of city hall tech risks making construction sector sick

Ken Prendergast / April 3, 2020

On March 24, the Greater Cleveland Regional Transit Authority’s (GCRTA) Board of Trustees did two things it had never done before.
One, GCRTA’s board voted to help form and partially own a unique public-private corporation to acquire and oversee development of its Ohio City Red Line station-area property in partnership with Carnegie Management and Development Corp.

Lack of city hall tech risks making construction sector sick Read More »

Financing set, work starts at Ohio City’s Intro

Ken Prendergast / March 24, 2020

UPDATED MARCH 24, 2020

Overnight work began late Monday (March 23) on expanding utilities in the vicinity of a planned mixed-use development that will further enliven one of Cleveland’s most recognizable intersections.

The development is Harbor Bay Real Estate Advisors LLC’s Market Square and the intersection is Lorain Avenue at West 25th Street onto which the iconic tower of West Side Market casts its shadow. The first phase of Market Square is Intro — a nine-story building with 290 market-rate apartments over 36,000 square feet of retail and 550 underground parking spaces. Note that these renderings show only seven stories.

Financing set, work starts at Ohio City’s Intro Read More »

How the Coronavirus is affecting construction in Cleveland

Ken Prendergast / March 13, 2020

UPDATED MARCH 16, 2020

As successful investor Warren Buffet says, “Be greedy when others are fearful.”

So are Greater Cleveland’s real estate developers fearful or greedy as Ohio and the country goes into Coronavirus emergency? And what might be the long-term implications of the pandemic on pending real estate developments?

How the Coronavirus is affecting construction in Cleveland Read More »

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25 on 25: twenty-five developments along/near West 25th

1 Comment / Ken Prendergast / December 29, 2019

If it seems like there’s been a lot of news lately about developments along West 25th Street between the Cleveland neighborhoods of Ohio City and Brooklyn Center, you’re right. And there’s more to come in that 2.5-mile-long corridor.

25 on 25: twenty-five developments along/near West 25th Read More »

Cleveland ended the decade with a boom, and it’s showing

7 Comments / Ken Prendergast / December 23, 2019

When John Knopfler and his spouse moved into their Tremont house where a large family had just moved out, each did what many are doing in Cleveland these days. They’re participating in the city’s Fifth Migration, bringing with it socio-economic changes unlike any experienced from the previous four migrations in the past 223 years.

Cleveland ended the decade with a boom, and it’s showing Read More »

Market Square tax abatement isn’t the issue; it’s about control

2 Comments / Ken Prendergast / August 29, 2019

With just 35 minutes to go before an Aug. 13 meeting of the Ohio Air Quality Development Authority’s (OAQDA) board of trustees, representatives of Harbor Bay Real Estate Advisors thought their request for $150 million in 30-year bonds and a property tax exemption would be approved.

Market Square tax abatement isn’t the issue; it’s about control Read More »

Ten million square feet of downtown Cleveland construction

3 Comments / Ken Prendergast / February 11, 2019

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.

Ten million square feet of downtown Cleveland construction Read More »

Transit station-area development activity paces region-Part 2

1 Comment / Ken Prendergast / September 1, 2017

For those who keep track of new real estate developments in Greater Cleveland, they might be noticing something about the location of these developments. Where are most of the planned, proposed, under-construction and recently completed developments? If you said “within walking distance of a Greater Cleveland Regional Transit Authority rapid transit line” you’d be right!

Transit station-area development activity paces region-Part 2 Read More »