Cleveland’s Watterson-Lake redevelopment evolves

Ken Prendergast / January 31, 2024

More details are emerging for the proposed Watterson-Lake redevelopment in Cleveland’s Detroit-Shoreway neighborhood including the project’s growing size, parking situation, how it will be funded and who will manage the property. According to a project funding application posted earlier this month by the Ohio Housing Finance Agency (OHFA), the answer to the last question is the Cuyahoga Metropolitan Housing Authority (CMHA).

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NE Ohio wins two transformational tax credits

Ken Prendergast / January 29, 2024

Out of eight Northeast Ohio development projects that applied for Transformational Mixed Use Development (TMUD) tax credits from the state, only two of them received the awards, the Ohio Department of Development announced today. This was the third year of the four-year TMUD program with $100 million available in TMUD tax credits each year.

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Cleveland-based NRP Group names new CFO

Ken Prendergast / January 29, 2024

Cleveland-based NRP Group, one of the nation’s top-10 largest developers and managers of multifamily housing, has a new executive to guide the company’s strong finances through some challenging market headwinds. The change in leadership comes as a result of the retirement of the company’s longtime top financial manager.

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Ohio City, Tremont developments advance

Ken Prendergast / January 25, 2024

While it’s tough to get financing for larger development projects anywhere these days, it is possible to add a meaningful number of housing units by dividing them up among smaller projects. That’s what Dalad Group of Independence and partner Property Advisors Group (PAG) of Beachwood are doing by pursuing more than 100 apartments on Cleveland’s near-West Side among a mix of new-construction and renovation projects.

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Lakefront megasite – for housing or distribution hub?

Ken Prendergast / January 24, 2024

A company that acquired a large piece of prime Cleveland lakefront land in December is a bit of an enigma if for no other reason because of its youth. This company, IDA Power LLC, is getting its hands on some very problematic yet high-potential properties around the country. It is engaged in a lengthy process of cleaning up those sites and turning them into productive properties again. But the company’s young life may give some insight into what we might expect here.

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West Park GCRTA station housing planned

Ken Prendergast / January 21, 2024

Four days after receiving City Planning Commission approval for one transit-oriented development project, an Indianapolis-based developer will ask to buy land from the Greater Cleveland Regional Transit Authority (GCRTA) for its next proposed apartment building at a west-side train station. This time, Flaherty & Collins wants to build at GCRTA’s West Park station, 14510 Lorain Ave.

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Sherwin Williams: ‘didn’t build tall enough’

Ken Prendergast / January 19, 2024

From Sherwin-Williams’ C-Suite executives to construction workers taking their lunch break, more rumblings continue to emerge about what may follow the completion of the global coatings giant’s new headquarters west of Downtown Cleveland’s Public Square. And as time goes on, the rumors about a follow-on headquarters project are getting more detailed.

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George plans new Flats redevelopment

Ken Prendergast / January 17, 2024

Scheduled to appear before the City Planning Commission’s Design Review Committee this Friday is a proposed redevelopment of several Flats East Bank properties. It’s the latest effort by restauranteur Bobby George and his Cleveland-based firm Ethos Hospitality Group to remake these riverside buildings into a restaurant and entertainment complex. This time it would include a new building, a dockside “river garden” and rehabilitated historic structure.

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Cleveland’s Carnegie contains a comeback

Ken Prendergast / January 15, 2024

Carnegie Avenue in the 70s of Cleveland’s Midtown neighborhood was a mixed bag of speed, sin, steaks and seafood. And that applies to both the decade and the 10-block stretch of the East 70s along one of the busiest streets linking University Circle and Downtown. But today, the scene is changing quickly as the growth in jobs and residential development in those two hubs is spilling over to the place in between.

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The downtown tower that almost was

Ken Prendergast / January 13, 2024

High construction and financing costs along with a longer move-in timeline doomed an intriguing new Downtown Cleveland headquarters building for a growing tech firm relocating from Mayfield Heights. Those construction market headwinds along with the rise in remote working led to Park Place Technologies finding an existing office campus next to Interstate 271 in Highland Heights near its current offices that fit its needs like a glove.

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