Another big investment coming to Lakewood

5 Comments / Ken Prendergast / November 21, 2018

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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Big developments converge on Ohio City’s Red Line station

2 Comments / Ken Prendergast / November 8, 2018

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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Is Sherwin-Williams ready to paint Cleveland’s sky?

2 Comments / Ken Prendergast / October 31, 2018

On Jan. 22, 2016, some 6,000 Sherwin-Williams Co. (SHW) salespersons began descending upon the Fortune 500 company’s annual National Sales Meeting in Orlando, Fla. Many were excited and not just because it was the paint and coatings company’s 150th year in business. Reportedly, a large number of attendees expected to learn about the company’s grand birthday prize to itself — a shiny new headquarters tower in SHW’s home city of Cleveland, Oh.

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Gentrification takes a Vantage in Ohio City

5 Comments / Ken Prendergast / October 18, 2018

Gentrification and Cleveland aren’t words that have gone together much in recent decades. But they’re mixing more often and, unfortunately, forcing more persons to relocate without them reaping financial windfalls from real estate sales.

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Smaller nuCLEus may come from a Dream

3 Comments / Ken Prendergast / September 4, 2018

Two rumors about new real estate developments may not be unrelated as they first appeared. In fact, they may be directly connected.

The first rumor is that Stark Enterprises’ nuCLEus development may be going forward after all, albeit scaled back. The second rumor is that a boutique hotel is coming to the Warehouse District.

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Lakewood commercial conversions continue

8 Comments / Ken Prendergast / July 13, 2018

In a follow-up to an earlier posting here at NEOtrans about Lakewood redevelopment, there is new activity to report. Two significant properties for sale are reportedly under contract to buyers who want to redevelop these with new uses.

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Cleveland’s core entering new-construction mode

2 Comments / Ken Prendergast / June 1, 2018

The latest report from the Downtown Cleveland Alliance (DCA) on the progress of downtown had an especially interesting data set in it. That report, for the First Quarter of 2018, showed that the last of downtown’s obsolete commercial buildings (offices, warehouse, department store, etc.) being converted to residential (along with several new construction projects) will put the population of downtown Cleveland at about 20,000 people by 2020.

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Downtown Cleveland’s next big building may surprise

2 Comments / Ken Prendergast / October 19, 2017

Among three or four residential towers and a new skyscraper for a Fortune 500 headquarters, the next big building to rise in downtown Cleveland may surprise many. It grew out of a learning process by city officials that downtown didn’t have more than 500,000 square feet of office and garage space ready-made for the needs of its police department. And a single real estate company holds the key to making a new building happen.

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Zombies say: start building a downtown Cleveland office tower soon

3 Comments / Ken Prendergast / September 7, 2017

In the movies, zombies can’t put two words together. In Cleveland real estate development, they are sharing a subtle yet compelling message of encouragement.
Zombies in downtown Cleveland are former office buildings awaiting renovation with significant portions of them due to be converted to non-office uses, usually residential and occasionally hotel.

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Cleveland markets its new industrial sites

1 Comment / Ken Prendergast / May 26, 2017

Development of the largest shovel-ready industrial/warehousing sites in the City of Cleveland aren’t attracting much private-sector interest despite Cleveland’s low prices. Meanwhile, inner-ring suburbs offering large parcels that are almost shovel-ready are having greater success in drawing private sector interest and potentially thousands of jobs from significant planned developments.

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