Development News – Page 69

NuCLEus gets financing, possible August groundbreaking

3 Comments / Ken Prendergast / June 28, 2019

To paraphrase Mark Twain, the reports of the nuCLEus development stalling were greatly short-lived. For those of us who welcome investment in downtown Cleveland, we’re grateful for the news.

Just last week, sources said all signs indicated that the $354 million project to build two 24-story towers between Prospect Avenue, Huron Road and East 4th Street had stalled. The delay apparently was the result of complications surrounding a $12 million loan from the city. It was among the final pieces of financing for the project.

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Seeking opportunity in the Opportunity Corridor

Ken Prendergast / June 20, 2019

This week I took a tour of the completed portion of the Opportunity Corridor, a project whose side mission is to change land use and turn dirt in a part of the city where the dirt hasn’t been turned in a very long time.

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Downtown’s nuCLEus stalls with impasse, tiny Stark equity

3 Comments / Ken Prendergast / June 19, 2019

Another bump in the road has stalled the massive nuCLEus development in downtown Cleveland. This time it has stalled from an impasse over a city loan, even as the project has garnered more than 95 percent of its funding and was scaled down to two-thirds of its previous size. The last piece of financing seems to be eluding the joint venture of Stark Enterprises and J-Dek Investments Ltd.

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Sherwin-Williams has Cleveland’s number, thankfully

Ken Prendergast / June 7, 2019

One number can convey a lot information. But it also leaves a number of questions unanswered.
As many longtime readers of this blog know, I’ve been closely following Sherwin-Williams’ (SHW) worsening office space situation and upcoming request for proposals (RFP) to build a new world headquarters (HQ) in the Greater Cleveland area.

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Sherwin-Williams’ HQ: will it be Ohio’s tallest or suburban-bound?

3 Comments / Ken Prendergast / May 20, 2019

UPDATE: Sherwin-Williams isn’t commenting on this story and, after it was published, an internal e-mail was sent to company managers and department heads advising them to not comment if any media asks about the company moving its headquarters/research and development activities to new facilities.
It appears the stakes couldn’t be higher for the City of Cleveland as global coatings giant Sherwin-Williams Co. (SHW) prepares to issue a request for proposals from development teams seeking to build a massive new headquarters and research facility.

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Old CPD station? New CPD station

Ken Prendergast / May 5, 2019

Trying to repurpose an existing building in or near downtown Cleveland for the city’s new police headquarters was a well-intentioned exercise with a cost-saving goal. Despite it not being fulfilled, the effort may still have a happy ending. The reason is the police department may go back to its old home.

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University Circle’s trio of 11-story developments

1 Comment / Ken Prendergast / May 3, 2019

Three developments featuring 11-story residential buildings are planned to rise in the coming months in Cleveland’s University Circle.
The Finch Group is proposing to build a mixed-use project called Infinium on the site of the Cleveland-East facility for the Centers for Dialysis Care (CDC), 11717 Euclid Ave., according to two sources.

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Cleveland is rising up in the O-Zone

Ken Prendergast / April 30, 2019

Last week I sat in a small conference room with nearly a dozen real estate developers and investors planning a cool new project in Cleveland’s urban core. I was there to add my two cents on a transportation access component of that project. Seated in the corner of the room was another guy, representing a lending institution that provides equity from one of the many fast-growing Opportunity Zone Funds.

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Developers discover Midtown’s other axis

3 Comments / Ken Prendergast / April 25, 2019

Much of the rebuilding in Cleveland’s Midtown, between downtown and University Circle, has focused along the parallel east-west roadways of Euclid, Carnegie and Chester avenues. But the primary north-south axis, East 55th Street, is largely devoid of similar development activity. That’s true even where East 55th intersects Euclid, Carnegie and Chester.

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Hingetown, Cleveland’s hottest development hotbed

6 Comments / Ken Prendergast / April 17, 2019

Hingetown, that little enclave within a neighborhood within a city seemingly couldn’t be growing any faster than already it is. No matter where you stand in Hingetown these days, you’re either standing next to a 21st-century real estate development, across the street from one or you can see one less than a block away. Increasingly, in Hingetown, you’re surrounded by projects.

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