Economic trends – Page 12

Seventeen 10+ story projects may see construction in the next year

Ken Prendergast / March 3, 2021

In Cleveland, there are 17 buildings of more than 10 stories tall that could see their construction start in the next year. And with out-of-town developers showing greater interest in Greater Cleveland, especially after the state passed the Transformational Mixed-Use Development (TMUD) tax credit, there may be another building or two that comes out of nowhere and surprises us in the next 12 months.

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Cleveland’s lakefront may get boost from new stadium, trains, ships

Ken Prendergast / February 1, 2021

Lots of pieces are coming into place that could greatly impact downtown Cleveland’s lakefront in a very positive way. There are many challenges to be sure, but it seems that the planets are aligning for good things to happen.

These good things center on three basic ingredients — trains/transit, shipping and development.

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Looking into the Cleveland Innovation District’s past, future

3 Comments / Ken Prendergast / January 26, 2021

For more than a year, there have been rumors of a major research and development initiative aimed at University Circle and downtown Cleveland and the health care and educational institutions located there.

But the full breadth and scale of the initiative wasn’t publicly revealed until today, culminating in the announcement by Gov. Mike DeWine and others regarding a Cleveland Innovation District fostering up to 20,000 jobs over the next 15 years. The state, led by JobsOhio, and the Cleveland Clinic Foundation (CCF) will put up $565 million to get the district off the ground in a big way.

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Counting Cranes – predicting TMUD’s impact on Cleveland

Ken Prendergast / January 3, 2021

One of the most impactful actions to boost downtown Cleveland in the New Year and beyond was made in recent weeks and months 125 miles to the south in our state capital. It culminated with Gov. Mike DeWine signing a piece of legislation last week. In a state legislature that has gained a reputation for harming Ohio’s largest urban centers, it actually helped them this time.

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Report: Downtown Cleveland office market withstood 2020

Ken Prendergast / January 1, 2021

In its latest Skyline Report, real estate services firm Jones Lang LaSalle (JLL) said downtown Cleveland’s office market is far healthier than some had feared. Its report had some interesting data to share, showing that downtown is quietly waiting for the all-clear from pandemic-related restrictions to resume its renaissance.

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Health-Tech Corridor to see a busier 2021

Ken Prendergast / December 21, 2020

On most days, Jeff Epstein is a very busy man. Not only is he executive director of the community development corporation MidTown Cleveland Inc., he also heads up the Health-Tech Corridor.

The Health-Tech Corridor is a decade-old collaboration between MidTown Cleveland, BioEnterprise, The Cleveland Foundation and the City of Cleveland. It works to attract and grow health technology businesses to the corridor linking Downtown and University Circle.

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Ohio lawmakers pass skyline-altering bill

Ken Prendergast / December 8, 2020

Ohio Senate voted 28-2 to concur with the Ohio House of Representatives’ changes to Sub. SB39, the Transformational Mixed-Use Developments tax credit. The bill has been forwarded to Gov. Mike DeWine for his signature to become law.

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30 Cleveland-area megaprojects that may benefit from a TMUD tax credit

Ken Prendergast / November 26, 2020

After this Thanksgiving holiday week, state lawmakers say there’s a pretty good chance that the Ohio General Assembly will finally pass the long-sought Transformational Mixed Use Development (TMUD) tax credit. And there’s potentially dozens of so-called megaprojects that the TMUD credit could activate or take already active projects and push them across the finish line.

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Cleveland’s real estate revs up for first time since March

Ken Prendergast / November 10, 2020

It’s as if someone turned the electricity back on and got the gears of Greater Cleveland’s real estate sector turning again. Today, NEOtrans heard from a real estate professional about that surge and began asking around to see if other experts in the business locally were experiencing the same thing. Turns out they were.

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Cleveland-area offices shrinking, growing, moving and uncertain

Ken Prendergast / October 10, 2020

The real estate market is divided into four basic end-users — residential, hospitality, retail and office. Although the retail market has been shrinking for years, it is basically on hold during the pandemic with some exceptions. The hospitality market is pretty much in a coma but it will probably return healthy once it regains consciousness. Only the residential market has shown a great deal of resiliency throughout the pandemic.

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