Real Estate News

Data-rich and deep analytical information about Greater Cleveland real estate news

New developer turns in big property plays

A Beachwood-based real estate development company that’s less than two years old is making a lot of big moves in acquiring real estate in Cleveland’s urban core. The “where, why and how” questions surrounding those acquisitions are answered by “who” is behind those buys.

Read More

Shaker Square commercial district sold

Community developments groups Cleveland Neighborhood Progress and Burten Bell Carr Development have purchased the historic Shaker Square shopping center. The sale keeps the property under local, community-minded ownership and triggers a process by which deferred maintenance issues can be addressed and a strategy can be developed that will stabilize the center short-term and ensure it flourishes long-term.

Read More

CentroVilla25 may start construction this fall

It has been years in the making, but things are finally starting to come together with CentroVilla25. Building permits were filed with the city last week for the start of construction that will turn a vacant warehouse at 3140 W. 25th St. into a center of Hispanic culture, shopping and entrepreneurship for Cleveland’s La Villa Hispana (Clark-Fulton) neighborhood. That follows City Planning Commission’s Design Review Committee giving the project schematic approval earlier this month — with conditions.

Read More

Bedrock: downtown streetscapes coming

Cleveland was once called the “Forest City” because of its many large, healthy trees along its major thoroughfares. One would never know that today after 150 years of industrialization and then neglect in the city’s post-industrial era. Now, there are many parts of the city that are devoid of mature trees, notably downtown where the lack of vegetation makes the central business feel hotter in summer and more windy in winter. But Bedrock Real Estate of Detroit has released plans to make downtown sidewalks more hospitable, or at least those fronting its own properties in the city’s urban core.

Read More

INTRO phase 2 gets a bit clearer

After a developer entered a project design contest recently, it did more than just win some money. It also gave some insights into its next big construction project in Cleveland’s Ohio City neighborhood. But a spokesman for the developer, Harbor Bay Real Estate Advisors, cautioned that the basic design it submitted was merely a study of how the project’s second phase could be built in an innovative way.

Read More

Five Iron Golf to fill four storefronts

Downtown Cleveland’s Euclid Avenue is a bit of a dead zone between East 9th and East 12th streets, but it’s not for a lack of residential. Almost every building on both sides of the street were converted from offices to residential uses over the past decade. What silences this stretch of downtown’s historic main street is the scarcity of ground-floor activities.

Read More

Lumen tower no longer for sale

If you were gathering up spare change in the hopes of buying The Lumen, Cleveland’s tallest residential building, you’re probably out of luck. The reason is that The Lumen’s owner, the Playhouse Square Foundation (PSF), is reportedly taking the 34-story apartment tower off the market. And it wasn’t just out of your price range. It was out of everyone’s range.

Read More

Great Lakes Brewing on the move

A number of factors have come together to prompt the Great Lakes Brewing Co. to seek a relocation of its production facilities from its longtime location in the heart of Cleveland’s Ohio City neighborhood. Previously, the large craft beer brewer had considered expanding production to properties it acquired over the last four years along the Cuyahoga River on Scranton Peninsula in the Flats. Now it appears that it may move all of its production to the nearly 10-acre site.

Read More

Artcraft Building has a new suitor

Often the biggest domino is the last one to fall. That’s the case in the Superior Arts District where one former warehouse/textile building after another is falling under the redevelopment knife and coming out with a new lease on life. The biggest of those old buildings is the Artcraft Building, 2530-2570 Superior Ave. and is proving to be the most difficult to get rehabilitated.

Read More

Glenville regaining Superior density

Community development corporation Famicos Foundation proposes to build two buildings comprised mostly of apartments at two locations along Superior Avenue in Cleveland’s Glenville neighborhood. The two projects would develop underutilized properties along a once-vibrant street lined with vacant land and abandoned buildings, to provide quality workforce and senior housing that helps draw University Circle’s energy a little farther north.

Read More