A brief summary of the most relevant and major commercial real estate news in Greater Cleveland
Two big actions happened in the past week to support new affordable housing next to Historic League Park in Cleveland’s Hough neighborhood. One was a $3 million investment by University Hospitals in the proposed Gateway66 apartment complex. The other was a building permit application submitted to the city for that project.
Read MoreUH invests $3M in housing next to League Park Read More »
For leaders of the Urban Community School (UCS), West 47th Street has been a street of dreams. But those dreams are becoming a reality in 2025, with more to come by the end of the year – including a new baseball field of dreams.
Read MoreUCS’s West 47th remake to include new ballpark Read More »
There’s still a lot we don’t know about Great Lakes Brewing Company’s (GLBC) vision for Scranton Peninsula in Cleveland. But NEOtrans has learned that there are once again plans for the independent craft brewery to make a big investment in Cleveland Flats rather than relocate to an exurban site along an interstate highway.
Read MoreGreat Lakes Brewing picks Scranton Peninsula Read More »
Design review of East Stokes, what would be University Circle’s tallest building, was moving along at a rapid clip last fall. Things were moving so quickly that the development team, led by PCP Voyager, anticipated that if City Planning Commission could approve the final plans by Thanksgiving, a spring groundbreaking of 24-story apartment tower might be possible.
Read MoreUniversity Circle tower goes back to drawing board Read More »
A design review panel of Cleveland’s Planning Commission today approved Bedrock’s final masterplan for its multi-phase, $3.5 billion riverfront development. But while the vote was unanimous, commission members asked some pointed questions about how all of its components would successfully come together.
Read MoreCommission OKs Bedrock’s riverfront masterplan Read More »
NEOtrans was first to report several weeks ago that a grand-opening ceremony for Sherwin-Williams’ new headquarters was scheduled for next month despite that a “major hiccup and flaw” in construction of the tower had to be repaired. Now, that ceremony has been pushed back by seven months, according to public records secured by NEOtrans.
Read MoreSherwin-Williams HQ opening delayed 7 months Read More »
When the chains start replacing mom-n-pop businesses in a growing neighborhood, some welcome them as a validation of its success. Others reject them as a weakening of a neighborhood’s uniqueness that created that success in the first place. So the replacement next year of the popular Soho Chicken + Whiskey with a Chipotle Mexican Grill could be the start of a shift in Ohio City’s Market District in Cleveland.
Read MoreChipotle expanding to Ohio City Read More »
Everything from helping to finance a new stadium for the Cleveland Browns to funding sports programs for low-income families could be supported by a new sports facility and education fund sought by Ohio Gov. Mike DeWine in his proposed state budget. But the proposed fund doesn’t pick a stadium site for the Browns, which appears to give Downtown Cleveland site backers more of a win than it does for the owners of the pro football team.
Read MoreIs DeWine’s stadium tax idea a good bet? Read More »
On Friday, Judge Christopher Boyko at the U.S. District Court for the Northern District of Ohio ordered the North Point office complex in Downtown Cleveland be placed in the hands of a receiver to manage the property and, more specifically, to pay its creditors. The request was made earlier in the week by Wells Fargo Bank, as trustee for the benefit of the registered holders of GS Mortgage Securities Corp.’s distressed loan collateralized by the property.
Read MoreReceiver appointed for Downtown office complex Read More »
After 26 years in business, Downtown Cleveland’s Holiday Inn Express, 629 Euclid Ave., will close. But its already got a replacement lined up in the form of an AC Hotel by Marriott, according to a developer leading the transformation.
Read MoreDowntown hotel to have new operator Read More »
