Commercial Real Estate News

A brief summary of the most relevant and major commercial real estate news in Greater Cleveland

Fairview Hospital’s North Campus plan gets Rx

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Although a conceptual plan for Fairview Hospital’s North Campus $150 million redevelopment won unanimous support from Cleveland Planning Commission on Friday, commissioners attached a few conditions to it. At the same meeting, the commission also recommended that Cleveland City Council approve rezoning the hospital’s properties with a more appropriate classification. The hospital is located at 18101 Lorain Ave. in Cleveland’s Kamms Corners neighborhood.

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Projects OK’d for affordable housing loan, credits

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In Cleveland, one east-side housing development and one west-side development are set to receive 4-percent Low Income Housing Tax Credits (LIHTC) from the Ohio Housing Finance Agency (OHFA). The agency announced that determination yesterday in a spreadsheet posted on its Web site. A third project won a $1.75 million OHFA loan, OHFA said in a written statement released today.

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Haslams announce Brook Park stadium-area development partner, updated plans

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New details emerged today on the proposed $1.2 billion mixed-use district surrounding the Haslam Sports Group’s (HSG) proposed all-purpose, roofed stadium in the Cleveland suburb of Brook Park. HSG announced that Lincoln Property Company, a global real estate firm, will be the development partner for the Cleveland Browns’ 176-acre mixed-use entertainment district.

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Old Brooklyn structures OK’d for demolition

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In the coming months, the busy intersection of Memphis Avenue and Pearl Road in the heart of Cleveland’s Old Brooklyn neighborhood will look very different. The change is due from the City Planning Commission’s approval on Friday of an application to demolish four buildings at that intersection, each of which are historic structures but in varying stages of decay.

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Shoreway Tower has construction in view for 2025

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There’s been lots of progress lately on the development of a proposed 13-story Shoreway Tower overlooking Edgewater Park in Cleveland’s Gordon Square neighborhood. Revising easements for a sewer right of way, transferring properties for a tax-increment financing (TIF) district, and advancing legislation to authorize that TIF could allow construction to start sometime in 2025.

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Tick Tock Tavern closing after 75+ years

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It’s not often that a restaurant survives more than a few years. Rarer still is the restaurant that lasts nearly eight decades. Tick Tock Tavern, which has been at the same location, 11526 Clifton Blvd., in the Edgewater neighborhood of Cleveland since the year before the last electric streetcars rumbled by in 1948, is set to close its doors forever in just 12 days.

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Gordon Square development wins approval

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Projects can move fast in Cleveland when you coordinate with stakeholders and align with the Planning Commission. That’s what happened with a proposed mixed use development in the Gordon Square neighborhood dubbed the “Soap Site” went from a conceptual plan revealed publicly only a month ago, to unanimous final design approval today by commission members.

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