Data-rich and deep analytical information about Greater Cleveland real estate news
After sitting empty for seven years, the space at Tower City Center that housed Hard Rock Cafe in downtown Cleveland finally will have a new restaurant with a new theme, possibly as early as this September. But it took an invitation from Bedrock Cleveland to consider the site at 230 W. Huron Rd. before the new restaurant’s partners decided to splashdown there.
Read MoreAstro to launch from a Hard Rock Read More »
Last week, NEOtrans wrote about three high rises in a single development — the first phase of Bedrock’s riverfront site — that could see construction start by this time next year. But that is by no means the only downtown high-rise development in the works. NEOtrans is aware of 13 high-rise projects of 10 stories or more in various stages of development, not including those already under construction downtown. This inventory includes only potential new-construction high-rises, not major renovation projects like The Centennial, redevelopment of the Rose Building and others.
Read MoreA dozen high-rises in the works downtown Read More »
Another leading indicator of potential population growth in Greater Cleveland was published this week by Bank of America (BofA), one of the nation’s Big Four banking institutions, serving more than 10 percent of all bank deposits of the United States. In a BofA June report, it put Greater Cleveland among the top metro areas benefitting from pandemic-instigated domestic migration trends, with its positive inflow-over-outflow rate ranking up there with the likes of Austin, Tampa, Orlando and Dallas.
Read MoreBofA: they’re coming to Cleveland Read More »
Plans for Bedrock Real Estate’s riverfront development alongside Tower City Center in downtown Cleveland are rapidly coming together after recent city approvals of its development masterplan. Those plans, albeit still at a conceptual stage, provide insights into Bedrock’s desires and thinking about what land uses it wants to include in its first phase. From those plans and other new information, it appears that the uses to be included are primarily ones that Bedrock’s owner Dan Gilbert can control.
Read MoreBedrock riverfront phase 1 uses ID’d Read More »
A deep-pocketed company that’s less than two years old and based in suburban Westlake has been busily acquiring residential properties in Cleveland, primarily on the city’s West Side. And last week, the company, Sanctus Capital LLC, made its biggest purchase yet — a 5-acre parcel at 3400 Vega Ave. sold by Caraustar Recovered Fiber Group Inc. that was home to Leisy Brewing Co., once Cleveland’s largest independent brewery.
Read MoreNew company amassing Cleveland properties Read More »
First reported by NEOtrans more than two months ago, the Playhouse Square Foundation announced officially today that it will begin work in June on converting half of the Bulkley Building, 1501 Euclid Ave., in downtown Cleveland into market-rate apartments. Additionally, the nonprofit community development organization also said it has converted the fourth floor of the Hanna Building, across the street at 1422 Euclid, into co-working spaces called Backstage at PSQ.
Read MorePlayhouse Square announces new projects Read More »
With financing now in hand, look for demolition and construction work to start this summer for the Residences at Bolivar, 1060-1124 Bolivar Rd., in downtown Cleveland’s Gateway neighborhood. The work was made possible by Chicago-based JLL Capital Markets arranging $38.5 million in construction financing and co-general partner equity in the project from an affiliate of another Chicago firm, Leopardo Companies. JLL Capital Markets announced the financing in a written statement this week.
Read MoreDowntown project wins financing Read More »
Some buildings are just walls, floors and a roof. Others have architecture, history and modifications that encourage visitors and tenants to crane their head or to look around each corner as they listen to their buildings’ curators tell stories and experiences about them. Its setting is among the reasons why the Brownhoist Building, 4403 St. Clair Ave., in Cleveland’s St. Clair-Superior neighborhood has become an idea-generating co-working space for artists.
Read MoreBrownhoist lifts a new future Read More »
Developers of a large apartment complex in Cleveland’s University Circle could start construction of the $40 million project before August if all goes well in the coming weeks. That optimism was earned today after City Planning Commission gave the project final approval of its new, overhauled design and a zoning change to accommodate that design. The development is different from several others nearby because it isn’t trying to brush with or break through the top of the market when it comes to rents. Instead, Stokes West intends to offer smaller, more affordable apartments, many of them already furnished for new arrivals in Cleveland and from across the world.
Read MoreStokes West gets go-ahead Read More »
Don’t tell Matt Berges that new home construction in the U.S. is in a 15-month-long slump. The owner of Cleveland-based housing development firm Berges Home Performance LLC will tell you that success depends on what you’re building and where. The where in this case is the near-West Side, specifically Duck Island, a neighborhood Berges helped rebuild. But it is running out of space for more new homes, prompting the 23-year-old firm to look elsewhere to satisfy an as-yet insatiable housing demand.
Read MoreAs Duck Island fills, Berges goes SOLO Read More »
