Real Estate News – Page 25

Downtown Cleveland’s ‘office market needs help’

1 Comment / Ken Prendergast / October 7, 2022

This week, global real estate brokerage Newmark released its third quarter office market report for Greater Cleveland and the news wasn’t good, especially for downtown Cleveland. While three of five submarkets in the metropolitan area saw declining occupancies of office spaces in July-September, none suffered a greater loss than the central business district. That district includes everything from Ohio City east through Downtown to Midtown.

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Will Sherwin-Williams’ HQ be a pretty bunker?

1 Comment / Ken Prendergast / October 6, 2022

To sit or not to sit, that was the question that caused the biggest debate today among members of a design-review panel of Cleveland’s City Planning Commission prior to supporting landscaping and site amenity plans for Sherwin-Williams’ (SHW) new global headquarters. The question became a point of debate over concerns of whether adding benches to the outdoor areas of the downtown HQ would attract homeless people to sleep there as is already the case at locations throughout the adjacent Public Square.

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MetroHealth starts West 25th development work

Ken Prendergast / September 30, 2022

MetroHealth System, developer NRP Group and RDL Architects Inc. have begun conversations with the City Planning Commission on the early stages of advancing the development of two large buildings on the west side of West 25th Street, across from the hospital’s main campus. The two buildings, to be located in Cleveland’s Clark-Fulton neighborhood, would provide market-rate apartments and affordable units for seniors, plus a new police station and ground-floor commercial uses along West 25th’s sidewalk.

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Half of ex-Westinghouse plant to be razed

Ken Prendergast / September 27, 2022

Planning documents submitted to the city yesterday reveal that slightly more than half of the former Westinghouse plant overlooking the West Shoreway and Lake Erie could be demolished in preparation for the redevelopment of the surviving structures. According to sources familiar with the project, the surviving portions at the plant at 1200 W. 58th St. in Cleveland are proposed to be redeveloped as a boutique hotel, apartments and leasable commercial spaces plus parking.

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GCP’s new web tool gives development insights

Ken Prendergast / September 11, 2022

A new Web-based development tool went live today to give prospective real estate investors more information on where and what is going on around sites in which they may be interested. The tool, developed by the Greater Cleveland Partnership and City Architecture of Cleveland, is available to the public free of charge and without any registration required.

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Money turning Circle East plan to reality

Ken Prendergast / September 9, 2022

There have been lots of plans over the decades for stopping the decline of East Cleveland. But most were unfunded or lacked the necessary political stability to be implemented over the long haul. A new plan has come to the fore over the past few years to rebuild the west end of the city, closest to University Circle. And now the money is finally coming, too.

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McDonald Hopkins investing $8M in Fifth Third Center

Ken Prendergast / September 6, 2022

After announcing its intentions to stay at its current offices in downtown Cleveland, McDonald Hopkins LLC is doing more than just staying put. Last week it submitted architectural documents to the city’s Building Department for an $8 million renovation of its headquarters site. The 92-year-old law firm had considered relocating to other buildings, both new and planned, real estate insiders said.

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Greater Cleveland TOD initiative on track

Ken Prendergast / September 6, 2022

A new initiative has started that, if successful, could reverse decades of urban sprawl, a hollowing out of Greater Cleveland’s urban core and an erosion of its transit system. Those conditions create a wide variety of problems that hurt the region’s environment, safety, economy, human health and exacerbates poverty. The new initiative would reverse that course by encouraging more pedestrian-friendly, mixed-use developments along high-frequency transit corridors in Cleveland and Cuyahoga County.

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Two old Hough walk-ups: two fates

Ken Prendergast / August 29, 2022

Two century-old, walk-up apartment buildings face each other on East 89th Street in Cleveland’s Hough neighborhood. One is structurally unsound and in danger of collapse after it was neglected by a so-called foundation facing a huge unpaid tax bill. The other will have its renovation and expansion plan reviewed by a committee of the City Planning Commission starting this week after it was bought by a successful, civic-minded local investor.

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Buckeye neighborhood plan sets goals

Ken Prendergast / August 19, 2022

“That neighborhood has good bones” is often said about an inner-city community as its leaders look for foundations in the area to aid its comeback. Unfortunately, it is not always true the bones are good or if they even exist. But for Cleveland’s Buckeye neighborhood, located on the city’s southeast side, it has a number of features in it or nearby that can be considered good bones on which muscles can be enhanced to regain lost strength.

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