Real Estate News

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Centennial still alive, among Ohio Brownfield winners

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Without any visible activity in nearly two years, rumors circulated throughout Cleveland’s development community that the roughly $500 million Centennial redevelopment, 925 Euclid Ave. in Downtown Cleveland was dead. Similar rumors circulated about the fate of the Rockefeller Building, 614 W. Superior Ave., and renovations to Rhodes Tower, 2124 Chester Ave., one of the projects in Cleveland State University quieted development master plan.

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Three vacant drugstores, three possible outcomes

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In Councilman Danny Kelly’s Ward 11 on Cleveland’s West Side, there are three vacant drugstores. Each is facing a different potential outcome. A former CVS on Madison Avenue at West Boulevard may be replaced by a fire station after a gas station was rejected by the neighborhood. An abandoned Rite Aid at West 117th Street and Lorain Avenue may become a senior center. And a vacant Walgreens at West 130th Street and Bellaire Road could turned into a supermarket with a gas station.

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Ohio City townhomes project gets 2nd shot

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A long-planned and contentious townhomes development at 4705 Bridge Ave. in Cleveland’s Ohio City neighborhood is seeing signs of construction activity after being on hold for nearly three years. The project’s revival is due to several factors including an improved for-sale housing market of lower interest rates, more fluid financing for construction and a new construction contractor that was hired.

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Cedar Branch YMCA to become African Town Plaza

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On this Thanksgiving, we’re reminded that there was a place on the city’s East Side that was once a source of thanks and appreciation to young African-American men for 70 Thanksgivings. That place was the Cedar Branch YMCA that helped young men gain a foothold to start climbing in the community. It could be that again for future Thanksgivings after it is renovated as a mixed-use project thanks to plans and financing that are now coming together.

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Lakewood’s Barry Buick to fall, apartments to rise

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Another one of Lakewood’s former car dealerships on Detroit Avenue is about to come down. Next to fall is Steve Barry Buick, 16000 Detroit Ave., that closed in 2018, to be replaced by a pair of four-story apartment buildings plus a stand-alone bank branch. Site work could potentially start in a few months, said a Lakewood city official.

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Ex-Leisy Brewery site back on the market again

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Only 18 months after buying the former Leisy Brewery property, 3400 Vega Ave. in Cleveland’s Ohio City neighborhood, an affiliate of Sanctus Capital LLC of Westlake has put the site back on the market again. It’s the second former brewery this year that was put up on the market in this part of town. Across Fulton Road, the closed Platform Brewery was put up for sale in May.

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