Real Estate News

Data-rich and deep analytical information about Greater Cleveland real estate news

Half of ex-Westinghouse plant to be razed

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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

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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

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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

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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

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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

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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

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“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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Shaker Square commercial district sold

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Community developments groups Cleveland Neighborhood Progress and Burten Bell Carr Development have purchased the historic Shaker Square shopping center. The sale keeps the property under local, community-minded ownership and triggers a process by which deferred maintenance issues can be addressed and a strategy can be developed that will stabilize the center short-term and ensure it flourishes long-term.

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