A brief summary of the most relevant and major residential real estate news in Greater Cleveland
A new report released today by international real estate firm Colliers shows that multifamily development in Greater Cleveland isn’t keeping up with demand. The result is that average rents in the Cleveland area are now the highest of any metro area in the state.
Read MoreCleveland has Ohio’s highest apartment rents Read More »
In Cleveland’s Ohio City neighborhood, the spring season is well underway — and so are numerous apartment complexes, ranging from ground-up construction projects to residential conversions of historic buildings.
Read MoreOhio City residential developments advance Read More »
Redevelopment partners celebrated this week the grand opening of Sankofa Village IV, completing the 236-unit, $115 million Cedar Extension Transformation Plan in the Central neighborhood of Cleveland. The final phase added 50 high-quality, affordable rental homes to the 17-acre former Cedar Extension site of public housing.
Read MoreCentral continues to transform with completion of Sankofa Village Read More »
In Cleveland’s Ohio City neighborhood, plans to erect two townhomes on a historic stretch of Fulton Road are progressing. The townhomes would fill a gap between two 20th-century structures currently used as a gravel parking lot in front of a small single-family home.
Read MoreFulton townhomes in Ohio City get OK Read More »
A clearer picture is emerging of Silver Hills’ proposed mixed-use development at 8014 Euclid Ave. in Cleveland’s Fairfax neighborhood after a project description was recently submitted to the city. NEOtrans broke the news of Silver Hills’ latest Cleveland development more than two weeks ago.
Read MoreRestoring density to Euclid Ave. Read More »
Construction activity on Cleveland’s West Side is ramping up inside the Transit-Oriented Development (TOD) Zone — defined by the city as the land within a quarter mile (about a five-minute walk) of a high-frequency transit station. Developments within the zone are exempt from parking mandates, reducing construction costs and encouraging transit ridership.
Read MoreTOD signals future for Detroit Avenue Read More »
A financial incentive originally designed to spur new construction in Downtown Cleveland has instead helped other Ohio downtowns. But with the Transformational Mixed Use Development (TMUD) tax credit program renewed by the Ohio General Assembly, there is a renewed chance for the program to benefit its birthplace.
Read MoreWill TMUD’s return transform Cleveland? Read More »
Today, there were two blessings. One was a ceremonial blessing of a flagship development that’s just getting started in Cleveland’s Glenville neighborhood by new real estate developer Tiffany Hollinger.
Read MoreGlenville renovation a blessing to Circle North Read More »
Sometimes it’s good to be the first. Sometimes it’s not. A two-phase, 72-unit apartment development planned at 8400 Lake Ave. in Cleveland’s Detroit-Shoreway neighborhood probably falls somewhere in between the two extremes as it was the first large project to be submitted and approved under the city’s pilot Form-Based Zoning Code.
Read MoreDevelopment by Edgewater Park OK’d Read More »
While revitalization efforts since the 1990s have transformed Cleveland’s Ohio City into a vibrant urban destination, the demolition of vacant, abandoned, and fire damaged homes has scarred some blocks with empty lots. Construction of new “infill” development in the SoLo (South of Lorain) neighborhood is restoring the south side of Ohio City to its former glory — and in theory, creating an immediate source of property tax revenue.
Read MoreSoLo developments rebuild Ohio City housing stock Read More »
