Residential Real Estate News

A brief summary of the most relevant and major residential real estate news in Greater Cleveland

Slavic Village’s Olympia Building to be renovated

Increased interest in reviving historic structures around the mostly intact Broadway-East 55th intersection in Cleveland’s Slavic Village neighborhood has expanded to include the 113-year-old Olympia Building, 3335-3361 E. 55 St. That building will feature renovated apartments over existing storefronts and the preserved lobby for the Olympia’s adjacent movie theater demolished long ago.

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First look: new 3-story restaurant-speakeasy downtown

Although the names and themes were previously announced, designs for a new French-themed restaurant and speakeasy in Downtown Cleveland were made publicly available for the first time yesterday. They show a well-appointed establishment with a construction budget to match. The hospitality offerings are due to open later this year at the new 23-story City Club Apartments, 776 Euclid Ave., to offer Clevelanders more le plaisir.

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Tremont Treehouse Apartments plans announced

A joint venture proposing a four-story apartment building in Cleveland’s Tremont neighborhood called the Treehouse Apartments, first reported by NEOtrans last month, will go before the City Planning Commission’s Design Review Committee to present their plans this Friday. While the project would add dozens of new housing units to the neighborhood to respond to as-yet unsatiated demand, it would also result in the demolition of three 19th-century houses.

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Flats luxury finally coming home

It’s the type of housing development that could not be achieved in Cleveland’s Flats until now. And the proof of that statement rests with the multiple prior attempts at developing this site. While there’s still a ways to go, a big step forward was made on Friday when City Planning Commission’s Design Review Committee approved the construction of luxury housing and a retaining wall along Carter Road.

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Cleveland’s Watterson-Lake redevelopment evolves

More details are emerging for the proposed Watterson-Lake redevelopment in Cleveland’s Detroit-Shoreway neighborhood including the project’s growing size, parking situation, how it will be funded and who will manage the property. According to a project funding application posted earlier this month by the Ohio Housing Finance Agency (OHFA), the answer to the last question is the Cuyahoga Metropolitan Housing Authority (CMHA).

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Ohio City, Tremont developments advance

While it’s tough to get financing for larger development projects anywhere these days, it is possible to add a meaningful number of housing units by dividing them up among smaller projects. That’s what Dalad Group of Independence and partner Property Advisors Group (PAG) of Beachwood are doing by pursuing more than 100 apartments on Cleveland’s near-West Side among a mix of new-construction and renovation projects.

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Cleveland, Berea construction firms unite

The Albert M. Higley Co., a Cleveland-based provider of construction contracting services since 1925, announced today it has merged operations with T. Allen Incorporated of Berea. The parties said that they consider this to be a strategic union which marks a pivotal moment, consolidating two esteemed companies into a formidable force within the carpentry industry.

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Cleveland development: what to look for in 2024 — University Circle

Back when Cleveland was an industrial powerhouse, few wanted to live near its dirty, noisy industries. Today, its largest source of employment is the education and health services sector — a cleaner industry to which it’s attractive to live within a short walk or bike ride. It is centered in and near University Circle, surrounded by long-neglected neighborhoods. But investment has been coming into those places — Hough, Fairfax, Glenville, Cleveland Heights’ Top of the Hill, and East Cleveland’s Circle East — bolstering them as neighborhoods of choice.

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