NEOtrans business, development, real estate, and construction news from the Downtown Cleveland area
Today was a hooley 175 years in the making. Hundreds of people celebrated today on the banks of the Cuyahoga River, across the waters from the lietir, or hillside where work is already starting to stabilize a slope on which Irish immigrants settled under difficult circumstances long ago. Today, their struggle is about to be memorialized with the $100-plus million Irishtown Bend Park.
Read MoreShoving ye spades into the leitir Read More »
All five above-ground buildings in downtown’s Justice Center complex, plus a below-ground parking garage, are being offered for sale by Cuyahoga County as a result of other efforts that could partially or completely vacate the entire 2-million-square-foot facility. The sale includes a three-year leaseback with four additional one-year renewal options so the county and city of Cleveland will have time to carry out those vacating efforts. No sale price was listed for the property but if you have to ask, you probably can’t afford it anyway.
Read MoreFor sale: The Justice Center Read More »
Cleveland Construction, Inc., the contractor behind the City Club Apartments project in downtown Cleveland, celebrated a significant construction milestone as the project reached its full height. The “Topping Out” event was held today and highlighted by a team lunch provided by Fahrenheit’s food truck and a ceremonial steel beam signing by all the craft professionals building the project.
Read MoreCity Club Apartments tops out Read More »
For the past 14 years, Tom McNair rode the Rapid from Shaker Square to Ohio City where he led its community development corporation in different roles. At the end of September, his train will have a new destination — Cleveland City Hall. Mayor Justin Bibb announced yesterday that McNair will be the city’s new director of economic development.
Read MoreMcNair tapped as new development director Read More »
Three years ago, when Cleveland-Cliffs made some big moves, NEOtrans asked the question. Three years later, we’re asking it again. If Cliffs is able to acquire rival United States Steel (USS), as recently proposed, what impact might this have on the combined company’s headquarters situation?
Read MoreWould Cliffs + USS = a new tower? Read More »
As Dan Gilbert’s real estate firm gets ready to roll out the details of phase one of its riverfront development, a neighboring fixture on the banks of the Cuyahoga River since 1894 may not be around much longer. The long-closed Cleveland Thermal steam heating plant, 2274 Canal Rd., along with possibly other properties of Cleveland Thermal Generation LLC are in the process of being acquired, according to a real estate source.
Read MoreCleveland Thermal target of acquisition Read More »
Two historic buildings are proposed to be torn down for a 16-story, mixed-use development in Cleveland’s Ohio City neighborhood, despite information that financing, including the use of air rights, for the high-rise is still being finalized. A demolition permit application was filed Aug. 4 by architects for Bridgeworks LLC with the city’s Building Department following recent approvals of the demolitions by the city’s Landmarks Commission and a design review committee. But the approvals by those two panels in the City Planning Commission were made with the presumption that the overall Bridgeworks development would be carried out.
Read MoreOhio City buildings to be razed for Bridgeworks Read More »
A company owned by billionaire Dan Gilbert has secured a permit from the U.S. Army Corps of Engineers for the reconstruction of bulkheads along the edge of the Cuyahoga River, a federal navigation channel. The approved work will be one of the first tangible pieces of Detroit-based Bedrock Real Estate’s huge Cleveland Riverfront Development Project.
Read MoreBedrock to start riverfront work Read More »
A $193 million redevelopment of half-empty Erieview Tower and its associated and similarly vacated Galleria shopping mall, 1301 E. 9th St., is the first big project to request a scaled-down tax abatement from the city under Mayor Justin Bibb’s new abatement policy. That policy reduces the amount of tax abatement for new construction or renovation in stable, wealthier neighborhoods in Cleveland, including downtown.
Read MoreErieview, Galleria redo: steps forward, back Read More »
In recent months, the Greater Cleveland Regional Transit Authority (GCRTA) has served notice that its rail system isn’t going anywhere. And that could be interpreted in one of two ways. In one way, GCRTA plans to invest $540 million by the end of this decade to rebuild its 34-mile rail system including a new, standardized light-rail fleet plus rebuilt tracks and stations on the Red, Blue and Green lines. Greater Cleveland’s “Rapid” is sticking around for decades to come. But taking it another way, there are no expansion plans while ridership on GCRTA buses and trains fell nearly 60 percent from 2013 to 2021 “led” by its rail system which fell even farther, from 9.3 million boardings in 2013 to 2.9 million in 2021.
Read MoreGCRTA stations: lots of opportunity Read More »
