NEOtrans business, development, real estate, and construction news from the Downtown Cleveland area
A Stark Enterprises executive has confirmed that the firm’s dramatic nuCLEus development planned for downtown Cleveland is on hold after seven years of planning and searching for the right public subsidy to overcome Cleveland’s high construction costs and low rents.
Read MoreStark confirms nuCLEus project is ‘on hold’ Read More Âğ
Growing enrollment at Cleveland State University may soon cause visible changes to downtown Cleveland’s landscape. According to two sources close to the university, CSU is in negotiations to acquire two large apartment properties that would allow it to more than double its inventory of on-campus student housing.
Read MoreCSU looks to double its on-campus housing Read More Âğ
There appear to be seven applicant real estate projects across the state that may apply for funding from a new state intended to support megaprojects. But one notable project may sit out this application round.
Read MoreCleveland & Columbus to field nearly all of the TMUDs Read More Âğ
Law firm Benesch, Friedlander, Coplan & Aronoff LLP may expand into Key Tower rather than relocate to nuCLEus, dealing a major blow to the long-planned downtown Cleveland development.
Read MorenuCLEus may lose its largest pledged tenant to Key Tower Read More Âğ
Downtown Cleveland’s residential market is on fire based on the occupancy and average rental prices of major buildings, the pace of renting and the oft-debated population growth of downtown.
Read MoreData shows downtown residential is hot Read More Âğ
Conceptual plans for a large Flats East Bank development by Chicago and Cleveland developers were released today.
Read MoreFlats East Bank plans reveal $84 million project Read More Âğ
The Cleveland Indians/Guardians may acquire the city-owned Gateway East Garage in 2024-25 and sell or partner with a real estate investor to redevelop it to help raise funds for Progressive Field’s renovation.
Read MoreCleveland Indians may buy garage for ‘ballpark village’ development Read More Âğ
The more things change, the more they stay the same. A century ago, the city of Cleveland was eager to work with the private railroads to replace its undersized, outdated lakefront train station with a glamorous new downtown terminal. The new lakefront station would be a key component of its ambitious Group Plan designed by Daniel Burnham to remake the central business district into a setting of beautiful public buildings built along a park-like mall.
Read MoreBedrock riverfront joins downtown lakefront in mega-planning Read More Âğ
New York City-based real estate firm SomeraRoad is proposing a big addition to several downtown properties it acquired two years ago along Bolivar Road east of East 9th Street and Progressive Field.
According to documents submitted to the city prior to seeking conceptual approval from Cleveland City Planning Commission, SomeraRoad wants to construct a seven-story apartment building with 203 units. The project would consist of a two-level parking garage with ground-floor retail and topped by the new apartments.
Gateway live-work apartments planned, more possible Read More Âğ
This is the Twentieth edition of Seeds & Sprouts – Early intelligence on Cleveland-area real estate projects. Because these projects are very early in their process of development or just a long-range plan, a lot can and probably will change their final shape, use and outcome
Read MoreSeeds & Sprouts XX – Downtown moves, tenant shrinks & more Read More Âğ
