Downtown Cleveland

NEOtrans business, development, real estate, and construction news from the Downtown Cleveland area

Cuyahoga County nears a courthouse decision

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Cuyahoga County and its real estate consultant are getting closer to making a recommendation for a Consolidated Courthouse proposal in downtown Cleveland. NEOtrans has learned that one or more proposals were eliminated from further consideration in part because the timeline for delivering a new or renovated/expanded courthouse facility is apparently an overriding factor for county officials. In this era of high construction costs, the aphorism “time is money” couldn’t be more true.

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Cleveland seeks urban core tax-increment financing district

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Cleveland’s biggest source of tax base is its downtown which supports services and infrastructure in the rest of the city. City officials are seeking to leverage investments in its urban core to create a feedback loop to support downtown and other neighborhoods. But not everyone is convinced this is a good thing for the rest of the city and cynics are seeking more information and research before deciding.

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Cleveland, Berea construction firms unite

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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 — Downtown

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For many in the real estate investment community, 2023 was the year when few new big projects were financed. The projects that were already financed under better, prior market conditions saw their construction advance, making the real estate landscape appear rosier than it really was. Now, however, as we enter 2024, there is a light at the end of the tunnel with developers already reviving or making new plans.

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Cleveland Lake Shore Power Plant land gets new owner

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It seemed too good to be true, and alas, it was. Title to a large, mostly vacant property for the former Lake Shore Power Station, 6800 S. Marginal Rd., in Cleveland, is being transferred to a new owner. The 62-acre site is across Interstate 90 from the bulk of Cleveland Metroparks’ lakefront improvements. But it’s not the Metroparks, the city or even a developer seeking to add recreation, housing or a mix thereof next to Lake Erie.

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Downtown Cleveland skyscraper sells cheap

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According to a well-placed source, Downtown Cleveland’s third-tallest skyscraper is under a purchase agreement from a New York City-based buyer. The 45-story Huntington Building, also known as 200 Public Square, has seen its share of challenges since the pandemic and the rise of remote working nearly four years ago as other office properties have. That is one reason why the building has reportedly sold for a vastly discounted rate.

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Record Rendezvous building among historic renovation awards

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An historic building in Downtown Cleveland that housed Record Rendezvous, where the term “rock and roll” was reportedly first used to describe the genre, was awarded tax credits to aid in its restoration. It was among dozens of historic buildings across the state that were awarded credits today by the Ohio Department of Development.

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