NEOtrans business, development, real estate, construction and market trend news from the East side of Cleveland
Community developments groups Cleveland Neighborhood Progress and Burten Bell Carr Development have purchased the historic Shaker Square shopping center. The sale keeps the property under local, community-minded ownership and triggers a process by which deferred maintenance issues can be addressed and a strategy can be developed that will stabilize the center short-term and ensure it flourishes long-term.
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In 2012, backers of and participants in a study of improving the East 66th Street corridor in Cleveland’s Hough and MidTown neighborhoods probably couldn’t imagine how much development would be happening over the next decade along this long-neglected corridor. Many of those same stakeholders are now seeking a major investment in this north-south street to support its further development over the coming decade.
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When the Porta-Potties show up at a new construction site, you know it’s for real. In the 9500 block of Buckeye Road in Cleveland’s Buckeye-Woodhill neighborhood, the construction equipment showed up today, too. They’re there to be a part of building the $46.4 million Woodhill Station West development that will bring 120 apartments offering modern housing and on-site amenities mostly to residents of the aging Woodhill Homes public housing complex just north of here. However 30 of the apartments will be offered to anyone who meets income guidelines.
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While a complete list of applicants for so-called “megaproject” tax credits won’t be available until sometime next week, NEOtrans has learned who a few of the local applicants are and aren’t, including at least one surprise. The deadline was today at 5 p.m. for submitting applications to the Ohio Department of Development for the second round of Transformational Mixed Use Development (TMUD) tax credits that could total $100 million.
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A largely vacant triangle of land in the southern part of Cleveland’s University Circle could see construction of a 261-unit residential development start by year’s end. But the part of the triangle that still has a building on it has been a source of debate for the community.
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Community development corporation Famicos Foundation proposes to build two buildings comprised mostly of apartments at two locations along Superior Avenue in Cleveland’s Glenville neighborhood. The two projects would develop underutilized properties along a once-vibrant street lined with vacant land and abandoned buildings, to provide quality workforce and senior housing that helps draw University Circle’s energy a little farther north.
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Contrary to the narrative that office markets nationally and especially in Greater Cleveland are dead, two new reports show they are very much alive. And while they’re not fully recovered from the pandemic and remote working, some office markets including Cleveland’s have shown surprising resilience.
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UPDATED JUNE 21, 2022: MRN Ltd. Partner Ari Maron sent the following e-mail message to NEOtrans exactly five hours after this article was published: “As a result of your article we have withdrawn our application for this project. Please update your blog.”
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A site that’s been on Marous Development Group’s to-do list for 15 years is finally on its getting done list. Located on the north side of Chester Avenue, between East 81st and 82nd streets, a 1.6-acre piece of vacant land is proposed for the construction of another modern apartment building for Upper Chester in Cleveland.
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Masonic Hall renovations enter next phase. Downtown’s H5 Data Center to expand. East 89th housing units offer classic design. Planet Fitness to exercise lease at Uptown.
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