NEOtrans business, development, real estate, construction and market trend news from the East side of Cleveland
A small piece of land in University Circle with big possibilities is being offered for sale or redevelopment in partnership with the current owner, Rico Pietro, a well-known local real estate broker. But no construction is imminent as the current user, a contract ambulance service for Cleveland Clinic, is only halfway through a 10-year lease on the site.
Read MoreUniversity Circle site offered for mid-rise apartments Read More »
Perhaps as early as Monday, affordable housing developer Pennrose LLC of Philadelphia will get a deed and the keys to the hulking mass of brick. concrete, steel and memories that is the Warner & Swasey Co. factory, 5701 Carnegie Ave. The hope since 2018 has been to turn this long-vacant site into affordable housing. But if money was as abundant as hope for this property, its redevelopment wouldn’t have experienced a new, $2 million setback.
Read MoreWarner & Swasey faces $2M gap, needs help Read More »
Asiatown was a neighborhood that was on the upswing 20 years ago. There were new restaurants, shopping venues like Asia Plaza, Tyler Village and other commercial developments, multiple new housing offerings such as the Asian Evergreen and Body Block Arcade apartments, plus several longstanding grocers including Dave’s Market, 3301 Payne Ave., had renovated their properties.
Read MoreMidtown Lofts advances with support, concerns Read More »
NEOtrans has learned that the developer of a 30-acre spread of land in suburban Highland Hills isn’t marketing the assembled parcels to a new, job-rich end-user. The reason is that the developer already has one lined up for the land, located in the 22700 block of Millcreek Blvd.
Read MoreIndustrial user lined up for Highland Hills site Read More »
The largest redevelopment site in Cleveland’s Lee-Harvard neighborhood now has a development team selected to repurpose it with a vibrant, mixed-use district of housing, neighborhood retail, civic uses and public spaces, according to a community vision crafted last year.
Read MoreJFK High site to gain new life in Lee-Harvard Read More »
Eight redevelopment project sites won a total of nearly $18 million from the Ohio Department of Development’s Brownfield Program so the sites can be cleaned up and, in some cases, their existing structures are to be demolished. One of those where demolition is planned is the former Cleveland Thermal steam plant, 2274 Canal Rd., in Downtown Cleveland.
Read MoreDowntown steam plant to be razed, redeveloped Read More »
In a $30.6M deal, a national real estate investment firm added 119 newly constructed apartments in Cleveland’s Hough neighborhood to its growing portfolio. New Jersey-based Reynolds Asset Management acquired Park Lamont, 9606 Lamont Ave., and The Lumos, 1866 E. 93rd St. Both are located a short walk or bike ride from jobs and classrooms in booming University Circle.
Read MoreTwo new Hough developments sell for $30M Read More »
Too much is never enough. When you’re marketing land to new end-users, you can’t have enough clean, developable land in the urban core. And one of the largest, if not the largest in the city of Cleveland has just been assembled by the Cuyahoga Land Bank. The site is located at 12610 Kirby Ave. in Cleveland’s Glenville neighborhood, bordering on Collinwood.
Read MoreGlenville Job-Ready Site more than doubles in size Read More »
Cuyahoga Land Bank and First National Bank (FNB) have announced a new partnership to accelerate development in the Circle East District in East Cleveland by supporting homeownership. Since 2022, the land bank has been busily rebuilding this neighborhood next to University Circle from the sewers up.
Read MoreBanking on a large East Cleveland development Read More »
When Miceli Dairy Products, 2721 E. 90th St. in Cleveland, broke ground today for the expansion of its new cold storage facilities, it also teased a follow-on project — a planned new research center plus mozzarella cheese manufacturing plant next to the Opportunity Corridor Boulevard. These additions in the coming years are anticipated to double Miceli’s current employment of 250 people.
Read MoreMiceli Dairy anticipates doubling its employment Read More »
