NEOtrans business, development, real estate, construction and market trend news from the East side of Cleveland
Plans were submitted to Cleveland’s Department of Building and Housing for an Amazon Delivery Station offering at least 200 jobs to be located at 400 Heidtman Pkwy. in the Industrial Valley next to Cleveland’s Slavic Village neighborhood. However, not everyone at the city who was informed of the plans realized it was for Amazon – unless they read the fine print.
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Demolition and site preparation work got underway earlier today to clear the way for the 44-unit Baricelli Inn Apartments in Cleveland’s Little Italy neighborhood. The project has traveled a long road to get to this point but is finally moving forward.
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One thing’s for certain — the Coronavirus pandemic hasn’t slowed the rapid spread of plans for high-rise towers in Cleveland.
The latest is a proposed 19-story, $60 million Dream Hotel proposed to rise alongside the Masonic Temple, 3615 Euclid Ave. The project was announced today by investor Beaty Capital Group of Fort Smith, AR.
Proximity to the Great Lakes has long been a real estate selling point. For much of Cleveland’s history however, access to Lake Erie centered on industrial development. But in the post-industrial era, being close to the lake means attracting investment in recreational and residential uses.
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When Pennrose LLC won a $1 million tax credit allocation this week from the Ohio Housing Finance Agency for the redevelopment of the Warner & Swasey factory, it not only boosted the project’s development prospects, it also boosted Midtown’s.
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A significant, multi-phase residential development is proposed on the border of the Hough and Fairfax neighborhoods, in the vicinity of Chester Avenue and East 75th Street. It and other developments represent a continued spillover effect from booming employers and residential investments in neighboring University Circle.
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Historically, the area around Penn Square/East 55th Street was one of two “mini-downtowns” along Euclid Avenue east of the city’s central business district. Doans Corners/East 105th Street was the other, dubbed Cleveland’s Other Downtown.
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UPDATED MARCH 11, 2020
As more sections of the 3-mile, $330 million Opportunity Corridor Boulevard open, more stakeholders are pursuing real estate opportunities. That’s especially true where the first two sections have opened, from East 93rd Street north to Chester Avenue. Work is moving forward on the third and final section from East 93rd west to East 55th Street, set to open in two years.
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When Midwest Development Partners first announced its Circle Square plan five years ago, then-called University Circle City Center or UC3, it was considered bold and ambitious.
Cleveland in 2015 was still shaking off the body blows it took from the Great Recession and even from the early-2000s recession before that. But this was University Circle — Cleveland’s fastest-growing employment hub.
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ARTICLE UPDATED ON FEB. 25, 2020
Between Cleveland’s growing Ohio City and Clark-Fulton neighorhoods is a deadzone of railroad tracks, a 10-lane Interstate highway, scrap recycling businesses and two historic cemeteries. But efforts are gearing up to pump new life into this area.
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