Cleveland West

NEOtrans business, development, real estate, construction and market trend news from the West side of Cleveland

Another big investment coming to Lakewood

Over the past 30 years, Lakewood has lost more than 1,700 housing units, with only Cleveland, East Cleveland and Euclid losing more. The average age of its housing stock is the second-oldest in the county. At the same time, growing interest in traditional, walkable communities has made Lakewood a hot real estate commodity. It’s why Lakewood had the highest property value rate of increase, 22.5 percent, among all Cuyahoga County communities in 2018.

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Big developments converge on Ohio City’s Red Line station

More developments are cozying up to the Greater Cleveland Regional Transit Authority’s. Red Line and station in Cleveland’s Ohio City neighborhood. The scope and scale of the planned developments are unlike anything that’s been built along Cleveland’s underutilized rail transit system, outside of the downtown area and University Circle. The lack of dense developments around rail stations has a direct correlation to the usage of the rail system. But that’s starting to change.

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Lakewood Ohio’s new residential boom times

Lakewood’s primary commercial district, Detroit Avenue, is becoming a lot more residential. The changeover in land use is due in large part to a change in business preferences, resulting in opportunities to offer contemporary housing in a stable, walkable community. The last time the city had so much land available for development was before the Great Depression of the 1930s.

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