NEOtrans business, development, real estate, construction and market trend news from the West side of Cleveland
The Cleveland Animal Protective League (APL) this week closed on a significant property transaction that sold several acres of previously undeveloped land in Cleveland’s fast-growing Tremont neighborhood. Buying the land was Knez Homes, one of Northeast Ohio’s largest housing developers.
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Conceptual plans for a potentially transformative development were revealed yesterday for an aging industrial district overlooking upper Edgewater Park.
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For the first time in 50 years, NASA began in 2014 replacing Glenn Research Center office and lab buildings. The construction work continues today.
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On Monday, the City of Cleveland’s Board of Zoning Appeals (BZA) overturned a rejection by City Planning Commission of plans for building 11 market-rate townhomes at a vacant lot at 4705 Bridge Ave. in the Ohio City neighborhood.
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This is the Twenty-Second edition of Seeds & Sprouts – Early intelligence on Cleveland-area real estate projects.
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Combine a tight apartment market in Cleveland’s urban core with a relatively large undeveloped property in Tremont and the outcome isn’t surprising. What is surprising is that it has taken this long for an 0.8-acre vacant property along Fairfield Avenue west of West 11th Street to get developed.
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One month ago, NEOtrans published news from two sources that NRP Group would reactivate its plans for a development with 300-plus residences on Scranton Peninsula in Cleveland’s Flats. Tomorrow, those plans are being presented to the City Planning Commission for final approval.
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Financing could be secured this spring for the redevelopment of the northwest corner of Pearl and Memphis in the heart of Cleveland’s Old Brooklyn. But a casualty of the investment would be the 119-year-old St. Luke United Church of Christ.
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This is the Twenty-First edition of Seeds & Sprouts – Early intelligence on Cleveland-area real estate projects. Because these projects are very early in their process of development or just a long-range plan, a lot can and probably will change their final shape, use and outcome.
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NRP Group appears to have had a change of heart about its decision to walk away from developing on Scranton Peninsula, according to two sources with direct knowledge of the company’s plans.
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