NEOtrans business, development, real estate, construction and market trend news from the Greater Cleveland area
The director of the Northeast Ohio Areawide Coordinating Agency (NOACA), a metropolitan planning organization, today said she intends to submit to the Federal Railroad Administration (FRA) multiple proposed passenger rail routes through Cleveland for inclusion in the Biden Administration’s multi-billion-dollar rail development program.
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Citing tremendous growth in the number of patients seeking health care, the Cleveland Clinic Foundation (CCF) today formally announced plans for $1.3 billion worth of facilities expansion worldwide. But most of the new construction is planned for its main campus near University Circle in Cleveland.
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This week, the Ohio Department of Development announced that it is opening round two of its new and popular Transformational Mixed Use Development (TMUD) tax credits program on May 18. Authorized for four years with up to $100 million in tax credits available each year, the deadline for submitting TMUD applications for Fiscal Year 2023 is 4 p.m. July 8.
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Two major development projects in Cleveland’s inner ring suburbs won thumbs up last night but in two different ways. In Lakewood, City Council gave its unanimous approval to the framework for an agreement with a Columbus-based real estate firm for a proposed $90 million development at the former downtown hospital site.
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Details of a $90 million proposed development of the city-owned Lakewood Hospital site were announced today by Lakewood Mayor Meghan George. The plan and the terms of the city’s draft agreement with a development team led by Columbus-based CASTO Communities now go to City Council for its review and possible approval.
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A Canadian luxury auto dealer hopes to consolidate its local dealerships, service center, Ohio offices and hundreds of jobs at a new $60 million development at Great Northern Mall in North Olmsted.
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Lakewood Mayor Meghan George’s office revealed today that an agreement for the redevelopment of the city’s ex-hospital site is being finalized and could be announced in April.
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Today, the five-member Ohio Tax Credit Authority board awarded $100 million in tax credits to Transformational Mixed Use Developments (TMUD) to 13 applicant projects throughout Ohio. Of the 42 projects statewide and nine from Greater Cleveland that were submitted for credits, four received a total of $53 million in funding.
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Eager to start construction, a Duck Island real estate developer applied for permits one day before it went before the City Planning Commission for final design review.
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In a recent presentation by the chief of the Cleveland Clinic, the public got a sneak peak of two of its major-new facilities in the background. The conceptual renderings offered the first-ever public glimpse of what the new Neurological Institute could look like.
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