Greater Cleveland

NEOtrans business, development, real estate, construction and market trend news from the Greater Cleveland area

Bedrock Riverfront Wins Greater Cleveland’s only TMUD

It seems $100 million doesn’t go as far as it used to. At least it didn’t today when the Ohio Tax Credit Authority awarded $100 million in Transformational Mixed Use Development (TMUD) tax credits to just nine projects statewide. Northeast Ohio won two — Greater Cleveland got just one of those. And that was the last of four rounds of TMUDs authorized by the Ohio General Assembly unless some previous awards aren’t used and are made available.

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At best, federal funds for major projects on hold

Millions, if not hundreds of millions of federal tax dollars awarded to local infrastructure and energy projects may be at risk from a 90-day funding freeze and review mandated earlier this week by the new Trump Administration. That possibility was raised today at the first board meeting of the year for Greater Cleveland’s metropolitan planning organization (MPO) which distributes federal funds to transportation and air quality programs.

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Catanese Seafood to sail from Flats to Collinwood

A familiar face in Cleveland’s Flats district is packing up and heading to the city’s east side to make way for the Cleveland Metroparks’ expanding makeover of the Cuyahoga River waterfront. Catanese Classic Seafood, 1600 Merwin Ave., is making a move in the coming year to the Greater Cleveland Food Bank’s facility at 15500 S. Waterloo Rd.

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2025’s return to the office? It started in 2024

Although a variety of four-letter words have frequently been used to describe the office market since the pandemic, there’s a new one being uttered lately — “hope.” That word made its appearance in the latest Cleveland office market report by Newmark, one of the industry’s most respected collectors and analysts of real estate inventory market data.

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Moen moving its HQ to Chicagoland

Faucet and fixture maker Moen Inc. is relocating is corporate headquarters from the western Cleveland suburb of North Olmsted to the northern Chicago suburb of Deerfield, IL by the summer of 2026, according to a press release and affected employees. It is not known how many of Moen’s 600-plus HQ employees are making the move but it appears that a significant number of them will.

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CSX makes CVSR downtown extension infeasible

Except for one brief instruction, property-owning freight railroad CSX Transportation didn’t participate in a feasibility study for extending the Cuyahoga Valley Scenic Railroad’s (CVSR) passenger trains into Downtown Cleveland. But that instruction, described as “a gold-plated” request, forced the study team to conclude that the CVSR extension would not be feasible — for now.

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