Greater Cleveland

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

Park Place Tech to buy Progressive’s Alpha campus

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Fast-growing Park Place Technologies, with nearly 500 employees in Greater Cleveland, has found a new, larger home after an extensive search that included expanding into a neighboring building or moving to downtown Cleveland. In fact, the property ultimately favored by the global data center and networking optimization firm matched the company’s requirements almost exactly. However, a title has yet to transfer to Park Place Technologies or any affiliates.

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Canon, Cleveland Clinic form partnership

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Global imaging giant Canon Inc. and the locally based yet global Cleveland Clinic Foundation today announced their intentions to form a strategic research partnership to develop imaging and healthcare information technologies to improve patient diagnosis, care and outcomes. The announcement, initiated by Canon, publicly reveals the first tangible development in nearly a year since the company said it had created a U.S. healthcare subsidiary Canon Healthcare USA Inc. and would locate its headquarters in Greater Cleveland.

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Next round of Brownfield grants starts Dec. 5

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Several things have long slowed Cleveland’s post-industrial transition to embrace new economic drivers. One of the biggest is the lack of large, clean properties near existing labor. The city recently announced a $50 million land assembly program that could be boosted to $100 million with other funding. While some of that funding could come from the private sector, another source may well come from a new round of state funding to aid redevelopment, announced today.

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Greyhound, Barons may offer downtown, west-side stops

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With the clock ticking down to an eventual departure from the 75-year-old Greyhound station in Downtown Cleveland, the operator of long-distance bus services is seeking new stations to serve area travelers. After an earlier plan to relocate Cleveland’s station to the Triskett Red Line rapid transit station on the west side met civic resistance, Barons Bus Inc. is pursuing two stations locally. Cleveland-based Barons operates bus service under a license with Greyhound.

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Nela Park may add residential

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Many Greater Clevelanders have at least some familiarity with a place that could soon become home to many Greater Clevelanders. The owner of the former General Electric Lighting headquarters, 1975 Noble Rd. in East Cleveland, is preparing plans to convert several office buildings within the 94-acre Nela Park Campus into apartments and make those intentions known at a meeting of local stakeholders, possibly as early as this month, according to a source familiar with the project.

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Cleveland, Maple Hts projects add hundreds of jobs

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Tennessee-based laboratory services company LabConnect and local fermented foods producer Cleveland Kitchen Co. were approved this week for a combined $1.1 million in state job creation tax credits for up to 250 new jobs at facilities in Cleveland. Meanwhile, a growing Vendors Exchange International, LLC plans to move its offices and manufacturing facilities from a western suburb to Maple Heights where it will expand to more than 70 jobs, thanks to financial support from Maple Heights.

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County Courthouse project gets seven proposals

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While the specific proposals for a new or renovated Cuyahoga County courthouse haven’t been publicly released yet by the county, a list of who submitted the proposals was provided to NEOtrans as a result of a public records request. And the list of seven respondents provides some insight as to who has presented what for the county’s nearly 900,000-square-foot courthouse facility that could cost $400 million to $700 million to build or renovate.

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Local projects may benefit from federal incentives

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Having too much office space, not enough housing inventory and tight private financing to address those conditions isn’t just a Greater Cleveland phenomenon. It’s a nationwide problem. So the federal government on Friday announced incentives to encourage the conversion of high-vacancy commercial buildings to residential use and develop surplus land owned by transit agencies.

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North Coast development authority launched

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With updated plans for redeveloping downtown Cleveland’s lakefront steadily rolling in like Lake Erie’s waves, the nonprofit development corporation charged with funding and implementing those plans also is coming together. Today, Cleveland Mayor Justin Bibb announced the initial board of directors for the new North Coast Waterfront Development Corp. (NCWDC) and its chair, David Gilbert, CEO of Destination Cleveland and the Greater Cleveland Sports Commission.

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Old Aquarium razed for South Gordon Park plan

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After sitting empty and rotting away for nearly four decades, the old Cleveland Aquarium at South Gordon Park was finally demolished yesterday by contractors for the Cleveland Metroparks. The regional park system, whose long-term lease of this city-owned site took effect earlier this month, wasted no time in taking down the long-closed aquarium building. In the coming months, Metroparks officials said they intend to seek community input on how to improve South Gordon Park.

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