NEOtrans business, development, real estate, construction and market trend news from the Greater Cleveland area
Developers of a proposed mixed-use real estate project at West 25th Street and Detroit Avenue are taking actions that show they are increasingly likely to preserve the three existing historic buildings on the site. But it isn’t yet certain how the buildings will be repurposed.
Read MoreBridgeworks project likely to retain historic Engineers buildings Read More »
A worldwide economic downturn and a shift in market approach have forced the NRP Group to abandon its plans to develop a 330-unit apartment-townhouse complex on Scranton Peninsula, across the Cuyahoga River from downtown Cleveland.
Among major cities, Greater Cleveland has suffered more pandemic-related job losses than all but three other cities — New York, Las Vegas and Boston. And NRP Group has been shifting its focus from developing market-rate housing to affordable and workforce housing,
Read MoreNRP Group abandons Scranton Peninsula project Read More »
This is the Tenth 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. Conceptual plans for the new Walz Branch of the
Read MoreSeeds & Sprouts X – Early intel on real estate projects Read More »
Coastal cities have one thing in common — a tendency to build more high-rise buildings along their waterfronts. In real estate, where location is all-important, few things attract investment more than an accessible waterfront. That’s true for shorelines on oceans, Great Lakes and major rivers.
Read MoreCleveland is rising higher on the waterfront Read More »
UPDATED AUG. 24 WITH COMMENTS BY WAYNE JATSEK
For those watching the City Planning Commission’s virtual meeting yesterday, two examples of sudden growth were apparent. Both centered around a new apartment building project in the Edgewater Hill section of Cleveland’s Detroit-Shoreway neighborhood.
Read MoreEdgewater Hill project: signs of sudden growth Read More »
Six of Greater Cleveland’s swankiest establishments that share the same owner have not reopened from the Coronavirus shutdown. Several sources with direct knowledge of the businesses’ operations and finances said they doubted all of the establishments would reopen under their current ownership.
Read MoreLockKeepers, Marble Room, Il Venetian face uncertain futures Read More »
At first blush, it sounded like such a rosy story.
The headline in the June 8 Wall Street Journal read “Cleveland Is a House-Flipping Hot Spot, and Covid Adds Fuel.” Its central theme was that Greater Cleveland has become one of the most profitable places in the country to flip houses and own rentals. Investors have been redirecting their dollars from pricey coastal real estate markets and investing them in Cleveland. A happy story, right?
Read MoreA new housing crisis is hitting Cleveland, anonymously Read More »
While the steering committee is away, the consultants will play. But the consultants are getting ready to give a report on their findings about a new Justice Center. And what they have to say will bring into sharper focus the realistic sites for a new downtown courthouse as well as a new jail.
Read MoreCleveland’s next ‘whale’ may eat more land than first thought Read More »
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.
Read MoreSeeds & Sprouts IX – Early intel on real estate projects Read More »
All signals are green for construction of a moderately-sized apartment building across the street from the Buckeye-Woodhill light-rail transit station in Cleveland.
With financing in place, general contractor bids are due to be submitted to developer The Community Builders on Aug. 12, according to the Dodge Reports. Site preparation work could start in November but major construction activity is likely to get under way in the spring.
Woodhill Station transit-oriented development on track Read More »
