Greater Cleveland – Page 47

Cleveland is rising up in the O-Zone

Ken Prendergast / April 30, 2019

Last week I sat in a small conference room with nearly a dozen real estate developers and investors planning a cool new project in Cleveland’s urban core. I was there to add my two cents on a transportation access component of that project. Seated in the corner of the room was another guy, representing a lending institution that provides equity from one of the many fast-growing Opportunity Zone Funds.

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New county jails proposed as UC-area high-rises!

1 Comment / Ken Prendergast / April 1, 2019

Instead of seeking to develop high-rise, quality, affordable housing near rapid transit stations along the Opportunity Corridor, community development corporations are vying for Cuyahoga County’s proposed consolidated jail facility.

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USL Cleveland soccer stadium site chosen

Ken Prendergast / March 30, 2019

For 30 years, a forlorn spit of land south of the Inner Belt highway in downtown Cleveland has been eyeballed by different people for different types of sports stadiums.
Now, the latest and perhaps most realistic stadium effort has reportedly targeted land owned by the ODOT for a 5,000-plus-seat United Soccer League venue. That’s according to two sources, one a major local developer and the other a Cleveland building and construction trades representative.

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Gordon Park area — Cleveland’s next housing boom site?

Ken Prendergast / February 15, 2019

Recent real estate projects show the strength of the housing market in Cleveland, especially in certain neighborhoods accessible to downtown and the lake. New projects are taking at a stab at an undeveloped area for housing — East 55th Street and the Shoreway, just west of Gordon Park.

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Cleveland’s profile soars among out-of-state investors

1 Comment / Ken Prendergast / November 19, 2018

Presidential candidate Ross Perot in 1992 famously referred to a “huge sucking sound” when it came to jobs leaving the USA. When money starts pouring into a city like Cleveland, it ought to make a sound, too. It is, and people are noticing.

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Cleveland’s economy is kicking butt

2 Comments / Ken Prendergast / October 20, 2018

In case you’ve missed it, and judging by the lack of coverage in local mainstream media you have, but Greater Cleveland’s economy has managed to win some serious momentum in recent months.
September jobs data from the Bureau of Labor Statistics just came in this past week (see chart below). It showed that Greater Cleveland’s employment grew by 2.7 percent compared to September 2017 year-over-year (YOY). That would have been an increase over August’s robust 2.5 percent increase YOY, except that August’s preliminary data was adjusted upward to 2.7 percent in this latest report.

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Cleveland: Nearly 40 towers planned

8 Comments / Ken Prendergast / September 28, 2018

A remarkable building boom is under way in Greater Cleveland. Because of a strong economic recovery that’s been picking up momentum here over the past five years, there are more large building projects in the metro area now than at any time in perhaps the past 50 years.

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Cleveland’s growing home sales AND homelessness

1 Comment / Ken Prendergast / August 8, 2018

There is an incredible story playing out among the spreadsheets and city streets in the Cleveland. On the data side, real estate market observers are watching a remarkable rise in the number of housing sales and prices in the City of Cleveland. At the same time, social service organizations and agencies are witnessing a sad downside — worsening homelessness — that needs to be addressed very soon, preferably before another cold winter sets in.

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Leveraging the Boomtown

Ken Prendergast / August 3, 2018

Cleveland’s East Side, with one big exception, is a mess. It’s got some of the worst urban poverty in the United States and is the reason for Cleveland’s #2 ranking among America’s biggest cities in terms of percentage of residents living in poverty. Only Detroit outranks Cleveland in that regard.

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Cleveland’s core entering new-construction mode

2 Comments / Ken Prendergast / June 1, 2018

The latest report from the Downtown Cleveland Alliance (DCA) on the progress of downtown had an especially interesting data set in it. That report, for the First Quarter of 2018, showed that the last of downtown’s obsolete commercial buildings (offices, warehouse, department store, etc.) being converted to residential (along with several new construction projects) will put the population of downtown Cleveland at about 20,000 people by 2020.

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