NEOtrans business, development, real estate, construction and market trend news from the Greater Cleveland area
The end of the year is a good time to look back and take stock of everything that’s happened in the past 12 months. For a local journalism outlet like NEOtrans, that means taking a measure of what articles resonated with the community the most. This year-end top-10 list of our most-read articles is how we’re measuring what resonated.
Read MoreTop 10 NEOtrans news stories of 2022 Read More »
For several years, NEOtrans has been following the emergence, planning and development of major projects at the Cleveland Clinic Foundation’s Main Campus on the city’s East Side. In 2023, shovels will go into the ground for several of those projects which, in total, will rival the global health system’s last big building boom that occurred about 15 years ago. NEOtrans interviewed two Cleveland Clinic leaders to learn more about the Clinic’s $1.3 billion construction program.
Read MoreCleveland Clinic sees a busy 2023 Read More »
Ohio Gov. Mike DeWine today announced $88 million in state support for 123 brownfield remediation projects that will help clean up hazardous and underutilized sites throughout the state. The Ohio Department of Development is funding the awards through the Ohio Brownfield Remediation Program, which is designed to clean up and prepare hazardous brownfield sites for redevelopment. The projects announced today will impact communities in 35 counties across the state.
Read MoreBrownfield grants reveal progress on many projects Read More »
Several initiatives that are in their early stages may instigate passenger rail expansion to Cleveland before the state of Ohio decides to get on board. That could be welcome timing considering the Federal Railroad Administration will solicit applications next week for funding to begin the process for developing new and expanded passenger rail services.
Read MoreAmtrak Ohio expansion may bypass state government Read More »
In the first round of Ohio’s Transformational Mixed Use Development (TMUD) tax credit program, more than half of the major-city credits went to Cleveland. Today, more than half of those credits went to just two projects in Columbus. That left enough TMUD credits to benefit two projects in Cleveland — the Erieview redevelopment in downtown Cleveland and the Circle Square megaproject in University Circle. Unfortunately, that also meant that several other projects in Cleveland and Cuyahoga County were left out.
Read MoreFour NE Ohio projects win TMUD credits Read More »
Depositing of fill dirt, removal of a pedestrian bridge and plans for a combined restaurant, event center and boat launch are all in the works along Cleveland’s lakefront. And these activities are early, yet tangible indications of potential next steps for even larger changes along where the city meets its greatest natural asset.
Read MoreMaking waves on Cleveland’s lakefront Read More »
The reserve league of top-tier Major League Soccer is expected to announce on Monday that it will expand to Cleveland as the next city to gain a professional soccer team, according to sources who spoke off the record. The announcement will be made at 1 p.m. Nov. 21 at Pins Mechanical on West 25th Street in Ohio City by Michael Murphy. He is leading the effort locally to land the MLS NEXT Pro (MLSNP) team.
Read MoreCleveland to get MLS NEXT Pro team Read More »
Yesterday in Baltimore, Treasurer of the United States Chief Lynn Malerba awarded $5 billion worth of New Market Tax Credits (NMTC) nationwide, with $80 million of that to support real estate development projects Greater Cleveland. The projects are intended to be transformative by attracting private investment to create jobs in underserved communities.
Read More$80 million OK’d for Greater Cleveland development Read More »
One of North America’s next big migrations may already be underway. And according to early data, it appears that Cleveland and other Great Lakes cities are among those benefitting from it. What’s driving this new migration? The basics — low cost, proximity to family, abundant fresh water and peace of mind from not worrying about your neighborhood catching on fire or washing out to sea.
Read MoreCleveland benefits from national migration shift Read More »
This week, global real estate brokerage Newmark released its third quarter office market report for Greater Cleveland and the news wasn’t good, especially for downtown Cleveland. While three of five submarkets in the metropolitan area saw declining occupancies of office spaces in July-September, none suffered a greater loss than the central business district. That district includes everything from Ohio City east through Downtown to Midtown.
Read MoreDowntown Cleveland’s ‘office market needs help’ Read More »
