Greater Cleveland – Page 68

Why does Circle Square get love and nuCLEus doesn’t?

Ken Prendergast / September 23, 2020

Two births were noted in 2014. Ideas for a pair of major urban core real estate developments in Cleveland — nuCLEus and Circle Square — were set into motion, leading to much excitement and debate by everyone from urbanistas to media to fellow developers to elected officials.

Since those births six years ago, neither project has turned a shovel of dirt for new construction. Yet nuCLEus gets publicly criticized and doubted while Circle Square doesn’t. Is that fair? Let’s take a look at that….

Why does Circle Square get love and nuCLEus doesn’t? Read More »

Biotech firm Abeona to expand Cleveland production facilities

Ken Prendergast / September 18, 2020

A young, growing biotechnology company is expanding its presence again in Cleveland. Abeona Therapeutics LLC is adding to its production facilities by leasing and modifying 12,000 square feet at the MidTown Tech Park Building No. 1, 6700 Euclid Ave.

That brings the publicly traded company’s (Nasdaq: ABEO) Cleveland presence to 38,000 square feet. It currently has 65 employees in Cleveland — more than triple the employment the firm had here just three years ago. Abeona is a clinical stage company developing gene therapy and plasma-based therapies for severe and life-threatening rare genetic diseases.

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One-million-square-foot mixed-use project planned next to I-271

Ken Prendergast / September 12, 2020

Cleveland-area real estate developer Cannata Companies is making a major play at a 14.5-acre site next to Interstate 271 in Warrensville Heights. Envisioned is a 1-million-square-foot, $87-million mixed-use development called SilverPoint.

According to a SilverPoint presentation, the Dodge Reports and information from a preliminary massing graphic, the development could have structures potentially rising from four to 11 stories high for apartments, hotel, offices and ground-floor retail/restaurants.

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Bridgeworks project likely to retain historic Engineers buildings

Ken Prendergast / September 11, 2020

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.

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NRP Group abandons Scranton Peninsula project

2 Comments / Ken Prendergast / September 2, 2020

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,

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Seeds & Sprouts X – Early intel on real estate projects

1 Comment / Ken Prendergast / August 29, 2020

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

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Cleveland is rising higher on the waterfront

1 Comment / Ken Prendergast / August 27, 2020

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.

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Edgewater Hill project: signs of sudden growth

1 Comment / Ken Prendergast / August 22, 2020

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.

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LockKeepers, Marble Room, Il Venetian face uncertain futures

Ken Prendergast / August 20, 2020

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.

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A new housing crisis is hitting Cleveland, anonymously

Ken Prendergast / August 14, 2020

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?

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