Greater Cleveland – Page 71

Dream Hotel development delayed more than a year

1 Comment / Ken Prendergast / September 30, 2020

Given the current state of the pandemic-ravaged hospitality industry, it probably shouldn’t come as a surprise that the proposed 19-story Dream Hotel next to the Masonic Temple in Cleveland’s Midtown has been delayed.

According to the construction database The Dodge Reports, the delay will be more than one year. The site reported that design work on the hotel will be on hold until Summer 2021. That means the earliest construction could start would be Summer 2022, it said. Last spring, officials at New York-based Dream Hotels hoped to start construction in early 2021.

Dream Hotel development delayed more than a year Read More »

Seeds & Sprouts XI – Early intel on real estate projects

Ken Prendergast / September 29, 2020

This is the Eleventh 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.

Seeds & Sprouts XI – Early intel on real estate projects Read More »

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.

Biotech firm Abeona to expand Cleveland production facilities Read More »

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.

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

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.

Bridgeworks project likely to retain historic Engineers buildings Read More »

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,

NRP Group abandons Scranton Peninsula project Read More »

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

Seeds & Sprouts X – Early intel on real estate projects Read More »

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.

Cleveland is rising higher on the waterfront Read More »

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.

Edgewater Hill project: signs of sudden growth Read More »