NEOtrans business, development, real estate, construction and market trend news from Ohio
The director of the Northeast Ohio Areawide Coordinating Agency (NOACA), a metropolitan planning organization, today said she intends to submit to the Federal Railroad Administration (FRA) multiple proposed passenger rail routes through Cleveland for inclusion in the Biden Administration’s multi-billion-dollar rail development program.
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This week, the Ohio Department of Development announced that it is opening round two of its new and popular Transformational Mixed Use Development (TMUD) tax credits program on May 18. Authorized for four years with up to $100 million in tax credits available each year, the deadline for submitting TMUD applications for Fiscal Year 2023 is 4 p.m. July 8.
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A Canadian luxury auto dealer hopes to consolidate its local dealerships, service center, Ohio offices and hundreds of jobs at a new $60 million development at Great Northern Mall in North Olmsted.
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Yesterday, Cleveland’s City Planning Commission unanimously tabled a request by the Ohio Department of Transportation (ODOT) for consent to construct improvements to the Central Interchange, where Interstate 77 ends and connects with Interstate 90 in downtown Cleveland.
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Today, the five-member Ohio Tax Credit Authority board awarded $100 million in tax credits to Transformational Mixed Use Developments (TMUD) to 13 applicant projects throughout Ohio. Of the 42 projects statewide and nine from Greater Cleveland that were submitted for credits, four received a total of $53 million in funding.
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It’s going to be a little while longer before the developers of 42 projects, many of them megaprojects, across the state learn whether their project is going to win a golden ticket and get a big step closer to their own groundbreaking ceremony.
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If you thought 2021 was busy real estate-wise, there is every indication that 2022 is going to be even busier. How busy? Take a look….
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Agencies between Cleveland and Chicago have joined forces to request federal funds to identify how best to expand freight and passenger rail services on the busy Norfolk Southern (NS) Corp.-owned rail line that links those metro areas.
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In Greater Cleveland, there were nine TMUD applications for real estate development projects. Five are located in the city of Cleveland with one each in Shaker Heights, Lakewood, Elyria and Mentor.
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Growing enrollment at Cleveland State University may soon cause visible changes to downtown Cleveland’s landscape. According to two sources close to the university, CSU is in negotiations to acquire two large apartment properties that would allow it to more than double its inventory of on-campus student housing.
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