NEOtrans business, development, real estate, construction and market trend news from Ohio
In a request for qualifications (RFQ) issued by the city of Cleveland last week for the development of lakefront land, all but 22 acres of it has a city masterplan established for it. That 22-acre exception is the site occupied by Huntington Bank Field which the city is offering up as a blank slate for those with ideas and other wherewithal.
Read MoreSoccer interests reject lakefront stadium Read More »
In recent weeks, five major residential developments on Cleveland’s East Side are seeing substantial progress that could propel them to construction by the end of the year. And, 12-18 months thereafter, 537 new apartments, many of them with below-market rents, could be ready for residents to move in.
Read More537 apartments for Cleveland’s East Side get boost Read More »
When sifting through the many development incentives in the state’s newly passed two-year budget, it becomes clear that a lot of Cleveland urban core projects are going to be eligible for them and potentially benefit from them. But, as we saw from a state program to aid megaprojects, a program will only benefit a region if there are projects and their sponsors in that region who will apply for them.
Read MoreCleveland developments to benefit from HB96 Read More »
This could be a battle to watch in the coming years — a battle of the billionaires and their venues for Northeast Ohio’s entertainment dollars. And in the latest round, the win goes to Dan Gilbert, David Blitzer and Downtown Cleveland for securing the fifth US location of Cosm, an immersive technology sports and entertainment attraction. But it almost went to suburban Brook Park.
Read MoreCosm was planned for Haslam’s Brook Park site Read More »
There are winners and there are losers in the Haslam Sports Group’s effort to build a new, enclosed stadium in suburban Brook Park. But it is worth noting that all of the winners have lost something just as all of the losers have won something. And there are variables to this equation that will remain unknown until the future and those who choose to shape it reveal them.
Read MoreWinners, losers from the Browns’ new stadium Read More »
In the coming weeks, major improvements will be made to the Port of Cleveland’s largest warehouse, a terminal warehouse that’s so large it equals the size of two ships. Plans for those improvements were submitted yesterday to the city in an application for a building permit to get started on the work as soon as possible.
Read MorePort to start $25M rehab of huge warehouse Read More »
Although the deed transfer was signed June 24, the document transferring 179 acres of land to an affiliate of the Haslam Sports Group for a new stadium in Brook Park didn’t become public until today. Nonetheless, this is the deal that helps set the stage for the construction of a new $3.6 billion enclosed stadium and proposed supportive development for the new home of the Cleveland Browns.
Read MoreHaslams acquire Brook Park land for stadium Read More »
Northeast Ohio did well in the latest round of Ohio Historic Preservation Tax Credit Program awards, garnering nearly half of all awards in terms of dollar amount and total number of projects aided today. By contrast, only one project in fast-growing Central Ohio was awarded historic tax credits by the Ohio Department of Development.
Read MoreFenn Tower leads historic tax credit winners Read More »
Frank Sinito Sr., founder of Millennia Companies, has stepped away from managing the day-to-day business of one of the nation’s largest owners and managers of affordable housing properties. In announcing this and other leadership changes, the company said it will be selling off parts of its affordable housing portfolio and expanding investments into market-rate housing.
Read MoreSinito walks away from running Millennia Read More »
Fifteen of Ohio’s professional sports teams from among the major and minor leagues joined together in sending a letter to state leadership, expressing support for Gov. Mike DeWine’s proposed process to allocate funding for sports facility projects through House Bill 96 and the Ohio Unclaimed Funds proposal. But, noticeably absent were the two teams with the largest stadium funding requests.
Read MoreOhio teams support DeWine’s stadium funding plan Read More »
