NEOtrans business, development, real estate, construction and market trend news from Ohio
Moving to Cleveland from ‘superstar’ cities has saved new arrivals an average of nearly $200,000 in the value of their housing, a new analysis shows. That’s one result of the Great Reshuffling that’s allowing people to get more bang for their buck by working remotely in amenity-laden cities like Cleveland.
Read MoreCleveland tops in U.S. for best home-buying power Read More Âğ
On May 10, at a building at the southeast corner of West 25th Street and the Detroit-Superior Bridge, crews paint over graffiti including obscenities directed at the property owner Bobby George. With the clock ticking down on sale negotiations with the city, George has submitted a development plan for the site
Read MoreGeorge files development plan for Irishtown Bend land Read More Âğ
By 2024, Cleveland’s four tallest buildings will surround Public Square. One of those will be the roughly 600-foot-tall Sherwin-Williams headquarters.
Read MoreSherwin-Williams’ HQ tower’s height edges upward Read More Âğ
After nearly five months since Senate Bill 39 was signed into law by Gov. Mike DeWine, the so-called megaprojects tax credit it authorized still isn’t a functioning program. Worse, it won’t be functioning before the end of the state’s current fiscal year ending June 30, a state official confirmed today.
Read MoreMegaproject program delays may curb $2 billion in development Read More Âğ
A growing employer is seeking to move from the suburbs to downtown Cleveland and has less than a year to do it. CBIZ, Inc., founded in 1987, has grown to 4,800 employees in more than 100 offices nationwide with more than 200 of them at their headquarters in 6050 Oak Tree Blvd. in Independence.
Read MoreCBIZ is latest biz seeking suburb-to-downtown move Read More Âğ
The Greater Cleveland Regional Transit Authority (GCRTA) has issued a request for proposals (RFP) for the replacement of its four-decade-old rail fleet with a standardized type of train. The first new trains could arrive in Cleveland by early 2024.
Read MoreGreater Cleveland RTA requests proposals for new trains Read More Âğ
In the coming decade, the state bird of Ohio may well be the construction crane.
That’s especially true in Ohio’s six largest metropolitan areas where more than two-thirds of Ohioans live. That’s because Ohio cities of more than 100,000 population, and places within 10 miles of them, will be the sites of megaprojects receiving anywhere from $240 million to $320 million in Transformational Mixed Use Development (TMUD) tax credits in the next few years.
Read MoreMegaproject tax credit signed into law Read More Âğ
Ohio Senate voted 28-2 to concur with the Ohio House of Representatives’ changes to Sub. SB39, the Transformational Mixed-Use Developments tax credit. The bill has been forwarded to Gov. Mike DeWine for his signature to become law.
Read MoreOhio lawmakers pass skyline-altering bill Read More Âğ
Think of the benefits Clevelanders could see by morphing GCRTAs low-ridership light-rail Waterfront Line from dead-ending in a windswept, out-of-the-way parking lot into a fully functional and convenient Downtown Loop that serves more of downtown Cleveland most important destinations.
Read MoreAll Aboard Ohio asks Cleveland RTA for Waterfront Line Phase II study Read More Âğ
After this Thanksgiving holiday week, state lawmakers say there’s a pretty good chance that the Ohio General Assembly will finally pass the long-sought Transformational Mixed Use Development (TMUD) tax credit. And there’s potentially dozens of so-called megaprojects that the TMUD credit could activate or take already active projects and push them across the finish line.
Read More30 Cleveland-area megaprojects that may benefit from a TMUD tax credit Read More Âğ
