News by location – Page 98

Lack of city hall tech risks making construction sector sick

Ken Prendergast / April 3, 2020

On March 24, the Greater Cleveland Regional Transit Authority’s (GCRTA) Board of Trustees did two things it had never done before.
One, GCRTA’s board voted to help form and partially own a unique public-private corporation to acquire and oversee development of its Ohio City Red Line station-area property in partnership with Carnegie Management and Development Corp.

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Calming traffic at RTA station key to developing area

1 Comment / Ken Prendergast / April 1, 2020

The revitalization of Cleveland’s Detroit-Shoreway neighborhood continues to spread west. To the north, Edgewater Park and its healthy namesake neighborhood have improved in recent years. And to the west, Lakewood has seen Greater Cleveland’s fastest-growing real estate prices along with new housing development.

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Amazon to add hundreds of jobs on Cleveland’s West Side

Ken Prendergast / March 27, 2020

UPDATED MARCH 29, 2020

Three sources confirm that e-commerce giant Amazon has agreed to occupy a large new warehouse on Cleveland’s West Side and ultimately build out the rest of the site with more distribution facilities. The sources spoke off the record because they weren’t authorized to speak publicly about the deal.

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Sale of Midtown development site on Euclid OK’d by GCRTA

Ken Prendergast / March 24, 2020

Historically, the area around Penn Square/East 55th Street was one of two “mini-downtowns” along Euclid Avenue east of the city’s central business district. Doans Corners/East 105th Street was the other, dubbed Cleveland’s Other Downtown.

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Ohio City Transit Oriented Development arrives the next station

Ken Prendergast / March 24, 2020

A significant real estate development next to and possibly above the rail rapid transit line in Cleveland’s Ohio City neighborhood moved a step closer to reality today. That occurred when the Greater Cleveland Regional Transit Authority’s (GCRTA) Board of Trustees authorized staff to execute a development and use agreement with Carnegie Management and Development Corp. of Westlake.

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Financing set, work starts at Ohio City’s Intro

Ken Prendergast / March 24, 2020

UPDATED MARCH 24, 2020

Overnight work began late Monday (March 23) on expanding utilities in the vicinity of a planned mixed-use development that will further enliven one of Cleveland’s most recognizable intersections.

The development is Harbor Bay Real Estate Advisors LLC’s Market Square and the intersection is Lorain Avenue at West 25th Street onto which the iconic tower of West Side Market casts its shadow. The first phase of Market Square is Intro — a nine-story building with 290 market-rate apartments over 36,000 square feet of retail and 550 underground parking spaces. Note that these renderings show only seven stories.

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Baker Building may become boutique hotel — eventually

Ken Prendergast / March 21, 2020

The 11-story Baker Building at 1900 E. 6th St. in downtown Cleveland enjoys a brighter future now that it’s in the hands of a deep-pocketed firm. But that future may not be imminent. And the delay has nothing to do with the global pandemic, according to a source familiar with the project.

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Big Duck Island development moves forward

Ken Prendergast / March 18, 2020

A site in Cleveland’s Duck Island enclave that has been considered for development for seven years, is back in play again under the stewardship of a real estate firm from Chicago’s suburbs.

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nuCLEus and Centennial projects may start this summer

Ken Prendergast / March 17, 2020

Two major development projects in downtown Cleveland could get underway this summer. And we’re not just talking about the 23-story City Club Apartments, the 75 Public Square renovation NEOtrans reported on last November, or the site preparations for Sherwin-Williams’ new headquarters tower on Public Square.

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How the Coronavirus is affecting construction in Cleveland

Ken Prendergast / March 13, 2020

UPDATED MARCH 16, 2020

As successful investor Warren Buffet says, “Be greedy when others are fearful.”

So are Greater Cleveland’s real estate developers fearful or greedy as Ohio and the country goes into Coronavirus emergency? And what might be the long-term implications of the pandemic on pending real estate developments?

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