Trending development, economic & real estate news
Renovations fuel prospect of downtown revitalization
As Downtown Cleveland faces a wave of foreclosures and a slowdown in ground-up developments, a collection of major renovation projects are quietly renewing hope for the future of the central business district.
Red Chimney restaurant to be razed
If the beloved Red Chimney Restaurant was a luxury establishment in a vibrant, thriving neighborhood, the economics might favor its rebuilding following an Aug. 5, 2025 fire that was confined to a second-floor apartment at the back of the building where the blaze began.
Clinic’s trauma center plan gets $50M
Cleveland Clinic’s Community Bridge to Care Initiative announced receiving a $50 million grant today from the Jack, Joseph and Morton Mandel Supporting Foundation. That grant will, among other things, help the health care system expand its Emergency Department and possibly gain a Level I trauma rating at its…
Restoring density to Euclid Ave.
A clearer picture is emerging of Silver Hills’ proposed mixed-use development at 8014 Euclid Ave. in Cleveland’s Fairfax neighborhood after a project description was recently submitted to the city. NEOtrans broke the news of Silver Hills’ latest Cleveland development more than two weeks ago.
Commercial foreclosure business is booming
When a company expands in an already busy market, the inference is that the company expects the market to get even busier. Unfortunately, that may be the case with the commercial property market where foreclosures keep coming and more receivers are getting appointed by courts to hire real…
The 50+ acres in play next to downtown, but few are talking about it
Mega-redevelopment sites are emerging all around Downtown Cleveland. There’s the 50-acre lakefront site that includes the to-be-demolished Huntington Bank Field. There’s the nearly 40-acre Bedrock Riverfront site. There’s the 62-acre ex-Lake Shore Power Plant site just east of downtown. And there’s the 450-acre site that now contains Burke…
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