Trending development, economic & real estate news
Bedrock starts Downtown Riverfront phase one
Construction permit applications were filed this week with the city of Cleveland’s Building Department so contractors can start digging and installing foundations for the first phase of Bedrock’s Downtown Riverfront development. That first phase is the Cleveland Clinic/Cleveland Cavaliers Global Peak Performance Center, touted as one of the…
Last round of megaproject tax credits opens
Developers looking to transform their Ohio communities can now apply for funding opportunities through the Ohio Department of Development’s Transformational Mixed-Use Development (TMUD) program that awards up to $100 million in tax credits per round.
The Arch at St. Michael gets underway
Renovation work for The Arch at St. Michael is a day old. The funding program to pay for the renovations is 50 years old. And the Gothic Revival beauty located in Cleveland’s South Tremont neighborhood that will gain new life from the work is 118 years old. Combined,…
Stella Maris buys Flats site to expand
After nearly eight years on the market, a small parcel at 2208-2210 Superior Viaduct at the west edge of Cleveland’s Flats District has sold to a growing stakeholder in the neighborhood. Addiction treatment center Stella Maris Inc. acquired the property and proposes to renovate an existing building on…
Market District Lofts in Ohio City to expand
On most other plots of land, adding 17 homes to it would be noticeable from the street. But if a proposed expansion of the Market District Lofts in Cleveland’s Ohio City neighborhood happens, it might be the most below-the-radar residential development in the urban core since The Residences…
Downtown property owner penalized for tax credit ‘double-dipping’
A U.S. Tax Court judge in Washington D.C. has agreed with the Internal Revenue Service (IRS) in disallowing a $22.6 million tax deduction claimed by Corning Place Ohio, LLC for not building a 34-story vertical addition on top of its 19th-century Garfield Building, 1965 E. 6th St., in…
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