Trending development, economic & real estate news

Bedrock riverfront phase 1 uses ID’d

Plans for Bedrock Real Estate’s riverfront development alongside Tower City Center in downtown Cleveland are rapidly coming together after recent city approvals of its development masterplan. Those plans, albeit still at a conceptual stage, provide insights into Bedrock’s desires and thinking about what land uses it wants to…
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New company amassing Cleveland properties

A deep-pocketed company that’s less than two years old and based in suburban Westlake has been busily acquiring residential properties in Cleveland, primarily on the city’s West Side. And last week, the company, Sanctus Capital LLC, made its biggest purchase yet — a 5-acre parcel at 3400 Vega…
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Playhouse Square announces new projects

First reported by NEOtrans more than two months ago, the Playhouse Square Foundation announced officially today that it will begin work in June on converting half of the Bulkley Building, 1501 Euclid Ave., in downtown Cleveland into market-rate apartments. Additionally, the nonprofit community development organization also said it…
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Getting Tower City on track

When you have an opportunity to expend the same or similar effort and money that would achieve the better of two outcomes, why not pursue the better outcome? That’s the decision Greater Cleveland has yet to make when looking at a transportation ingredient to two major waterfront development…
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Voss factory conversion comes into focus

Legislation was introduced this week by several Cleveland City Council members to help finance the conversion of the abandoned Voss Industries plant, 2168 W. 25th St., in Cleveland’s Ohio City neighborhood into a mixed-use complex. The projected price tag to carry out the redo is at least $62…
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Downtown project wins financing

With financing now in hand, look for demolition and construction work to start this summer for the Residences at Bolivar, 1060-1124 Bolivar Rd., in downtown Cleveland’s Gateway neighborhood. The work was made possible by Chicago-based JLL Capital Markets arranging $38.5 million in construction financing and co-general partner equity…
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