Trending development, economic & real estate news

Progressive’s office spaces to be slashed

All Progressive Insurance employees received a notice this morning announcing that, due to remote working, the company would be slashing the square footage of active office spaces and attempt to sell or lease those it will no longer occupy. As a result, about 850 employees who continue to…
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New CSU arena in play by year’s end

By the end of this year, Cleveland State University (CSU) officials and their project consultants said they hope to select a development team, financing plan and a proposal for a new multi-purpose, indoor arena on Payne Avenue just east of downtown Cleveland. The arena would serve the athletic…
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County issues RFP on 800K SF courthouse

Two months from tomorrow, Cuyahoga County officials hope to get some ideas and cost estimates from private-sector development groups on whether to rebuild and expand the existing, 47-year-old courthouse tower at the Justice Center or build a new one. A new courthouse, which could be built next to…
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Reynolds enters Midwest market with local buy

In a move that expands its portfolio westward into a new market, East Coast-based Reynolds Asset Management, with financing provided in partnership with Northwest Bank, announced it has closed on the acquisition of a 125-unit multifamily apartment complex in the Greater Cleveland area. It is Reynolds’ first real…
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City considers re-legalizing the city again

The city of Cleveland’s Board of Zoning Appeals’ docket regularly sees cases like this. On Monday, Sally Banks LLC will ask the board to allow it add a 1,100-square-foot addition to its popular Treehouse pub, 820 College Ave. in Tremont, without adding off-street parking spaces. It’s the second…
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TMUD round 3 starts next week

The desire for new-build projects in downtown Cleveland led to the creation of the state’s Transformational Mixed Use Development (TMUD) tax credit program nearly three years ago. But in the first two years of the four-year TMUD program, no developers of new-construction downtown projects have submitted applications. As…
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Browns Stadium talks tackled for no gain Downtown Lakefront projects flow West 117th’s fast-food makeover A dozen high-rises in the works downtown