Last evening, a new Cleveland Housing Investment Fund (CHIF) was launched when Cleveland City Council passed legislation that requires the city to provide financing to the new fund. The city’s $18 million commitment leverages $20 million pledged by Cleveland-based KeyBank to boost the development of mixed-income rental housing and home ownership opportunities.
Read MoreCleveland launches affordable housing fund Read More »
While Northern Real Estate Urban Ventures, LLC (NREUV) is getting ready to break ground this week on its first Cleveland development, it’s already putting together the pieces for its next project here. The redevelopment of MLK Plaza, 9300 Wade Park Ave., in Cleveland’s Hough neighborhood would replace an aging, mixed-use complex with modern, low-income housing over ground-floor programming and common areas.
Read MoreHough MLK Plaza redevelopment advances Read More »
According to a public record located by NEOtrans, a groundbreaking ceremony is scheduled from 10 a.m. to 12 noon Sept. 5 for the redevelopment of a vacant 10-story apartment building at 9410 Hough Ave. in Cleveland’s resurgent Hough neighborhood. Kristi Halford, a spokesperson for the project’s development partners, confirmed the scheduled event in an e-mail to NEOtrans.
Read MoreHough groundbreaking set for Sept. 5 Read More »
In a long-planned redevelopment, the renovation of a vacant and vandalized 10-story apartment building at the east end of Cleveland’s Hough neighborhood finally has the green light to start work. That green light came today as $47 million in financing closed for the project and construction is due to start before the end of this month.
Read MoreHough renovation secures financing, start date Read More »
An historic apartment building set near one of the west side’s most important intersections is proposed to get a major renovation by its new owner. The Denison Manor Apartments, 3206 W. 100th St. in Cleveland’s West Boulevard neighborhood, could get its interiors completely rebuilt to offer larger, more marketable, subsidized apartments. But work reportedly began without securing the proper permits and the city ordered the work halted.
Read MoreCleveland’s Denison Manor may get rehabbed Read More »
While only one proposed affordable housing development in Cuyahoga County was awarded the coveted 9 percent Low Income Housing Tax Credits (LIHTC) from the state, four others in the county got conditional approval, putting them in a good position to get financing in the near future. All five developments, if built, would add 247 total units of affordable housing in the county.
Read MoreCleveland-area affordable housing wins financing Read More »
Two mixed-market-rate apartment developments that just opened along East 105th Street in Cleveland’s Fairfax neighborhood have phase-two projects proposed. But construction on the pair of follow-on projects may not occur for a year or more as lending remains tight and leasing activity has been uneven. But things could accelerate next year after interest rates fall and hiring starts for thousands of permanent jobs at several large Cleveland Clinic buildings under construction nearby.
Read MorePhase 2 awaits: Innovation Square, Fairfax Market Read More »
Conceptual plans for a new apartment building to be located just west of the West Boulevard rapid transit station in Cleveland’s Cudell neighborhood were submitted to the city this week. Called the Depot on Detroit, it’s the latest in a series of new apartment buildings planned, under construction or built recently near stations on Greater Cleveland Regional Transit Authority (GCRTA) rail and bus rapid transit lines. These transit-oriented developments are intended to address poverty by shrinking the spatial disconnect between jobs and job-seekers caused by urban sprawl.
Read MoreDepot on Detroit plans at RTA station unveiled Read More »
Sankofa Village will be adding its fourth, final phase in Cleveland’s Central neighborhood. An extra space just off West 48th getting more townhomes. One Midtown Luxury Townhomes seeks expansion. And Intro gains national beauty salon chain as tenant.
Read More
Long considered as the affordable and accessible place to live between downtown and University Circle, the Midtown neighborhood of Cleveland is starting to take off. Multiple development projects are under way or planned in this area, midway between two of Ohio’s largest employment hubs — the city’s central business district and its eds-and-meds hub. And a project that many consider to be the key to unlocking further development in Midtown is finally moving forward.
Read MoreMidtown developments accelerate Read More »
