Marous Brothers Construction is moving equipment onto the site today and are quickly beginning construction on Woodhill Center East, a $33.4 million development located at 11305 Woodland Ave. This phase of the Buckeye-Woodhill Transformation Plan will create 77 quality affordable apartments for families and help revitalize the Buckeye-Woodhill community, according to project backers.
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For anyone who has been watching real estate activity in recent years in Hough, they are probably no longer surprised that investment is growing here. But what may be surprising is that the pace of it continues to increase. And, with that, there’s growing interest by local and national investors to make sure that gentrification doesn’t take hold and push away people who need jobs within an easy walk, bike or bus ride of booming University Circle.
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An Indianapolis-based real estate developer is seeking to build affordable apartments just west of the Greater Cleveland Regional Transit Authority’s (GCRTA) West Boulevard-Cudell rapid transit station on land owned by the transit authority. Today, the GCRTA Board approved giving that developer, Flaherty & Collins LLC, an option to purchase the land for the development of 60 to 80 apartments. The option, priced at $5,000, gives the developer site control so it can nail down financing and city approvals over the next year. If the developer needs more time, RTA can extend the option for another year for another $5,000.
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When the Porta-Potties show up at a new construction site, you know it’s for real. In the 9500 block of Buckeye Road in Cleveland’s Buckeye-Woodhill neighborhood, the construction equipment showed up today, too. They’re there to be a part of building the $46.4 million Woodhill Station West development that will bring 120 apartments offering modern housing and on-site amenities mostly to residents of the aging Woodhill Homes public housing complex just north of here. However 30 of the apartments will be offered to anyone who meets income guidelines.
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Details of a $90 million proposed development of the city-owned Lakewood Hospital site were announced today by Lakewood Mayor Meghan George. The plan and the terms of the city’s draft agreement with a development team led by Columbus-based CASTO Communities now go to City Council for its review and possible approval.
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Financing could be secured this spring for the redevelopment of the northwest corner of Pearl and Memphis in the heart of Cleveland’s Old Brooklyn. But a casualty of the investment would be the 119-year-old St. Luke United Church of Christ.
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This is the Twenty-First edition of Seeds & Sprouts – Early intelligence on Cleveland-area real estate projects. Because these projects are very early in their process of development or just a long-range plan, a lot can and probably will change their final shape, use and outcome.
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A major project to redevelop a vacant and blighted 10-story building, as well as to construct a large community center on Hough Avenue on Cleveland’s East Side was revealed by a city official at today’s City Planning Commission meeting.
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