apartments

Guardians to expand real estate holdings

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The Cleveland Guardians Major League Baseball (MLB) team is exercising an option on acquiring the second of two properties that were offered to it when the team extended its lease on Jan. 1, 2022 to play at Progressive Field for at least another 15 years, a city source said. The property it will acquire this time is the huge Gateway East Garage, 650 Huron Rd. East in downtown Cleveland for $25 million and could set the stage for a full or partial demolition of the 29-year-old garage for a “ballpark village” redevelopment.

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Latest TMUD wish list is NEO-light

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One of the favorite past-times among some Northeast Ohioans is to complain that too much of their state tax dollars are going to the rest of the state and not enough to Northeast Ohio. But if you don’t ask for anything, you don’t get it. That’s the case when it comes to the latest round of Transformational Mixed Use Development (TMUD) tax credits. Northeast Ohio TMUD applications represent only 10.8 percent of the total dollar amount requested statewide for Ohio’s fiscal year 2024 round and only one downtown Cleveland project was submitted. Ironically, the TMUD program was the brainchild of a Cleveland developer to encourage more downtown Cleveland projects.

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Ohio City’s next big apartment project

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One of Ohio City’s largest development sites is located in this Cleveland neighborhood’s booming Hingetown section. So it was only a matter of time before a large development was proposed for that site at 2828 Clinton Ave., measuring nearly 2 acres. That time is coming next week when the Franklin-Clinton Block Club which includes Hingetown will get a presentation of preliminary plans for the development and offer input on it to the city’s design-review and landmark commissions.

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Downtown Lakewood project going through phases

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Over the next 60-90 days, the city and its development team will explore the feasibility of breaking up into more achievable pieces or phases the ambitious, $100-million-plus-dollar vision to redevelop the former Lakewood Hospital site in Downtown Lakewood. But city officials and the development team they chose said the basic, long-term vision for the site will remain largely unchanged from what city review boards have approved thus far.

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West Park area developments emerge

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While big developments in and near Downtown and University Circle continue to be announced, a lot is going on in other Cleveland neighborhoods, too. Among those seeing activity are the West Park and Bellaire-Puritas neighborhoods, with new market-rate housing, jobs and educational projects planned. All three investments are critical to keeping Cleveland’s westernmost neighborhoods fresh and vibrant, said their City Councilman Charles Slife, of Ward 17.

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Breakwater Lofts opens this weekend

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A decade ago, the opening of the Breakwater Lofts apartment building on a vacant lot at 1270 W. 58th St. in Cleveland’s Gordon Square neighborhood would’ve been a much bigger story. Instead, today, it’s the latest of many new developments in the surrounding area that has more big projects in the works. It’s a sign of stabilization and maturation of the residential market in this near-west side neighborhood, just off the lake, that continues to host traditional Cleveland haunts like the Parkview Nite Club across the street.

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Browns: clock ticking on stadium deal

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Two sources, one a city of Cleveland source and the other a Cleveland Browns source, acknowledge that the clock is ticking down to a deadline that the Browns source termed as “a matter of months, certainly less than a year” for working out a deal that will keep the Browns in the city rather than turning to the suburbs for a new football stadium location. And they both acknowledge the city is offering no direct financial assistance to make major renovations to the city-owned stadium

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NEOtrans partners with Cleveland Magazine

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You’ve probably noticed this Cleveland Magazine logo and tag atop our articles in the past week. You’ll be seeing more of them. NEOtrans is excited to announce a new partnership with Cleveland Magazine, one of Greater Cleveland’s most important resources for the latest news on what’s happening around town in business, restaurants, government and from news-making people. It’s an opportunity for both organizations to tap into and share the latest news from veteran journalist and NEOtrans founder Ken Prendergast.

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University Circle apartments planned

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Although still very early on in the development process, a Greater Cleveland real estate partnership is considering building a 24-unit multi-family development in Cleveland’s University Circle and has a target date of next August for breaking ground on it. The potential development site is across East 118th Street from Case Western Reserve University’s Nobby Ballpark and next to the old East Cleveland Township Cemetery.

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Apartments-over-library gets funding boost

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Delayed for more than a year, the proposed Karam Senior Living apartments over a new Walz Library branch at Detroit Avenue and West 80th Street in Cleveland’s Detroit-Shoreway neighborhood, just received the first of two funding boosts to address rising construction costs. While this funding, $2 million in American Rescue Plan Act (ARPA) funds awarded by the city of Cleveland, will close half of the funding gap for the residential portion, the remainder is still being finalized by Cuyahoga County. But it’s apparently enough to re-bid the project this fall to see what the construction numbers look like, officials said.

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