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.
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On Friday July 12, representatives of Bedrock Real Estate will make a presentation to Cleveland’s City Planning Commission about the upcoming steps they will take to ready the site for their ambitious $3.5 billion riverfront development plan. But a majority of those early steps boil down to just one foundational word — infrastructure.
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For years, the underutilized McCafferty Health Center at 4242 Lorain Ave. in Cleveland’s booming Ohio City neighborhood has been a topic of interest among real estate developers and community leaders. Today, Cleveland city officials announced they will soon be entertaining proposals for the site’s development.
Read MoreCleveland to make prime Ohio City site available Read More »
After a successful inaugural effort of the Cleveland Equitable Development Initiative (CLE-EDI), the Cleveland Development Advisors (CDA) didn’t waste any time at all in deciding to pursue a second round of competitions. Applications open today for the CLE-EDI which aims to level the playing field for historically excluded developers of color.
Read MoreLet’s do another one! Cleveland entrepreneurs of color to compete again Read More »
Key pieces of financing were awarded this week to a significant development planned on the south side of the intersection of Detroit and Lake avenues in Cleveland’s Detroit-Shoreway neighborhood. There, a 136-unit affordable housing project could see construction start by early next year on the site of the former Watterson-Lake Elementary School, 7407 Detroit Ave.
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The Haslam Sports Group plans more than a billion dollars worth of new development surrounding their proposed new domed stadium. But is that necessarily going to be in the Cleveland suburb of Brook Park? With an emerging effort by city officials to close and redevelop Burke Lakefront Airport, look for that site to be offered up as a location for the stadium and supportive development. Rumors are circulating that both could happen.
Read MoreHaslam’s mini-downtown – at Brook Park or Burke? Read More »
Ohio Gov. Mike DeWine said he is eager to sign the largest capital budget in the state’s history. This $4.2 billion goody bag of Senators’ and Representatives’ gifts to their constituents was passed yesterday, resulting from a strong economy and robust tax revenues that fed a record budget surplus. In that goody bag are things ranging in size from $2,250 for the Solon Innovation Center to $20 million for Downtown Cleveland’s North Coast Connector land bridge.
Read MoreOhio Capital Budget’s Cuyahoga County projects Read More »
From Downtown Cleveland to the suburbs to outlying cities in Northeast Ohio, nearly a dozen planned redevelopments of aging buildings were blessed with historic tax credits from the state. They were among 35 awards totaling more than $68 million to preserve dozens of historic buildings in 12 communities across Ohio.
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In a strategic collaboration that allows Cleveland’s urban gems to shine in a new light, Spark GHC and Cleveland Construction today announce a groundbreaking joint venture. Project Scarlet represents a significant commitment of $100+ million to transform a 400,000-square-foot office space, formerly Medical Mutual’s headquarters, into a dynamic mixed-use development.
Read MoreDowntown’s Rose Building to be hotel, apartments Read More »
With a certificate of occupancy in hand and leasing to start in two weeks, The Bell, 45 E. 9th St. in Downtown Cleveland, will be the subject of an online auction scheduled for next month. The auction is intended to make available a portion of the interest in a general partnership that owns the office-turned-residential building.
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