For the first time in more than four decades, the Greater Cleveland Regional Transit Authority is replacing its rapid transit trains — the oldest fleet of railcars used by any U.S. transit agency. But that rare $450 million opportunity to modernize its rail system could end up 10 percent short of its goal.
Read MoreTariffs may cut GCRTA railcar order by 10% Read More »
When hearing a government official prattle on about his vision for his jurisdiction, a wag once said “Don’t tell me what you support; show me your budget.” Similarly, for several years, Cuyahoga County officials have talked and planned about Transit Oriented Development (TOD). But now they’re putting their money where their mouths are.
Read MoreCounty offers loans to build near transit Read More »
One day after NEOtrans broke the news that the Cleveland Browns’ home games would be moved from Downtown Cleveland to a proposed domed stadium in suburban Brook Park (and why), the football team’s owner Haslam Sports Group has made it official.
Read MoreHaslams reveal Brook Park domed stadium plans Read More »
The U.S. Environmental Protection Agency (USEPA) today awarded $129.4 million in federal funding to the Greater Cleveland area to produce cheaper, more competitive, cleaner electricity locally. The funded work includes constructing five solar arrays in four communities, closing a coal-fired power plant in Painesville and supporting reforestation efforts in a community once called the Forest City.
Read MoreEPA gives Greater Cleveland $129.4M for five solar arrays, reforestation 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 »
Today, the Berea Planning Commission is expected to approve the demolition of a house that’s the final structure to be cleared for a $221 million mixed-use development planned by the Cleveland Browns and majority owner the Haslam Sports Group. That last house sold for a premium compared to the 43 other single-family homes plus other properties parcels that were acquired for the 38-acre development site.
Read MoreBrowns acquire, razing last house for big Berea project Read More »
When a Dublin, Ireland-based maker of artificial intelligence software for commercial satellites looked for a home in the nation with the world’s largest space program, it didn’t choose to be near any of the NASA complexes south of the Mason-Dixon Line. Instead, it picked the only NASA center north of it to be its neighbor.
Read MoreUbotica puts US HQ in Greater Cleveland Read More »
In recent months, the Greater Cleveland Regional Transit Authority (GCRTA) has served notice that its rail system isn’t going anywhere. And that could be interpreted in one of two ways. In one way, GCRTA plans to invest $540 million by the end of this decade to rebuild its 34-mile rail system including a new, standardized light-rail fleet plus rebuilt tracks and stations on the Red, Blue and Green lines. Greater Cleveland’s “Rapid” is sticking around for decades to come. But taking it another way, there are no expansion plans while ridership on GCRTA buses and trains fell nearly 60 percent from 2013 to 2021 “led” by its rail system which fell even farther, from 9.3 million boardings in 2013 to 2.9 million in 2021.
Read MoreGCRTA stations: lots of opportunity Read More »
At a press conference this week, Cleveland Browns owners Jimmy and Dee Haslam raised some eyebrows with their comments about the current stadium and where the football team might play in the future. Among other remarks, Jimmy Haslam interjected that “The only thing Dee and I would say for sure is we’re not leaving Northeast Ohio.” According to a team source familiar with its negotiations with the city of Cleveland, that remark was a subtle nudge to the city to resolve an apparent impasse in negotiations. The source added that, if the team doesn’t see more progress, it could leave Cleveland for a new stadium in the suburbs.
Read MoreBrowns Stadium talks tackled for no gain Read More »
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 estate asset acquisition in the Midwest and the first of more deals it is seeking in the Cleveland-area market.
Read MoreReynolds enters Midwest market with local buy Read More »
