Cleveland Cavaliers

Cavs’ practice facility marks start of riverfront transformation

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In 2021, Detroit-based developer Bedrock announced its plans to develop a long-neglected portion of the Cuyahoga riverfront with 35 acres of mixed-use development and green space. Phase 1A of the development involves the construction of a practice facility for the Cleveland Cavaliers in partnership with the Cleveland Clinic—here’s a current look at the progress so far.

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Cleveland wins WNBA team, new downtown activity

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Starting in May 2028, Cleveland’s new Womens National Basketball Association (WNBA) team will begin playing in Downtown Cleveland at Rocket Arena. The expansion team will play half of its 44-game schedule at home and, if attendance is at least near the league-wide average, will help soften the impact of the Cleveland Browns football team moving from downtown to suburban Brook Park the following year.

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Ohio teams support DeWine’s stadium funding plan

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Fifteen of Ohio’s professional sports teams from among the major and minor leagues joined together in sending a letter to state leadership, expressing support for Gov. Mike DeWine’s proposed process to allocate funding for sports facility projects through House Bill 96 and the Ohio Unclaimed Funds proposal. But, noticeably absent were the two teams with the largest stadium funding requests.

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Bedrock starts Downtown Riverfront phase one

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Construction permit applications were filed this week with the city of Cleveland’s Building Department so contractors can start digging and installing foundations for the first phase of Bedrock’s Downtown Riverfront development. That first phase is the Cleveland Clinic/Cleveland Cavaliers Global Peak Performance Center, touted as one of the world’s largest training facilities.

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Downtown: Huron may close for street market

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Although early in the process, Playhouse Square Foundation is leading an effort in Downtown Cleveland that could result in the closure of Huron Road to vehicles to allow for the expansion of US Bank Plaza and create a venue for a street market of pop-up vendors and artists. The potential closure to cars and trucks could affect a short stretch of Huron that’s closest to Euclid Avenue.

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Cleveland development: what to look for in 2024 — Downtown

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For many in the real estate investment community, 2023 was the year when few new big projects were financed. The projects that were already financed under better, prior market conditions saw their construction advance, making the real estate landscape appear rosier than it really was. Now, however, as we enter 2024, there is a light at the end of the tunnel with developers already reviving or making new plans.

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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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