CWRU

Cleveland development: what to look for in 2024 — University Circle

Back when Cleveland was an industrial powerhouse, few wanted to live near its dirty, noisy industries. Today, its largest source of employment is the education and health services sector — a cleaner industry to which it’s attractive to live within a short walk or bike ride. It is centered in and near University Circle, surrounded by long-neglected neighborhoods. But investment has been coming into those places — Hough, Fairfax, Glenville, Cleveland Heights’ Top of the Hill, and East Cleveland’s Circle East — bolstering them as neighborhoods of choice.

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Stokes West redesigned

It seems every real estate developer is having similar problems — supply constraints, rising construction materials costs and rising interest rates. Only those projects that are charging top-of-the-market rents, have investors with low expectations for returns on investment, or received a ton of subsidies are getting built. So when Stokes West, which intends to offer apartment rents that are 13-21 percent lower than its peers in and near University Circle, got design approval by City Planning Commission last summer, it was already facing an uphill climb. That changed when the development team joined forces with Geis Construction Inc. and found a way to deliver the project more affordably.

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CWRU’s $300m research center moves forward

A proposed Interdisciplinary Science and Engineering Building with a construction budget roughly equal to that of the new Sherwin-Williams headquarters’ original tab is no longer just an idea for administrators, staff and students at Case Western Reserve University (CWRU). The university is already making moves to relocate classes and other services and activities out of Yost Hall, 2049 Martin Luther King Jr. Dr., so it can be demolished this summer to make way for the new research center.

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