Detroit Avenue

Downtown Lakewood work starts for new bank

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Persons visiting or passing through downtown Lakewood have likely noticed the demolition of a small bank branch-turned-bagel restaurant and wondered what is going to replace it. The answer is that another bank branch will return to that site but with a more pedestrian-friendly approach to the building’s design this time around. And while the new structure will be bigger than its predecessor, the amount of floor space in the building isn’t as much as the new structure makes it appear.

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Affordable apartments planned at RTA station

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An Indianapolis-based real estate developer is seeking to build affordable apartments just west of the Greater Cleveland Regional Transit Authority’s (GCRTA) West Boulevard-Cudell rapid transit station on land owned by the transit authority. Today, the GCRTA Board approved giving that developer, Flaherty & Collins LLC, an option to purchase the land for the development of 60 to 80 apartments. The option, priced at $5,000, gives the developer site control so it can nail down financing and city approvals over the next year. If the developer needs more time, RTA can extend the option for another year for another $5,000.

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Solove to start one Lakewood project, abandon another

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It’s a case of good news/bad news regarding a Columbus-based real estate developer’s plans for two developments in Lakewood. Both were slated to redevelop former car dealerships plus some adjoining properties with mostly residential uses. The investments by Solove Real Estate were sought in response to strong demand for housing in this walkable inner-ring suburb.

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