downtown Cleveland

Huge Tremont hillside development site is in the works

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A former railroad yard-turned-asphalt plant at the edge of one of Cleveland’s hottest neighborhoods is the location of an emerging, large development site that could add shops, restaurants, other small businesses and hundreds of homes at a riverfront location. The developer leading the charge for this nearly 25-acre site is the same one involved in helping to move forward the 25-acre Thunderbird development on Scranton Peninsula in the Flats.

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Sherwin-Williams seeks “strategic developments” at HQ

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When Sherwin-Williams (SHW) finalized a deal last month with Florida-based Benderson Realty Development Co. to buy a big stake in its new global headquarters, the conversations reportedly began with different intentions. According to sources who spoke on the condition of anonymity, those intentions were both more modest and more grand, depending on how one looks it, and could play out further over the coming year.

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Seeds & Sprouts XXV — Park Place Tech stays, LaSalle Theater available, Grant Thornton moving

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Park Place Technologies will stay and expand in Mayfield Heights. Collinwood’s LaSalle Theater, now stabilized, is up for sale. And Grant Thornton, one of the nation’s largest accounting firms, is moving and shrinking its downtown Cleveland office.

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Progressive Field final plans announced

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The Cleveland Guardians today announced renovation projects that are scheduled to be completed over the next three years as a result of the Cleveland Guardians new lease extension at Progressive Field announced last year. Progressive Field Reimagined will improve and extend the life of Progressive Field, which is the 11th-oldest ballpark in Major League Baseball, and will include renovations to the Upper Deck, Terrace Club, Dugout Club, home and visiting Clubhouses & Service Level, and the Guardians Administrative Offices. The Guardians said they expect all ballpark facility renovations to be completed by the 2025 season.

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Treatment center to vacate St. Mary’s Seminary

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It’s a place where few women wanted to go. And after their experiences at the Hitchcock Center for Women, many say they never wanted to leave. While each person tends to enter the center facing an abyss wrought by addiction, many leave feeling loved and hopeful. The Hitchock Center hopes their new home will be able to provide at least as much care as the old.

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Bedrock buys Gateway megaproject site

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Bedrock and Stark Enterprises today officially announced the acquisition and sale of the former nuCLEus development site, adding 3.17 acres to Bedrock’s growing downtown Cleveland development portfolio. Situated at the intersection of East 4th Street, Prospect Avenue and Huron Road, the site is comprised of a large surface parking lot, a parking garage, and a two-story retail building containing Mr. Albert’s Men’s World.

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What we may see in 2023

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When it comes to business, real estate and community investment, there’s a lot to look forward to in Greater Cleveland in 2023. Look no further than the new Canon Healthcare headquarters, Bedrock real estate’s riverfront plans, Midtown Cleveland developments, booming University Circle and its spillover into long-neglected neighborhoods, the next artist district in Cleveland, ballpark villages around our city’s sport venues, lakefront plans and projects, transit-oriented developments, plus the skyscrapers under construction downtown.

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Postmortem on Medical Mutual’s HQ decision

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The decision for Medical Mutual of Ohio to abandon its downtown Cleveland headquarters for suburban Brooklyn was apparently less of a strategic move and more of a matter of which city’s public incentives got used first. And according to a local real estate insider, it was a short-term decision that could end up biting the Fortune 1000 company and downtown in their hind ends in the long term.

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Boost in historic tax credits benefits Ohio projects

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Ohio announced state support for 54 rehabilitation projects that will restore 57 historic buildings across the state including eight redevelopment projects in Cleveland. According to state officials, the projects statewide are expected to leverage approximately $1.01 billion in private investment. The projects were awarded funding as part of the Ohio Historic Preservation Tax Credit Program (OHPTC), administered by the Ohio Department of Development. In total, 21 communities across the state are receiving awards, which total $64,132,847 in tax credits with $14.5 million of that going to Cleveland projects.

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