Euclid Avenue

Downtown adds new retail tenants

There is a recent surge of retailers opening in Downtown Cleveland due in part to a growing traffic base coming from several sectors. One is the continued strong residential population growth. Another is the increasing number of return-to-office requirements by employers. And the last is the growing number of year-round entertainment options downtown, based on the hours of operation of the new retailers.

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Here’s the Scoop: Ben & Jerry’s to Playhouse Square

While NEOtrans doesn’t normally devote an entire article to the planned opening of a small retail space, this is a new ice cream parlor in a high-profile location. And, of course, everyone loves ice cream, especially when it’s enjoyed before or after a show at America’s second-largest theater district, Cleveland’s Playhouse Square.

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First Interstate to renovate UC apartment building

This summer, an aging but well-located building in the heart of Cleveland’s booming University Circle will get a needed refreshing to help it compete with new apartment buildings nearby. The University East Building, 11308-11330 Euclid Ave., will get that attention now that it is under the long-term management of a prominent local real estate developer.

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UH plans Wolstein conference center on Euclid Ave.

In an e-mail sent to all employees today, University Hospital Health System CEO Cliff Megerian announced that the health care provider will seek to build a new 30,000-square-foot conference and education center in Cleveland’s University Circle. The facility will be built on an underutilized green space at 11100 Euclid Ave. in front of an existing parking garage.

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Downtown property owner penalized for tax credit ‘double-dipping’

A U.S. Tax Court judge in Washington D.C. has agreed with the Internal Revenue Service (IRS) in disallowing a $22.6 million tax deduction claimed by Corning Place Ohio, LLC for not building a 34-story vertical addition on top of its 19th-century Garfield Building, 1965 E. 6th St., in Downtown Cleveland. Senior Judge Albert George Lauber also sustained the IRS commissioner’s imposition of a 40 percent penalty for a “gross valuation misstatement” in seeking the deduction.

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