When Circle Square won a megaprojects tax credit earlier this month from the state, it helped set the financial foundations for the next structures in the massive undertaking in Cleveland’s University Circle. Already, Circle Square’s developers have forever changed the skyline of Cleveland’s second downtown. But more is about to come along Stokes Boulevard, between Euclid and Chester avenues.
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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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A national dog daycare chain is eyeballing the Greater Cleveland area and may start by planting its flag in downtown Cleveland. Dogtopia franchisee and self-described dog lover Alex Mazzenga of Cleveland Heights is seeking to open a dog daycare business at the City Club Apartments, 776 Euclid Ave, according to a building permit application filed with the city this week. The investment necessary to build out the space, estimated by the permit at up to $1 million, shows there’s some serious puppy love involved.
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With the paint still drying on the first phase of a mixed-use development called The Foundry Lofts, 7240 Euclid Ave., Signet Real Estate Group is asking the city for approvals to begin construction on an apartments-only phase two. The reason for moving forward so quickly on expanding the Midtown Cleveland development is because both residential and commercial leasing activity for the first phase have been strong.
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Downtown Cleveland’s Euclid Avenue is a bit of a dead zone between East 9th and East 12th streets, but it’s not for a lack of residential. Almost every building on both sides of the street were converted from offices to residential uses over the past decade. What silences this stretch of downtown’s historic main street is the scarcity of ground-floor activities.
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UPDATED JUNE 21, 2022: MRN Ltd. Partner Ari Maron sent the following e-mail message to NEOtrans exactly five hours after this article was published: “As a result of your article we have withdrawn our application for this project. Please update your blog.”
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Two months before its official groundbreaking is scheduled to be held, construction work has started on the next new building in Cleveland that’s big enough to put another tower crane in the sky over booming University Circle.
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A revised agreement may allow the 11-story Library Lofts in University Circle to break ground as early as next month.
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It wasn’t just the sound shovels hitting the dirt at the City Club Apartments’ groundbreaking ceremony today in downtown Cleveland that was heard. It was also the news that the Farmington Hills, MI developer and owner of multi-family and mixed-use properties was just getting started in establishing a presence in Cleveland.
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For more than two months, a construction permit for the foundation of a high-rise apartment tower in downtown Cleveland has sat at the city’s Department of Building & Housing office, ready for the architect of record or general contractor to come pick it up.
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