From Downtown Cleveland to the suburbs to outlying cities in Northeast Ohio, nearly a dozen planned redevelopments of aging buildings were blessed with historic tax credits from the state. They were among 35 awards totaling more than $68 million to preserve dozens of historic buildings in 12 communities across Ohio.
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In downtown Cleveland, the Apartments at Bolivar are scheduled to break ground by the end of the month after demolition work. Reuse of Fullerton School site in Slavic Village is in works. And a Glenville apartment building is proposed to be renovated.
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With financing now in hand, look for demolition and construction work to start this summer for the Residences at Bolivar, 1060-1124 Bolivar Rd., in downtown Cleveland’s Gateway neighborhood. The work was made possible by Chicago-based JLL Capital Markets arranging $38.5 million in construction financing and co-general partner equity in the project from an affiliate of another Chicago firm, Leopardo Companies. JLL Capital Markets announced the financing in a written statement this week.
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A big retailer is opening at Steelyard Commons, renovations work for AJ Rocco’s new restaurant are about to progress, Hemingway Development bets on Midtown offices, and the inside of a West Side leather shop is about to be renovated.
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Groundbreaking is due in mid-March for The Apartments At Bolivar in downtown Cleveland. A former factory on East 45th Street in Asiatown is being renovated into the Belden Building artist studios. And the Pizza Hut at Detroit Avenue and West 117th Street will be demolished for an Urgent Care Center.
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A planned renovation of a vacant office building in downtown Cleveland by the Walton Enterprises, of Wal-Mart fame, into a boutique hotel got its first publicly accessible airing today by a city panel. And the feedback it received was decidedly positive.
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NEOtrans is receiving word that the proposed Bedrock megaproject in downtown’s Cleveland Gateway District may be comparable in scale to a major development in downtown Detroit. When asked how big Bedrock’s planned development in downtown Cleveland might be, two sources close to the Detroit-based firm said “Look at the Hudson’s Site.”
Read MoreA variant of Bedrock’s Hudson’s Site in Cleveland? Read More »
