Cuyahoga County Council’s approval yesterday of a property sale to a New York City-based developer could lead the way toward a “significant” development in the heart of East Cleveland. The site, at Euclid and Superior avenues, is just one-half-mile from the eastern edge of University Circle and set between stations on the HealthLine bus and Red Line rail rapid transit routes.
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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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After a developer entered a project design contest recently, it did more than just win some money. It also gave some insights into its next big construction project in Cleveland’s Ohio City neighborhood. But a spokesman for the developer, Harbor Bay Real Estate Advisors, cautioned that the basic design it submitted was merely a study of how the project’s second phase could be built in an innovative way.
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Representatives of a real estate development partnership have been making the rounds of near-west-side neighborhood block clubs to present conceptual ideas and get feedback for developing land next to the West 25th-Ohio City Red Line Station. But those same representatives caution there is no plan yet and there is no guarantee that anything will be built.
Read MoreOhio City RTA station site ideas arrive Read More »
