Gordon Square neighborhood

West 73rd Apartments site on the market

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In a move that came as a surprise to some members of its development team, a New York-based developer has decided to sell one of the last-remaining open development sites in Cleveland’s hot Gordon Square neighborhood near Lake Erie. The offering of 1321-1357 W. 73rd St. comes after its owner, Joe Zagelbaum of Brooklyn, NY, went through a year-long process to get plans approved by the city for a 196-unit apartment complex.

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TMUD round 3 starts next week

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The desire for new-build projects in downtown Cleveland led to the creation of the state’s Transformational Mixed Use Development (TMUD) tax credit program nearly three years ago. But in the first two years of the four-year TMUD program, no developers of new-construction downtown projects have submitted applications. As the third round of TMUD will start next week, will a new-build project downtown finally be an applicant — or perhaps even a winner — despite of tightening labor and credit markets plus rising interest rates?

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