investment

Progressive Field final plans announced

The Cleveland Guardians today announced renovation projects that are scheduled to be completed over the next three years as a result of the Cleveland Guardians new lease extension at Progressive Field announced last year. Progressive Field Reimagined will improve and extend the life of Progressive Field, which is the 11th-oldest ballpark in Major League Baseball, and will include renovations to the Upper Deck, Terrace Club, Dugout Club, home and visiting Clubhouses & Service Level, and the Guardians Administrative Offices. The Guardians said they expect all ballpark facility renovations to be completed by the 2025 season.

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Shoreway Tower clears another hurdle

One of the most important remaining hurdles for a proposed high-rise apartment building overlooking Edgewater Park was finally cleared after multiple postponements. But today, Cleveland’s Board of Zoning Appeals (BZA) unanimously approved four variances to the city’s zoning code necessary to build the project on a parking lot at the north end of West 78th Street. Today’s action puts the project a big step closer to construction.

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Old Brooklyn development plan wins support

Plans for redeveloping the northwest corner of Pearl Road and Memphis Avenue in the heart of Cleveland’s Old Brooklyn neighborhood were set in motion yesterday when a Pittsburgh-based architecture and development firm and its conceptual plan were selected by the Old Brooklyn Community Development Corp. (OBCDC). Desmone, OBCDC and other neighborhood stakeholders pledged to work together in the first quarter of 2023 to turn the proposal into an real project.

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Stark has new buyer for downtown site

If it’s December, then there’s a new buyer emerging for the so-called “nuCLEus” properties owned by Cleveland-based Stark Enterprises. But there’s a few differences with the potential sale of downtown land in the Gateway District compared to last year’s deal that fell through. Perhaps the most significant difference this time is that Stark’s CEO isn’t denying it.

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groundbreaking ceremony for The Lumos apartments

Hough busily breaking new ground

For anyone who has been watching real estate activity in recent years in Hough, they are probably no longer surprised that investment is growing here. But what may be surprising is that the pace of it continues to increase. And, with that, there’s growing interest by local and national investors to make sure that gentrification doesn’t take hold and push away people who need jobs within an easy walk, bike or bus ride of booming University Circle.

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MetroHealth adding more clinics at CMSD schools

A mix of federal and state funds along with a partnership of MetroHealth System and the Cleveland Metropolitan School District (CMSD) have come together to spur construction of additional health clinics at four Cleveland school sites to increase basic health care services to young people. A wide variety of health care services will be available at these clinics, including treatment of illnesses, mental health, sports injuries and even dental care.

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Affordable apartments planned at RTA station

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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First look at Cleveland Clinic’s largest-ever building

In several days, the City Planning Commission’s Design Review Committee will get its first chance to offer its opinion on what will be the Cleveland Clinic’s largest-ever building. The facility will be the new home of the Clinic’s Neurological Institute — a 1-million-square-foot structure that will tower over Carnegie Avenue, between East 89th and 90th streets. It is the current site of the eight-story P Building surgery center that is now is the process of being demolished.

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Cleveland benefits from national migration shift

One of North America’s next big migrations may already be underway. And according to early data, it appears that Cleveland and other Great Lakes cities are among those benefitting from it. What’s driving this new migration? The basics — low cost, proximity to family, abundant fresh water and peace of mind from not worrying about your neighborhood catching on fire or washing out to sea.

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Lakefront park expansion advances

While there’s been lots of studies about how to improve Cleveland’s lakefront, one is actually moving forward into formal design and construction permitting — the last step before acquiring funding and construction for an expanded lakefront park. And although the detailed design and permitting will continue through to the end of 2023, a big piece of funding for lakefront park expansion will be decided by voters next month.

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