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Nela Park may add residential

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Many Greater Clevelanders have at least some familiarity with a place that could soon become home to many Greater Clevelanders. The owner of the former General Electric Lighting headquarters, 1975 Noble Rd. in East Cleveland, is preparing plans to convert several office buildings within the 94-acre Nela Park Campus into apartments and make those intentions known at a meeting of local stakeholders, possibly as early as this month, according to a source familiar with the project.

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Courthouse proposals are on trial

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In local real estate parlance, a “whale” is a development project whose total floorspace measures 1 million square feet or more. Not only are they big, they’re tough to get. But there are two Cleveland entities who were able to do what Capt. Ahab could not — catch the whale. Two whales are under construction right now — Sherwin-Williams’ new headquarters tower downtown and Cleveland Clinic’s new Neurological Institute in the Fairfax neighborhood, near University Circle. A third whale is in the early stages of the chase, a stage where things are most fluid and thus, very intriguing.

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Downtown retail revival plan announced

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Downtown Cleveland, Inc. today shared its Downtown Retail Strategy, designed as a roadmap to create a thriving retail environment in the urban core. Unveiled by Downtown Cleveland, Inc. President & CEO Michael Deemer during the 2023 State of Downtown at The City Club of Cleveland, the plan is one of Reimagining Downtown Cleveland’s near-term economic priorities. It aims to fill gaps in the city center’s marketplace and serve existing residents and businesses.

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Cleveland, Maple Hts projects add hundreds of jobs

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Tennessee-based laboratory services company LabConnect and local fermented foods producer Cleveland Kitchen Co. were approved this week for a combined $1.1 million in state job creation tax credits for up to 250 new jobs at facilities in Cleveland. Meanwhile, a growing Vendors Exchange International, LLC plans to move its offices and manufacturing facilities from a western suburb to Maple Heights where it will expand to more than 70 jobs, thanks to financial support from Maple Heights.

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County Courthouse project gets seven proposals

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While the specific proposals for a new or renovated Cuyahoga County courthouse haven’t been publicly released yet by the county, a list of who submitted the proposals was provided to NEOtrans as a result of a public records request. And the list of seven respondents provides some insight as to who has presented what for the county’s nearly 900,000-square-foot courthouse facility that could cost $400 million to $700 million to build or renovate.

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Gordon Square: more apartments, townhomes

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Less than a year after acquiring the Premium Metals property, 5901-6001 Breakwater Ave., in Cleveland’s Gordon Square neighborhood, Beachwood-based developer TurnDev has released conceptual plans for developing the site with a mix of multifamily apartments and townhomes. Tentatively called Breakwater Residences, its 193 housing units and a long, five-story building represent a significant project but not as large as what was previously proposed for the site by another developer. And it’s less dense than what the city’s zoning code allows.

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Local projects may benefit from federal incentives

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Having too much office space, not enough housing inventory and tight private financing to address those conditions isn’t just a Greater Cleveland phenomenon. It’s a nationwide problem. So the federal government on Friday announced incentives to encourage the conversion of high-vacancy commercial buildings to residential use and develop surplus land owned by transit agencies.

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North Coast development authority launched

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With updated plans for redeveloping downtown Cleveland’s lakefront steadily rolling in like Lake Erie’s waves, the nonprofit development corporation charged with funding and implementing those plans also is coming together. Today, Cleveland Mayor Justin Bibb announced the initial board of directors for the new North Coast Waterfront Development Corp. (NCWDC) and its chair, David Gilbert, CEO of Destination Cleveland and the Greater Cleveland Sports Commission.

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Ohio City finance firm moving to the Flats

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Another significant office tenant with naming rights to their building is on the move — and shrinking. This time, it’s Cleveland-based financial planning firm Skylight Financial Group which is a general agency of Massachusetts Mutual Life Insurance Co. (MassMutual) in multiple Ohio cities. But unlike Ernst & Young (now EY) moving from one side of downtown Cleveland to the other, Skylight Financial will be leaving Ohio City’s Market District in 2024 for Scranton Peninsula in the Flats.

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The Bell to ring people home in 2024

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At first, construction work at The Bell has a familiar ring to it. But this isn’t the usual conversion of a zombie office building in downtown Cleveland into residential or hotel uses. Instead, conversion of the former Ohio Bell Company headquarters, ongoing since July 2022, has been a different calling. What were once large, wide-open floors at the 16-story, 40-year-old office building have since been divided up into an average of 31 apartments per floor in the residential portions of the building at the southeast corner of Lakeside Avenue and East 9th Street.

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