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Ohio megaproject applications released

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When real estate developer Bob Stark thought up the Ohio Transformational Mixed Use Development (TMUD) tax credit several years ago, he envisioned it as a means to transition from tapping historic tax credits for renovating old buildings in downtown Cleveland to afford building new ones. His rationale was that, with the supply of obsolete commercial buildings dwindling to provide new residential inventory, a new financial incentive would be needed to overcome Cleveland’s high construction costs and low rents to satisfy downtown housing demand.

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INTRO phase 2 gets a bit clearer

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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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Opportunity Corridor cold storage to boost local biz

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Opinions varied on the physical appearance of a large new warehouse approved Friday by Cleveland’s City Planning Commission. But the project was lauded as the kind of catalytic development that’s needed for Cleveland’s food manufacturing sector, one that belongs on the newly opened Opportunity Corridor Boulevard. Construction is due to start this winter.

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