While the nation’s employment is high and incomes are rising, in many respects, the slowdown in new real estate construction projects is the worst the nation has seen since the credit crunch of 2008-10. Back then, everything stopped. Nothing new was getting built. Things aren’t too different now unless you’re building new data centers, warehouses or small housing projects.
Read MoreDowntown’s next crane may be MIA for a while Read More »
Sitting dormant since Lakewood Hospital closed in 2016 and was demolished in 2019, a 6-acre city-owned site in Downtown Lakewood has a fresh strategy and a new tenant to finally reactivate it. While that strategy and a new tenant, a neighborhood grocery store, was enthusiastically received by City Council members at a committee meeting tonight, it remains to be seen whether it can overcome financing hurdles affecting it and all other projects nationwide.
Read MoreNew Downtown Lakewood plan, grocery store announced Read More »
Two mixed-market-rate apartment developments that just opened along East 105th Street in Cleveland’s Fairfax neighborhood have phase-two projects proposed. But construction on the pair of follow-on projects may not occur for a year or more as lending remains tight and leasing activity has been uneven. But things could accelerate next year after interest rates fall and hiring starts for thousands of permanent jobs at several large Cleveland Clinic buildings under construction nearby.
Read MorePhase 2 awaits: Innovation Square, Fairfax Market Read More »
In February 2023, the first of many public meetings were held for a medium-sized development called 45 West proposed by Cleveland-based My Place Group on Lorain Avenue at West 45th Street in Cleveland’s Ohio City neighborhood. More than a year later, a rezoning request was recommended by the City Planning Commission to City Council to allow the project to move forward.
Read MoreRezoning recommended for Ohio City project Read More »
Purchase of Downtown Cleveland’s third-tallest skyscraper last week was officially confirmed today by the skyscraper’s new owner. A partnership of Namdar Realty Group and Mason Asset Management, both of Long Island, NY, also said they have a formed a five-year capital plan to improve 200 Public Square and hired a new building manager to carry out that plan. Enhancing the retail offerings in the tower’s atrium for office tenants and nearby residential buildings is part of its goal.
Read MoreCleveland skyscraper’s new owner plans upgrades Read More »
A Cuyahoga County committee has reportedly rejected all but one of the proposals that could have kept a Consolidated Courthouse at the current site of Downtown Cleveland’s existing Justice Center. NEOtrans has learned that, of the four surviving proposals, one involves a complicated, time-consuming double-move of courthouse functions from the current site and back again. If rejected, it would end a five-decade run of the Justice Center site as a law enforcement, adjudication and penal facility and set the stage for its redevelopment.
Read MoreCounty courthouse to have new address? Read More »
This spring, the flowers aren’t the only things blooming in Cleveland’s Ohio City neighborhood. So are the new stores and plans for more, including restaurants and cafes. While many new and renovated buildings have opened elsewhere in the city, their ground-floor retail spaces tend to fill with a pre-programmed routine of bank branches, coffee shops, the occasional bar/restaurant, art gallery, or stay empty for a long time.
Read MoreOhio City retail defies recent trends Read More »
In a continuing effort to create more affordable housing and transportation choices for Americans, the Biden-Harris Administration and the U.S. Department of Transportation’s Federal Transit Administration (FTA) yesterday announced $17.6 million in grants going to 20 communities in 16 states to support equitable Transit-Oriented Development (TOD). Greater Cleveland was among those communities.
Read MoreLorain Road corridor wins transit planning grant Read More »
Three large redevelopment sites totaling nearly 20 acres in Cleveland’s Lee-Harvard neighborhood are the subject of city efforts to focus investment on them. The effort is intended to reverse decades of disinvestment that has occurred on Cleveland’s southeast side by producing jobs, new housing and catalyzing more investment. In fact, there’s some evidence that such a reversal is already underway.
Read MoreThree redevelopments to boost Cleveland’s Lee-Harvard Read More »
As early as next month, plans may go public for a significant mixed-use development on the largest undeveloped site in Cleveland’s booming Ohio City neighborhood. Sources familiar with the project said the release of plans for the development, first confirmed by NEOtrans in October 2023, was delayed as the development team attempted to include a well-known property but will instead move forward without it.
Read MoreOhio City megaproject nearly ready for roll-out Read More »
