Yesterday in Baltimore, Treasurer of the United States Chief Lynn Malerba awarded $5 billion worth of New Market Tax Credits (NMTC) nationwide, with $80 million of that to support real estate development projects Greater Cleveland. The projects are intended to be transformative by attracting private investment to create jobs in underserved communities.
Read More$80 million OK’d for Greater Cleveland development Read More Âğ
This week, global real estate brokerage Newmark released its third quarter office market report for Greater Cleveland and the news wasn’t good, especially for downtown Cleveland. While three of five submarkets in the metropolitan area saw declining occupancies of office spaces in July-September, none suffered a greater loss than the central business district. That district includes everything from Ohio City east through Downtown to Midtown.
Read MoreDowntown Cleveland’s ‘office market needs help’ Read More Âğ
Conceptual plans made publicly available this week for the next phase of development near the MetroHealth medical center along West 25th Street show a slightly scaled-back design compared to previously released massings by the MetroHealth System and shared by NEOtrans last week. Specifically, a proposed new headquarters for the hospital’s police department will be built next to rather than on the first floor of a new 60-unit senior apartment building at the northwest corner of West 25th and Trowbridge Avenue in Cleveland’s Clark-Fulton neighborhood. A future apartment building at the southwest corner may be considered at a later date.
Read MoreCity reveals MetroHealth’s West 25th plans Read More Âğ
MetroHealth System, developer NRP Group and RDL Architects Inc. have begun conversations with the City Planning Commission on the early stages of advancing the development of two large buildings on the west side of West 25th Street, across from the hospital’s main campus. The two buildings, to be located in Cleveland’s Clark-Fulton neighborhood, would provide market-rate apartments and affordable units for seniors, plus a new police station and ground-floor commercial uses along West 25th’s sidewalk.
Read MoreMetroHealth starts West 25th development work Read More Âğ
Planning documents submitted to the city yesterday reveal that slightly more than half of the former Westinghouse plant overlooking the West Shoreway and Lake Erie could be demolished in preparation for the redevelopment of the surviving structures. According to sources familiar with the project, the surviving portions at the plant at 1200 W. 58th St. in Cleveland are proposed to be redeveloped as a boutique hotel, apartments and leasable commercial spaces plus parking.
Read MoreHalf of ex-Westinghouse plant to be razed Read More Âğ
Final design of a 15-story mixed-use tower that’s proposed to be built at the west end of the Detroit-Superior Bridge was narrowly approved today by Cleveland’s Landmarks Commission. But whether the project actually gets built reportedly will depend on whether the project, called Bridgeworks, will win a “megaprojects” tax credit from the state in a few weeks.
Read MoreBridgeworks wins Landmarks OK, awaits financing Read More Âğ
For the first time in 200 years, Downtown Cleveland is at risk of losing its position as the region’s top employment hub. And in so doing, it would also no longer be Ohio’s top job hub, too. Downtown Cleveland has held the region’s top ranking since the days before the Ohio Canal opened for business in 1832, making downtown Cleveland the state’s reigning economic powerhouse.
Read MoreIs UC becoming Greater Cleveland’s top jobs hub? Read More Âğ
It’s a case of good news/bad news regarding a Columbus-based real estate developer’s plans for two developments in Lakewood. Both were slated to redevelop former car dealerships plus some adjoining properties with mostly residential uses. The investments by Solove Real Estate were sought in response to strong demand for housing in this walkable inner-ring suburb.
Read MoreSolove to start one Lakewood project, abandon another Read More Âğ
There have been lots of plans over the decades for stopping the decline of East Cleveland. But most were unfunded or lacked the necessary political stability to be implemented over the long haul. A new plan has come to the fore over the past few years to rebuild the west end of the city, closest to University Circle. And now the money is finally coming, too.
Read MoreMoney turning Circle East plan to reality Read More Âğ
A new initiative has started that, if successful, could reverse decades of urban sprawl, a hollowing out of Greater Cleveland’s urban core and an erosion of its transit system. Those conditions create a wide variety of problems that hurt the region’s environment, safety, economy, human health and exacerbates poverty. The new initiative would reverse that course by encouraging more pedestrian-friendly, mixed-use developments along high-frequency transit corridors in Cleveland and Cuyahoga County.
Read MoreGreater Cleveland TOD initiative on track Read More Âğ
