Groundbreaking is due in mid-March for The Apartments At Bolivar in downtown Cleveland. A former factory on East 45th Street in Asiatown is being renovated into the Belden Building artist studios. And the Pizza Hut at Detroit Avenue and West 117th Street will be demolished for an Urgent Care Center.
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Symbolism comes in many forms. A compelling symbol for the University Circle-area economy is seeing a building which housed people at the end of their working lives be turned into one for people preparing to start their careers. That’s the plan for the McGregor At Overlook, 2187 Overlook Rd., which Case Western Reserve University (CWRU) wants to buy and convert into student housing. When you need space for a growing number of students, you do what you can to accommodate them.
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At the start of 2024, the city of Cleveland’s new tax abatement policy will go into effect. While the policy will remain basically unchanged for much of the city, it will become less supportive of developments in neighborhoods where construction has been most active — University Circle, Ohio City, Tremont and parts of downtown. So, in those areas, developers are trying to expedite the delivery of projects before the 15-year property tax abatement on new developments declines from 100 percent to 85 percent. But there’s something standing in the way of that acceleration: a lack of city staff to get projects approved in time.
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Cuyahoga County Council’s approval yesterday of a property sale to a New York City-based developer could lead the way toward a “significant” development in the heart of East Cleveland. The site, at Euclid and Superior avenues, is just one-half-mile from the eastern edge of University Circle and set between stations on the HealthLine bus and Red Line rail rapid transit routes.
Read MoreEast Cleveland on track for $100M project Read More »
Continued redevelopment of Cleveland’s Hough neighborhood was put into play last week following the acquisition of 4.45 acres of property which has hosted the Martin Luther King Jr. Plaza, 9300 Wade Park Ave., since 1972. Purchasing the MLK Plaza on Feb. 6 for $2.75 million was an affiliate of Northern Real Estate Urban Ventures (NREUV), according to Cuyahoga County records.
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Although rumored for weeks, the announcement that EY (formerly Ernst & Young) is moving its offices out of one of only two trophy-class buildings in downtown Cleveland still came as a surprise to some longtime real estate executives. The 23-story office tower at 950 Main Ave. at Flats East Bank that bears Ernst & Young’s name has been one of downtown’s most expensive and successfully leased since it opened in 2013.
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At the City Planning Commission’s design-review meeting starting 9 a.m. Friday, representatives of Detroit-based Bedrock are scheduled to present more of its vision for downtown Cleveland’s riverfront below Tower City Center. In addition to showing renderings of the buildings and public spaces, Bedrock’s architectural team led by Adjaye Associates will lay out a schedule and a menu of items needed for building the infrastructural foundations to support the ambitious riverfront plan.
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After two years of seemingly endless meetings surrounding the redevelopment of Lakewood’s former hospital site, Roundstone Insurance has not only left the development project but decided to leave the inner-ring suburb entirely. Currently located in the former First Church of Christ Scientist, 15422 Detroit Ave., the headquarters of this fast-growing insurance firm with up to 240 employees and $17.5 million in annual payroll is due to leave Lakewood in April 2024, according to Mayor Meghan George’s administration.
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Opportune Development LLC, an affiliate of ARPI LLC, is seeking to build a three-building project called Hub 27 one block west of West 27th Street and south of the railroad tracks in Cleveland’s Clark-Fulton neighborhood. While there has been much development activity on the east or Tremont side of West 25th south of the tracks, this is the first major development to push south of Ohio City into the Clark-Fulton side of West 25th.
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CedarTech and Cumberland Development reveal office building plans. The Cleveland chapter of Entrepreneurs’ Organization is opening an office downtown. And concrete wholesaler Tech Ready Mix is acquiring a large property in Kinsman for what may be a new production facility.
Read MoreSeeds & Sprouts XXVI – UC tech building, EOC going downtown, Tech Ready Mix buys land Read More »
