Are you ready for some construction cranes, Cleveland? No, I’m not talking about the tower cranes that will rise next month above Sherwin-Williams’ new HQ west of Public Square or the crane soon to arrive over the City Club Apartments on Euclid Avenue. Those may be just the tip of the iceberg for downtown.
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A largely vacant triangle of land in the southern part of Cleveland’s University Circle could see construction of a 261-unit residential development start by year’s end. But the part of the triangle that still has a building on it has been a source of debate for the community.
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Community development corporation Famicos Foundation proposes to build two buildings comprised mostly of apartments at two locations along Superior Avenue in Cleveland’s Glenville neighborhood. The two projects would develop underutilized properties along a once-vibrant street lined with vacant land and abandoned buildings, to provide quality workforce and senior housing that helps draw University Circle’s energy a little farther north.
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A third source has now communicated with NEOtrans that the Cleveland Browns favor a new, retractable roof stadium built off the lakefront but in or near downtown. And this source is a high-ranking official within the National Football League team itself. Despite this, a team spokesman angrily denied the report and called the source “not credible.”
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Contrary to the narrative that office markets nationally and especially in Greater Cleveland are dead, two new reports show they are very much alive. And while they’re not fully recovered from the pandemic and remote working, some office markets including Cleveland’s have shown surprising resilience.
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Several Greater Cleveland redevelopment projects in the works for years got a boost today when they were among the 38 projects awarded nearly $40 million in historic tax credits by the Ohio Department of Development. The awards were part of the Ohio Historic Preservation Tax Credit Program that is administered in partnership with the Ohio History Connection’s State Historic Preservation Office.
Read MoreCleveland, Lakewood rehabs corner historic credits Read More »
UPDATED JUNE 21, 2022: MRN Ltd. Partner Ari Maron sent the following e-mail message to NEOtrans exactly five hours after this article was published: “As a result of your article we have withdrawn our application for this project. Please update your blog.”
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This summer, renovations to a trio of large, former office buildings in downtown Cleveland are due to get underway that will convert their combined 2+ million square feet into mixed uses that will add 1,671 housing units, Class A office and co-working spaces, plus unique restaurant, retail and residential amenities. Total investment is projected to be $687 million for all three projects — The Centennial, 45 Erieview and The Rockefeller Building.
Read MoreHeating Up: 3 big downtown reno projects to start Read More »
According to two sources close to the Cleveland Browns and its owner the Haslam Sports Group, the National Football League (NFL) team is leaning toward building a new stadium versus renovating the existing FirstEnergy Stadium. And the sources say the team already has at least two sites picked out as options for a new stadium that will likely cost in excess of $1 billion.
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While one-third of all apartment demand in Greater Cleveland is downtown, Beachwood appears to be the most active suburb in the development of apartments. And that suburb’s activity was added to in a big way just this past week.
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